Mixed-Use Property with Ground-Floor
For Sale
Contact for pricing
Pending
1029 NW 3rd Ave, Miami, FL 33136
Apartment residences and retail space operate under a long-term land-use restriction for qualified low-income housing.
Property SizeContact for details
Lot Size1.38 Acres
Days on Market143
Property Features for 1029 NW 3rd Ave
General Information
Standard status
Pending
Lot size
1.38 Acres
Property subtype
Multifamily
Occupancy
100%
Additional Details
Road Access
Yes
Multifamily Units
122
Building Details
Year Built
1956
Tenancy
Multi
Listing Agency:
Porosoff Group
(305) 209-8866
Listed By:
Arthur Porosoff · License #3160379
Source:
Crexi
Added: Apr 11
Changed: Aug 30
Last Checked: Aug 30 at 5:57PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Porosoff Group
Investment Insights
Based on property information with market context.
This mixed-use property combines a 122-unit apartment building with ground-floor retail across improvements constructed in 1956. The buildings occupy a combined 60,000-square-foot lot with frontage extending from block to block along NW 3rd Avenue. The offering comprises the leased fee interest associated with a 99-year ground lease running from October 1st, 1956, through September 30th, 2055.
The lessee is responsible for property taxes, fire and windstorm insurance, and ongoing property maintenance. A Land Use Restriction Agreement remains in place for the same duration as the ground lease, with the property operating as a Qualified Low-Income Housing Development. The apartments are 100% leased to low-income households.
The surrounding Overtown area includes completed and active development projects such as Soleste Grand Central, Lyric House, 3 MiamiCentral, Atlantic Station, and Sawyer’s Walk Block 55, adding new residential, retail, office, and parking components nearby.
The lessee is responsible for property taxes, fire and windstorm insurance, and ongoing property maintenance. A Land Use Restriction Agreement remains in place for the same duration as the ground lease, with the property operating as a Qualified Low-Income Housing Development. The apartments are 100% leased to low-income households.
The surrounding Overtown area includes completed and active development projects such as Soleste Grand Central, Lyric House, 3 MiamiCentral, Atlantic Station, and Sawyer’s Walk Block 55, adding new residential, retail, office, and parking components nearby.
Key Highlights
- 122‑unit apartment building with ground‑floor retail
- Combined 60,000‑square‑foot lot with block‑to‑block frontage along NW 3rd Avenue
- Improvements constructed in 1956
Property Analytics
Property Profile
Current Use
Lease Details
122
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
12,371
Businesses Nearby
Explore this area
Business Placement
Demographics for 33136, FL
15,439
Population
7,994
Households
1.9
Avg Household Size
36
Median Age
25%
College-Educated
73%
High-School Grad
1.4 sq mi
ZIP Area
11,028
Density / Sq Mi
$43,481
Median Household Income
$34,130
Median Earnings
$1,337
Median Rent
$352,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Apartment residences and retail space operate under a long-term land-use restriction for qualified low-income housing.
Where is this mixed-use property located?
The property is located at 1029 NW 3rd Ave Miami, FL.
What are key features of this property?
This property features: 122‑unit apartment building with ground‑floor retail; Combined 60,000‑square‑foot lot with block‑to‑block frontage along NW 3rd Avenue; Improvements constructed in 1956
