Property Details for 5979 151St St

Year built

1980

Lot size

1.73 lot acres

Property size

56,343 SF

Property type

Office properties & Spaces

Description

This exceptional investment opportunity presents a two-story, multi-tenant office building situated on a 1.73-acre lot in Miami Lakes, Florida, at 5979 NW 151st St, zip code 33014. The property, built in 1980 and renovated in 2007, offers 56,343 square feet of gross leasable area and 49,493 square feet of net rentable area. Currently boasting 100% occupancy, this Class B building features 181 parking spaces and provides a strong net operating income (NOI) of $405,546, resulting in a compelling 6.34% cap rate. The asking price is $6,400,000, translating to a price per square foot of $113.59. The property benefits from a gross lease structure and is conveniently located within the Miami Lakes Business Park East, offering easy access to major roadways including Red Road, SR 826, and SR 924, and is adjacent to a proposed 59th Ave extension. The strong demographics of the area, with over 200,000 residents and 73,000 employees within a three-mile radius, contribute to the property's significant potential for future income growth. Financial details and rent rolls are available upon request. This value-add investment presents a rare opportunity to acquire a well-maintained, high-performing asset in a thriving South Florida market. The property's current average building rent is 30% below market, offering significant upside potential. The property's APN is 3220240150190.

Location Insight

City

Miami Lakes

County

Miami-Dade

State

Florida

Longitude

-80.2979

Latitude

25.9113