7931 Biscayne Blvd - Storefront FOR SALE


Miami, FL 33138
$1,295,000 USD
305-697-7011
7931 Biscayne Blvd, Miami, FL for Sale
$1,295,000 USD
Storefront - FOR SALE
1/12
null | Request Cap Rate

7931 Biscayne Blvd
Miami, FL 33138


HIGHLIGHTS

  • National tenant appeal, high visibility location with traffic count of 67,000 AADT
  • Located in high-growth neighborhood with 3,000+ residential units slated for development in the Little River / North Bay Village area
  • Strategic hard-corner location surrounded by national tenants such as CVS, McDonalds, Wendy's, Taco Bell, and more
  • Existing credit tenant in place with option for seller to deliver vacant at buyer request
  • T6-8-O zoning for future development right up to 8 stories

OVERVIEW

The Alpha Commercial is proud to present a freestanding micro-retail building at Little River’s ultra high-traffic Biscayne Boulevard & NE 79th Street hard-corner intersection. With nearly 70,000 average daily vehicles, this property has proven national-tenant appeal, offering maximum visibility for any business looking to establish a permanent presence in one of Miami’s hottest growth areas before the pipeline of new projects floods the market. Historically and currently occupied by national tenant Metro by T-Mobile, the tenancy is at a flex-point, presenting a unique opportunity for an end-user to occupy the space or an investor to re-tenant the building with a fresh NNN lease at market rents. **Seller is prepared to deliver property vacant at buyer’s request. The highest-best buyer for this property is likely an end-user for whom this location surrounded by national tenants at a busy intersection is invaluable. Any kind of dry retail would thrive here, and the property used to be a restaurant so there is existing infrastructure for a grease-trap (most likely would need to be brought up to code). Another option would be to re-tenant the property at market rents, which we estimate to be around $55/SF NNN on pro-forma (possibly slightly higher due to the micro nature of the space). At the asking price, that puts you just under a 5% CAP on pro-forma, and remember the future development potential weights into future value here as well.

FOR SALE DETAILS

PRICE

$1,295,000 USD

PRICE/SF

$682 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Single-Tenant Micro-Retail Building

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Convenience Store, Restaurant, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1949

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,500 SF

ZONING

T6-8-O

APN/PARCEL ID

01-3207-016-3410

ASK ABOUT THIS PROPERTY

Jamie ManiscalcoThe Alpha CommercialMore Info
305-697-7011

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Jamie ManiscalcoThe Alpha CommercialMore Info
305-697-7011

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