786-385-9478
2464 Coral Way, Miami, FL for Sale
Office/Residential - FOR SALE
1/25
null | Request Cap Rate

2464 Coral Way
Miami, FL 33145


HIGHLIGHTS

  • Tours will be by appointment only, reach out to Todd Cohen to Schedule
  • Amazing user opportunity for ground-floor medical or professional offices with steady, in-place income through second-floor apartments.
  • Redevelopment opportunity on a rare double lot, entitled for four stories by right, in a market clamoring for additional multifamily housing.
  • Within walking distance of amenities including Publix, CVS, Urgent Care, Starbucks, and eateries like Sushi Kong, Maria's Greek, & The Waygu Bar.
  • Signalized intersection allows for easy ingress/egress from Coral Way as well as SW 25th Avenue, and the property has approximately 14 parking spaces.
  • Thriving 5-mile demographic with over 486,000 residents, average household income above $84,000 annually, and over 66% of residents rent.

OVERVIEW

Lee & Associates presents for sale a multi-tenant mixed-use Office and Multifamily building directly fronting Coral Way in Miami, Florida. The property consists of 2 parcels including a 3,950 SF, two-story building with private surface parking lot including 14 total parking spaces plus street parking along Coral Way. The 6-unit mixed-use building offers an excellent investment opportunity with the three (3) commercial ground floor units over 2,000 SF with 1400 SF vacant perfect for a medical or professional office user with the remaining 600 SF occupied by a month to month office user, and the second floor consisting of three (3) updated one bedroom / one bathroom multifamily apartment units of 650 SF each featuring tile flooring throughout, stainless steel appliances, and modern bathroom vanities. The ground floor office user will vacate if needed, offering an incredible user opportunity for a medical or professional office on the ground floor with income-producing units from the multifamily units above. The property is located under the Miami21 Zoning ordinance, zoned T5-O allowing future owners the potential to redevelop to higher density mixed-use building types up to four stories by right that can accommodate retail and office uses with a multifamily component included. The property is well located with a public transit bus stop directly fronting Coral Way, a major arterial thoroughfare connecting prestigious Coral Gables to Brickell neighborhoods, and within walking distance to many amenities including Publix, CVS, Urgent Care, Restaurants, and Starbucks.

FOR SALE DETAILS

PRICE

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CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Miami Apartments w/ Medical Office Upside

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

ADD'L SUBTYPES

Storefront Retail/Office, Loft/Creative Space, Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1956

SPRINKLERS

-

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

O

APN/PARCEL ID

01-4115-006-0220

ASK ABOUT THIS PROPERTY

Todd CohenLee & AssociatesMore Info
786-385-9478

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Todd CohenLee & AssociatesMore Info
786-385-9478

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.