Investment Highlights
Prime South Miami Location
Two Equipped Restaurant Spaces
Zoning: Specialty Retail - Hometown District Overlay
6,384 SF Bldg., 10.700 SF Lot
End-User Opportunity
Near Avalon Bay South Miami project and Transformative Sunset Place
Executive Summary
Explore a distinctive commercial investment opportunity in the dynamic heart of South Miami, just off US-1 and close to the University of Miami. This standalone, multi-tenant building is perfectly positioned within the City of South Miami's Specialty Retail - Hometown District Overlay, offering flexibility and potential for growth. Covering 6,384 SF on a 10,700 SF lot, this property presents a significant development prospect with a Floor Area Ratio (FAR) of 1.6 and a permissible build height of up to 4 stories.Currently, the building houses two fully equipped, second-generation restaurant spaces featuring complete kitchens, state-of-the-art hood-vent systems, and walk-in coolers. An inviting outdoor courtyard makes it ideal for open-air dining. Benefiting from multi-use zoning in an Opportunity Zone, it offers potential tax incentives and allows extended operations until 4 AM, with no on-site parking requirements.The property can easily be leased at a market rate of $85.00 NNN, resulting in a Net Operating Income (NOI) of $542,640 and a 6% Cap Rate. The property's value is enhanced by the nearby redevelopment of Sunset Place, which is rejuvenating the area by promoting pedestrian-friendly environments with new residential, office, and retail spaces. Additionally, the forthcoming Avalon South Miami by AvalonBay promises to bring 290 luxury apartments and 31,000 square feet of retail space by the end of 2025. This property is a prime investment for those looking to tap into the vibrant and growing South Miami market.
