2205 NW 20Th St Miami, FL 33142
- Outlet malls
- 8,546 SF
- 0.37 lot acres
Current Use by Public Records
- A/C Repair Miami / Air Conditioning Repair Service
- Cheap Towing Miami& Roadside Assistance / Towing Service
- River Marine Supply / Marine Supply Store
- O'Reilly Inc / General Contractor
- Schaden Botsford and Willms / General Contractor
Property Details for 2205 NW 20Th St
- Year built
- 1995
- Construction
- CONCRETE
- Lot size
- 0.37 lot acres
- Property size
- 8,546 SF
- Zone code
- 6100:COMMERCIAL,NEIGHBRHD
- Property type
- Outlet malls
- APN
- 01-3127-046-1770
- APU
- 131270461770
Description
This exceptional 8,546-square-foot freestanding retail building in Miami's Allappattah neighborhood presents a compelling investment opportunity. Situated on a prominent hard corner with a traffic light and featuring a large advertising pylon with potential for significant additional income (up to $10,000/month), this property offers substantial upside. Currently operating under a triple-net (NNN) lease with a single tenant, the lease boasts a remaining term of 2 years and includes a 7% annual rent escalation clause. The building, constructed in 1995 and extensively renovated in 2020, features 18-foot high ceilings, a large showroom, office and warehouse areas, and 17 on-site parking spaces. The property sits on a 0.37-acre lot (16,177 sq ft) and benefits from street-level roll-up doors and two dock-high doors, providing excellent accessibility. The building's strong construction (Twin-T) includes a recently replaced roof and central AC systems. The current Net Operating Income (NOI) is $185,000, with a pro-forma NOI of $297,000. The asking price is $5,749,000, representing a pro-forma cap rate of 5.17%. The permitted zoning is 6100 COMMERCIAL - NEIGHBORHOOD. This property is ideally suited for an owner-user upon lease expiration, offering a blend of immediate income and long-term potential. The combination of a strong lease, prime location, and significant renovation makes this a rare and valuable asset.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $565,000
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Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-dade
- State
- Florida
- Longitude
- -80.2318
- Latitude
- 25.7948
- CBSA code
- 33100
- CBSA name
- MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
