251 Madeira Ave

MSP Group LLC is proud to have been appointed the exclusive listing broker for 251 Madeira Avenue Coral Gables, FL. 251 Madeira represents an extremely rare opportunity to acquire one of the few multifamily buildings in the epicenter of Coral Gables, FL with on-site parking for every unit. The property last sold 33 years ago and may very well not be sold again for another 30 plus years!
251 Madeira is walking distance to all the amenities and employment that can be found in downtown Coral Gables and Miracle Mile. Boasting a Walk Score of 93 known as a walker’s paradise, 251 Madeira is walking distance to numerous retail, dining, and employment centers. Coral Gables hosts over 10,000 businesses, including multinational corporations, regional headquarters, small businesses, and professional services. Around 200 multinational companies including household names like American Airlines, Bacardi, Fresh Del Monte Produce, HBO Latin America, and Hyatt have made Coral Gables their home. Coral Gables also has 20 consular and trade offices representing countries like Colombia, Italy, and Spain. Two of Coral Gables’s most notable newcomers include FIFA and Apple. FIFA has named Coral Gables as their Latin American headquarters and Apple will be leasing 45,000 SF of space in the newly developed Plaza. The vast majority of the above-mentioned companies are all walking distance from 251 Madeira. Just this year the City of Coral Gables made headlines as the ritziest neighborhood in the entire United States surpassing Beverly Hills. 251 Madeira is your opportunity to own an extremely well-located, income producing property in one of the most desirable cities in all of the United States of America and therefore the world.
The property consists of a good blend of six studios, five 1-bedroom/1-bathroom units and one expansive 2-bedroom/2-bathroom unit. Built in 1962, this two-story building with beautifully landscaped front facade and well laid out parking lot in the rear. The property was constructed of concrete block with concrete decks between the 1st and 2nd floor and has a new tile roof, completely replaced only a few years ago by the current owner. While the property has been well cared for over the years, it represents a prime opportunity for a new owner to unlock the huge potential in the property with small improvements and a more aggressive leasing plan that will command rents that are dramatically higher than the rents currently in place.