1365 37Th Ave Miami, FL 33145
- Commercial real estate
- 2,696 SF
Current Use by Public Records
- Commercial real estate
Property Details for 1365 37Th Ave
- Year built
- 1953
- Property size
- 2,696 SF
- Property type
- Commercial real estate
Description
This exceptional Miami, Florida investment opportunity presents two adjacent duplex properties totaling 2,696 square feet on a 12,360 square foot lot. Located at 1353 and 1365 SW 37th Ave, Miami, FL 33145, this stabilized Class B property boasts a 100% occupancy rate, generating a strong net operating income (NOI) of $86,400 and a 4.61% cap rate. Built in 1953 and renovated in 2021, the property features two buildings, each five stories high, with four units and two pads. The T5-O zoning allows for significant redevelopment potential, with the possibility of constructing up to 18 residential apartment units. The asking price is $1,875,000, representing a price per square foot of $695.47 and a land value of $303 per square foot. This is a rare chance to acquire a high-performing asset with substantial upside potential in a prime Miami location. The property's strong financials, combined with its redevelopment potential, make it an attractive investment for discerning buyers seeking significant returns. The existing structures provide immediate cash flow while the zoning allows for future expansion and increased profitability. This is a turnkey opportunity to capitalize on Miami's thriving real estate market.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.254855855363
- Latitude
- 25.759244734806
