721 21St Ct Miami, FL 33125
- Office buildings
- 11,284 SF
- 0.62 lot acres
Current Use by Public Records
- Vidamax Medical Center / Medical Center
- Mega Health Center-East Little / Medical Center / General Practitioner
- FL Clinical Research Inst LLC / Medical Laboratory
- Viro Medical Center / Medical Center
- DeORLANDO INC / Hotel
Property Details for 721 21St Ct
- Year built
- 1948
- Construction
- CONCRETE
- Lot size
- 0.62 lot acres
- Property size
- 11,284 SF
- Zone code
- 6100:COMMERCIAL,NEIGHBRHD
- Property type
- Office buildings
- APN
- 01-3134-051-0750
- APU
- 131340510750
Description
This exceptional multifamily property, located at 721 NW 21st Ct in Miami, Florida, presents a compelling investment opportunity. Boasting 11,284 square feet, this property, built in 1948, is currently configured as a turnkey medical facility, suitable for use as a clinic or HMO. Its strategic location in the heart of Little Havana offers significant potential for future development, particularly given its ideal position on a corner lot, encompassing an entire city block. The property includes a substantial 50-space parking lot, a rare and valuable asset in this area. Its proximity to major medical facilities like Jackson Memorial Hospital and the University of Miami Hospital, along with the new Miami Marlins stadium and the vibrant Downtown Miami and Brickell financial districts, further enhances its appeal. The asking price is $4,900,000. This property is easily accessible for viewing. The substantial size and prime location make this an excellent opportunity for an investor seeking to capitalize on the burgeoning Miami real estate market, potentially through redevelopment into a high-rise structure. The property's current use as a medical facility provides immediate income potential while offering long-term development prospects. This is a rare chance to acquire a significant piece of Miami real estate in a rapidly growing area. The zip code is 33125.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $4,875,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $3,775,000
- 6.5%
- $4,005,000
- 7%
- $4,100,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $3,820,000
- Geo Method
- $3,565,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $3,970,000
- Retail
- $3,875,000
- Mixed-Use
- $3,285,000
- Hospitality
- $4,065,000
- Educational
- $3,255,000
- Residential Income
- $4,150,000
- Energy
- $4,075,000
- Income-Based Land
- $3,685,000
- Food Service
- $4,430,000
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-dade
- State
- Florida
- Longitude
- -80.23
- Latitude
- 25.78
- CBSA code
- 33100
- CBSA name
- MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
