request_info_guest false

Midtown Miami Office Building

$3,350,000

3401 N. Miami Ave, Miami, FL 33127

Active
Last Updated: 10/08/2021

5.79

Cap Rate

173,841

NOI

Details:
Cap Rate:    5.79%
NOI:    $173,841
Building Size:    5,220 sqft
Lot Area:    17.53 acres
Occupancy:    50%
Class:    B
Lease Type:    Double Net
Year Built:    2006
Price Per Sqft:    $574.71
Floors:    2
Highlights:
  • 11 Enclosed Offices 2nd Floor
  • 1st Floor Popular Co-Worker Lease Space Concept
  • User Friendly Atmosphere For Clients
  • Equipped With Handicap Stair Elevator
  • 5,220 Sf Total Leasable Area
  • Monthly Garage Parking $90.00 Unlimited
  • 4 Office Condo Units Facing Ne 34th Street
  • Solid CBS Construction
  • View To The South On NE 34th Street
  • Private Offices Are Fully Furnished
  • Conference Room To Meet With Clients
  • Kitchen Usage & Printing Area's Included
Description:

The subject property consists of four office/retail condominium units (also known as creative lofts) and converted into a single unit. The units are part of the North Block Condominium development, with a street address of 3401 North Miami Avenue, Units 230, 231, 232, 233, Miami, Miami Dade County, Florida. The total square footage used in the appraisal includes the second floor build-out for a total Sports Authority, Home Goods, Nordstrom Rack, West Elm, Ross Dress for Less, and many other national in-line tenants.I of approximately 5,220 square feet.

The measurements are based on plans provided by Ms. Fabiana Trevino and prepared by Rafael R. Eguillor With Architecture & Consulting Inc. However, the Miami Dade County Property Appraiser and the North Block Condominium Documents show that each unit (units # 230, 231, 232, 233) is approximately 693 square feet (33 X 21), or a total of 2,772 square feet.

The county includes an additional 10% for common areas. These measurements do not include the second floor (mezzanine) office build-out.North Block Condominium is comprised of 42 condominium units with a median unit size of 693 square foot. North Block Condo is part of an overall larger development known as the Shops of Midtown. The Shoppes of Midtown is a power center anchored by Target, Marshalls.

Map:
Documents:
Title
OPTIMAR OM FOR SALE ONLY OFFICE MIDTOWN MIAMI LW 05 2018 .pdf
* Documents permissions are set by the listing owner, request information to access locked documents.
Location
Gallery