68 6Th St Miami, FL 33131
- Mixed-use properties
Current Use by Public Records
- Blink Charging Station / Electric Vehicle Charging Station
- HOUSE OF CRAVEN / Auction House
- Mercado Food Group / Store
- Yoro Marketing / Marketing Agency
- Reach Brickell City Centre / Apartment Building
Property Details for 68 6Th St
- Year built
- 2016
- Property type
- Mixed-use properties
Description
This exceptional investment opportunity presents a portfolio of nine luxury condo units in a sought-after Brickell, Miami location. The property, built in 2016, boasts a 100% occupancy rate with a current Net Operating Income (NOI) of $400,000 and a pro-forma NOI of $275,000, yielding a 7.00% cap rate. The asking price is $3,750,000, translating to $740,000 per unit. Each unit features one bedroom and 1.5 bathrooms, with sizes ranging from 1,000 square feet. The building offers an array of upscale amenities, including a half-acre pool area, a spa, a children's play area, a fitness center, a library, and entertainment spaces. This mixed-use condo is situated at 68 SE 6th St, Miami, FL 33131, conveniently connected to Brickell City Centre. The property is zoned for residential use and includes one parking space per unit. The sale is structured as a sale/leaseback with a one-year lease term and a net-net lease (NN) agreement. This represents a rare opportunity to acquire a high-performing, fully occupied, luxury condo portfolio in a prime Miami location. The land value is $680 per square foot. While individual unit sales are possible, this offering presents a compelling opportunity for bulk acquisition.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.1924
- Latitude
- 25.7682
