Multi-tenant Center Little Havana, Miami, FL

Off Market

Property type: Commercial

Multi-tenant Center

Opportunity to acquire a multi-tenant property in Little Havana, Florida. The subject property has under market rents due to the fact that annual rent increases have not been implemented until recently and, therefore, there is a strong value-add component. Moreover, the property can be viewed from a covered land perspective and can be redeveloped in the future to its highest and best use. Little Havana is an up-and-coming Miami neighborhood with many new developments and gentrification is underway. The area has seen strong office/medical fundamentals, low vacancy rates and steady rent growth.

INVESTMENT SUMMARY | Multi-tenant property | Little Havana

Asking Price:	$3,200,000
TYPE:	Retail/medical or covered land
Zoning:	T6-8-O
Lot Size:	27,601 SF
Year Built:	1948, renovated 2006
GLA:	11,284 SF
Permitted Land Use:	150 units an acre per right
Cap rate:	5.5%
Proforma Cap Rate:	+/-6.25%
Parking:	30+ spaces