350 Miami Ave Miami, FL 33131

This exceptional 4,600 square foot commercial unit, located at 350 S Miami Ave, Miami, FL 33131, presents a lucrative investment opportunity. The two-story building, constructed in 2008 and renovated in 2022, boasts 20 units with a current 50% occupancy rate (42 tenants total). A gross lease structure is in place with a one-year lease term and a current NOI of $280,000, yielding a 5.00% cap rate. The asking price is $3,800,000, translating to $826 per square foot. The property features a ground lease expiring August 28, 2025, and benefits from a prime location in a desirable Miami neighborhood, close to the Brickell Financial District. The zoning allows for medical, executive, and general business uses. Two parking spaces are included. Annual rent bumps of $200 are in place. The property is currently owner-occupied and is being offered for sale by owner. The ideal buyer will appreciate the strong potential for increased occupancy and revenue in this thriving Miami location. The property is suitable for owner-users seeking a high-return investment in a dynamic urban environment. The building's recent renovation ensures modern amenities and functionality. This is a rare opportunity to acquire a well-located, income-producing commercial property in a rapidly developing area of Miami.