Active

5840 SW 71 St

Miami FL, 33143

$9,000,000


$1,409.77 per sqft

Active

6,384 sqft

Commercial

Built in 2017

Discover a unique investment opportunity in South Miami, near US-1 and the University of Miami. This standalone, multi-tenant building is in the City's Specialty Retail--Hometown District Overlay. Covering 6,384 SF on a 10,700 SF lot, it boasts a Floor Area Ratio (FAR) of 1.6 and permits up to 4 stories.

The property features two fully equipped, second-generation restaurant spaces with complete kitchens, hood-vent systems, and walk-in coolers. An inviting outdoor courtyard enhances open-air dining. Located in an Opportunity Zone, it allows for extended operations until 4 AM without on-site parking requirements.

For investors, leasing at market rates of $85.00 NNN would generate a Net Operating Income (NOI) of $542,640 and a 6% Cap Rate.

A11382351

MLS ID

May 4, 2023

Listed

October 2, 2024

Updated

Map

5840 SW 71 St
Miami FL, 33143

Interior Features

Fireplace

No


Cooling

Yes


Cooling Description

Central Building A/C


Heating

No

Exterior/Building Features

Lot Size

0.25 Acres


Lot Features

Central Business District, City Location

Other Property Details

Taxes

$72,496


Tax Frequency

Annually


Days on Market

432


Garage

No


View

No


County

Miami-Dade County


Water Source

Public


Pool

No


Zoning

6300

Listing History

Date

Event

Price

5/23/2024

Price change

$9,000,000

-10%

9/12/2023

Price change

$9,900,000

-10%

Listed by:  RE/MAX 360 Real Estate
Listing Contact: 305-778-8944 

Based on information from the Miami Association of REALTORS®. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS.  All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. 

©2024 Miami Association of REALTORS® all rights reserved. 

Data last updated 2:37 AM UTC, 10/2/2024.

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