681 NW 108th St

Premier Salon Suites for Sale in Miami, FL. Seize the opportunity to own a premium salon suite in one of Miami's bustling neighborhoods. This well-established property, located at 681 NW 108th St, offers a perfect blend of modern amenities and an ideal location, ensuring a steady flow of clientele and substantial growth potential. Spacious layout with individual suites, ensuring privacy and a luxurious experience for clients. Seamless transition for new owners with an easy to manage setup. Opportunities for marketing partnerships and collaborations with local businesses. Room for hosting events, workshops, and exclusive client experiences. Detailed financial records available for serious buyers. Attractive return on investment with minimal initial effort required. Real Estate being offered as well.
The property is a two-story office building located adjacent to I-95, which sees approximately 240,000 cars daily. It is currently divided into thirty-three individual salons, each ranging from 90 to just under 200 square feet. The second floor is fully stabilized, while the first floor is in the lease-up stage. Once fully stabilized, this property is projected to generate $500,000 in gross income annually. Additionally, the site is prime for redevelopment, with the potential to expand up to four stories. Located in Central Miami, within the West Miami Shores subdivision, this submarket features 3.0 million square feet of logistics space, 240,000 square feet of specialized space, and 140,000 square feet of flex space. Current rents are approximately $19.80 per square foot, reflecting a 6.6% increase from last year and a cumulative increase of 41.1% over the past three years. This trend aligns with the broader Miami market, where average rents are $20.00 per square foot.