Property profile

6040 21st St Miramar, FL 33023

OFF-MARKET
Specialty properties
Property ID
US19-0659190
11,747 SF 0.27 ac lot Built 1972
Entity Owned 9-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 11,747-square-foot mixed-use building presents a unique investment opportunity in Miramar, Florida. Completely renovated in 2023, this two-story, Class C property boasts a versatile layout ideal for various uses, including restaurant, storefront, or traditional office space. The building features 2 loading docks, 2 dock-high doors, and an impressive 18-foot ceiling height. Situated on a 23,136-square-foot lot, it includes a private gated parking lot with over 21 spaces. The property's zoning (SD) allows for flexible uses such as banquet halls, catering services, or entertainment venues. A current 13CT full liquor catering license is available. The building's strong pro-forma NOI of $246,450 and a pro-forma cap rate of 9.30% indicate significant potential for return on investment. Located on SW 21st Street, this property benefits from high traffic counts exceeding 36,000 vehicles per day and proximity to major attractions like the Seminole Hard Rock Casino and Fort Lauderdale International Airport. The surrounding area is densely populated, with a high average household income, and includes numerous established retailers. The building's roof was sealed in 2023, eliminating the need for immediate improvements. This is a turnkey opportunity for an owner-user or investor seeking a high-return property in a thriving commercial area. The property's address is 6040 SW 21st St, Miramar, FL 33023, APN 514124010170. Vacant and ready for immediate occupancy starting May 3, 2024. Asking price is $2,650,000.

Property profile

Verified
Property type Specialty properties
Use group PROFESSIONAL CLUBS/ASSOCIATIONS
Year built 1972
Construction CONCRETE
Total area 11,747 SF
Lot 0.27 ac (11,575 SF)
Zoning code SD
APN 51-41-24-01-0170
UPID US19-0659190

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Marketing & Advertising Event Planning
  • Marketing & Advertising Event Planning
  • (Bike/Boat/Book/etc) Store Home Decor Store
  • Party Supply Store Rental Equipment Company
  • Wedding Service

Location

6040 21st St Miramar, FL 33023-2921
Miramar metro Census 91500 MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$550k
CAP Approach CAP
by Request
Comparable Approach Comparable
$639k
Blend (final) Blend
$595k

Owner & transaction history

since 2017
3 recorded transactions
2017
$1.1M
2003
$485,000
1969
Price N/A

Zoning & alternative use

SD · Miramar, FL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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