Single-Tenant Micro-Retail Building 7931 Biscayne Blvd
1,115 SF Retail Building Miami, FL 33138 $1,295,000 ($1,161.43/SF)
INVESTMENT HIGHLIGHTS
- National tenant appeal, high visibility location with traffic count of 67,000 AADT
- Strategic hard-corner location surrounded by national tenants such as CVS, McDonalds, Wendy's, Taco Bell, and more
- T6-8-O zoning for future development right up to 8 stories
- Located in high-growth neighborhood with 3,000+ residential units slated for development in the Little River / North Bay Village area
- Existing credit tenant in place with option for seller to deliver vacant at buyer request
EXECUTIVE SUMMARY
The Alpha Commercial is proud to present a freestanding micro-retail building at Little River’s ultra high-traffic Biscayne Boulevard & NE 79th Street hard-corner intersection.
With nearly 70,000 average daily vehicles, this property has proven national-tenant appeal, offering maximum visibility for any business looking to establish a permanent presence in one of Miami’s hottest growth areas before the pipeline of new projects floods the market.
Historically and currently occupied by national tenant Metro by T-Mobile, the tenancy is at a flex-point, presenting a unique opportunity for an end-user to occupy the space or an investor to re-tenant the building with a fresh NNN lease at market rents.
**Seller is prepared to deliver property vacant at buyer’s request.
The highest-best buyer for this property is likely an end-user for whom this location surrounded by national tenants at a busy intersection is invaluable. Any kind of dry retail would thrive here, and the property used to be a restaurant so there is existing infrastructure for a grease-trap (most likely would need to be brought up to code).
Another option would be to re-tenant the property at market rents, which we estimate to be around $55/SF NNN on pro-forma (possibly slightly higher due to the micro nature of the space). At the asking price, that puts you just under a 5% CAP on pro-forma, and remember the future development potential weights into future value here as well.
With nearly 70,000 average daily vehicles, this property has proven national-tenant appeal, offering maximum visibility for any business looking to establish a permanent presence in one of Miami’s hottest growth areas before the pipeline of new projects floods the market.
Historically and currently occupied by national tenant Metro by T-Mobile, the tenancy is at a flex-point, presenting a unique opportunity for an end-user to occupy the space or an investor to re-tenant the building with a fresh NNN lease at market rents.
**Seller is prepared to deliver property vacant at buyer’s request.
The highest-best buyer for this property is likely an end-user for whom this location surrounded by national tenants at a busy intersection is invaluable. Any kind of dry retail would thrive here, and the property used to be a restaurant so there is existing infrastructure for a grease-trap (most likely would need to be brought up to code).
Another option would be to re-tenant the property at market rents, which we estimate to be around $55/SF NNN on pro-forma (possibly slightly higher due to the micro nature of the space). At the asking price, that puts you just under a 5% CAP on pro-forma, and remember the future development potential weights into future value here as well.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
1,115 SF
Building Class
C
Year Built
1949
Price
$1,295,000
Price Per SF
$1,161.43
Tenancy
Single
Building Height
1 Story
Building FAR
0.43
Lot Size
0.06 AC
Zoning
T6-8-O - Allowable Uses: Retail, Office, Learning Center, Multi-Family, Mixed-Use, Hotel. Max Height: 8 stories, Max. Density: 8 units
Frontage
25’ on Biscayne Boulevard
AMENITIES
- Bus Line
Walk Score®
Walker's Paradise (94)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 01-3207-016-3410 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $236,041 |
