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    540 79Th St Miami, FL 33150

    For Sale
    $2,600,000

    Miami Retail Development Land

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    367
    This exceptional 14,560 sq ft retail development site in Miami, Florida, is offered at $2,600,000. Zoned T6-8-O, it allows for high-density development, including residential, hotel, or office uses, with potential for up to eight stories and 150 dwelling units per acre. Currently leased, generating a net operating income of $66,000, this property presents significant upside growth potential. Located on NW 79th Street, a high-traffic corridor (27,000 cars daily) in the Little River Opportunity Zone, it benefits from excellent access to major thoroughfares like I-95 and is minutes from Wynwood, Midtown, and the Design District. The Little River area is experiencing rapid growth, attracting creative businesses and developers. This hard corner location offers tax exemption benefits through the Live Local Act for affordable housing developments. The property's strategic location and zoning flexibility make it an ideal investment opportunity with substantial future development potential.

    Property Features for 540 79Th St

    General Information

    Property type
    Retail properties

    HighLights

    • 14,560 SF retail site in Miami, FL, offered at $2,600,000.
    • High‑density zoning (T6‑8‑O) allows for residential, hotel, or office development up to eight stories.
    • Currently leased, generating $66,000 annual net operating income with significant upside potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto Tempt Leasing ... Used Car Dealer

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2060248
    Latitude
    25.847015

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    FAQs

    What type of property is this?
    Retail property - Miami Retail Development Land
    Where is this retail property located?
    The property is located at 540 79Th St Miami, FL.
    What is the asking price?
    The asking price for this property is $2,600,000.
    What are key features of this property?
    This property features: 14,560 SF retail site in Miami, FL, offered at $2,600,000.; High-density zoning (T6-8-O) allows for residential, hotel, or office development up to eight stories.; Currently leased, generating $66,000 annual net operating income with significant upside potential.
    (917) 312-2219
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    540 79Th St Miami, FL 33150
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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
    540 79Th St Miami, FL 33150
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