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    3520 33Rd Ave Miami, FL 33142

    Sponsored
    For Sale
    $4,750,000

    High-yield multifamily redevelopment

    Property size:
    33,541 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Miami, Florida redevelopment opportunity presents a compelling investment prospect. Located at 3520 NW 33rd Ave and 3340 NW 36th St, this 0.77-acre site encompasses two parcels (APN: 01-3128-013-3450 & 01-3128-013-3440) with approximately 34,000 square feet of land. Currently featuring a 1,000 sq ft commercial auto shop and a 2,800 sq ft residential duplex, both structures are 100% occupied, generating a current NOI of $216,000 with a 4.55% cap rate. The property boasts a total of 33,541 square feet and is zoned T-6-8, allowing for a development density of 150 units per acre. The existing leases expire October 31, 2025. The asking price is $4,750,000, with seller financing available. This prime location offers 250 linear feet of frontage on heavily trafficked NW 36th Street, situated between the Palmer Lake area and Allapattah, and just 2.5 miles from Miami International Airport. The property's existing income stream and significant redevelopment potential make it an attractive investment for discerning buyers. The buildings were constructed in 1938 and renovated in 2010. The property is classified as Class B, with a gross lease type and multi-tenant occupancy (two tenants). The property is offered fee simple.

    Property Features for 3520 33Rd Ave

    General Information

    Property type
    Automotive properties
    Square Feet
    33,541 SF
    Class
    B

    Building Details

    Year Built/Renovated
    1938/2010
    Units
    150

    HighLights

    • 0.77‑acre lot with two existing structures, offering both residential and commercial uses.
    • $216,000 in annual in‑place rent.
    • Seller financing available.
    • Redevelopment potential for approximately 116 units.
    • 250 linear feet of frontage on heavily trafficked NW 36th Street.
    • Prime location between Palmer Lake and Allapattah, near Miami International Airport.
    Property Profile Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2505654
    Latitude
    25.8084004

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    FAQs

    What type of property is this?
    Automotive property - High-yield multifamily redevelopment
    Where is this automotive property located?
    The property is located at 3520 33Rd Ave Miami, FL.
    What is the asking price?
    The asking price for this property is $4,750,000.
    What are key features of this property?
    This property features: 0.77-acre lot with two existing structures, offering both residential and commercial uses.; $216,000 in annual in-place rent.; Seller financing available.
    (305) 602-0360
    Request Owner's contact information
    3520 33Rd Ave Miami, FL 33142
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    Miami, FL 33142
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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
    3520 33Rd Ave Miami, FL 33142
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