3490 NW 32nd Ave - Storefront Retail/Residential FOR SALE


Miami, FL 33142
$2,900,000 USD
305-915-3492
3490 NW 32nd Ave, Miami, FL for Sale
$2,900,000 USD
Storefront Retail/Residential - FOR SALE
1/32
null | 6.21% Cap Rate

3490 NW 32nd Ave
Miami, FL 33142


HIGHLIGHTS

  • Immediate Value-Add Opportunity: With residential units currently rented below market, there’s an opportunity for 15-20% income growth
  • Development Potential: Qualifying under the new Live Local SB 102 Act, this property offers the potential for high-density, mixed-use redevelopment
  • Diverse Income Streams:The property includes Monthly revenue from restaurant/nightclub ($9,000), four residential units ($7,200), and yard for ($2140)

OVERVIEW

Just blocks from Miami’s main NW 36th Street corridor. This versatile property delivers multiple income streams, featuring a spacious restaurant/nightclub generating $9,000 monthly on the ground floor and four residential units producing $7,200 monthly, with potential for 15-20% income growth without major repairs - current in place is $220,000 gross. A well-maintained CBS duplex includes two 2-bed, 1-bath units currently rented below market, presenting immediate upside. The property also includes a yard leased for truck parking and storage, adding $2,140 monthly. With substantial land banking potential, this property qualifies under the new Live Local SB 102 Act, offering the chance to enhance density and building height for a transformative high-density, mixed-use development.

FOR SALE DETAILS

PRICE

$2,900,000 USD

PRICE/SF

$467 USD /SF

CAP RATE

6.21%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cash Cow

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1945

SPRINKLERS

-

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.32 AC

LAND SF

13,939 SF

ZONING

BU-1A

APN/PARCEL ID

30-3128-013-0920

ASK ABOUT THIS PROPERTY

Miguel FuentesFausto Commercial Realty ConsultantsMore Info
305-915-3492

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Miguel FuentesFausto Commercial Realty ConsultantsMore Info
305-915-3492

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