3520 33Rd Ave Miami, FL 33142
- Auto shops
- 33,541 SF
Current Use by Public Records
- Auto shops
Property Details for 3520 33Rd Ave
- Year built
- 1938
- Property size
- 33,541 SF
- Property type
- Auto shops
- APN
- 01-3128-013-3450 & 01-3128-013-3440
Description
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.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.2505654
- Latitude
- 25.8084004
