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- LoopNet Team
7101 Biscayne Blvd
Miami, FL 33138
Adaptive ReUse &/or Development Site · Office Property For Sale
Investment Highlights
- Ability to recoup development & remodel costs by selling up to 80,000 in Dev Rights for up to approx. $600,000 +/-
- Mixed Use Potential: Retail, Office, Live/work, add residential apartments or hotel/short-term rentals
- Potential 6% Cap for Investors seeking commercial income properties if remodeled and leased at $30/SF NNN
- Great signage ability potential with over 51,000 + cars per day passing on Biscayne Blvd
- Perfect for end users such as shared-work spaces, larger office needs, show room, retail and more.
- See attached Offering Memorandum & Architectural analysis by Future Vision Studios | Aaron DeMayo
PROPERTY FACTS
Amenities
- Bus Line
- Fenced Lot
- High Ceilings
- Air Conditioning
About 7101 Biscayne Blvd , Miami, FL 33138
As a stand-along building, after renovations but without increasing the building foot-print, if the property were leased at $30/SF NNN, the square footage were the same, and development rights sold off to fund the improvements, the following proforma valuation is attained: Building SF: 6,979 SF Rent/SF: $30/SF NNN attainable after renovations. Proforma NOI: $209,370/year or $17,447.50/month (net) Assumed Cap Rate: 6.0% Proforma Valuation: $3,489,500 Owner Benefit: Fund improvement costs by selling development rights (TDR’s & TDD’s) valued at up to $600,000 +/- Offered at: $3.50 mm
PROPERTY TAXES
| Parcel Number | 01-3207-032-0710 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,966,091 |
PROPERTY TAXES
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