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    2940 Oak Ave Miami, FL 33133

    For Sale
    $8,995,000

    Luxury 5-story office building, shovel-ready.

    Property size:
    27,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents a fully entitled, shovel-ready development site in Miami's desirable Coconut Grove neighborhood. The proposed five-story Class A office building, slated for completion in 2025, will encompass approximately 27,000 to 29,000 square feet, with 18,672 square feet of net rentable space. The design includes a ground floor for commercial use, four floors of premium office space, and a desirable rooftop amenity area. Located on Oak Avenue, this prime 6,618 square foot (0.152-acre) lot is zoned T 5 0, offering significant potential for high returns. The property benefits from its location in a thriving market, with current office space commanding rental rates of $100 to $120 per square foot. The site was cleared in 2023, and all necessary approvals are in place, making this a truly "shovel-ready" project. The asking price is $8,995,000, representing a fee simple ownership opportunity. This is a rare chance to acquire a fully entitled development project in one of Miami's most sought-after locations. The property is vacant and ready for immediate construction, offering a unique opportunity for a quick return on investment. The gross lease structure provides straightforward management. Parcel number is 01-4121-034-0310.

    Property Features for 2940 Oak Ave

    General Information

    Property type
    Medical offices
    Square Feet
    27,000 SF
    Class
    A

    Building Details

    Year Built
    2025
    Buildings
    1
    Stories
    5

    HighLights

    • Demolished site, ready for development in 2023.
    • Fully entitled and approved.
    • Prime Coconut Grove location.
    • Existing office space commands $100-$120/SF.
    • Shovel‑ready site.
    • 6,618 SF lot (0.152 acres).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Johari Inc Hair Salon V'HChimneycleaning Services Chimney Sweep

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2410471
    Latitude
    25.7297245

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    FAQs

    What type of property is this?
    Medical office - Luxury 5-story office building, shovel-ready.
    Where is this medical office located?
    The property is located at 2940 Oak Ave Miami, FL.
    What is the asking price?
    The asking price for this property is $8,995,000.
    What are key features of this property?
    This property features: Demolished site, ready for development in 2023.; Fully entitled and approved.; Prime Coconut Grove location.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2940 Oak Ave Miami, FL 33133
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