Mixed-Use Property – 2000 Sq Ft in Miami, FL – T5-O Zoning with Density Upside

Category: Mixed-Use

Price:$8,000,000

Location: Miami, FL

Year Built: 1972

Days on Market: 12

Description:

Strategically positioned on the northern perimeter of the Coconut Grove Metrorail transit area, this high-visibility asset falls well within the radius qualifying for Transit Station Neighborhood District designation - opening the door to density upside on its current T5-O zoning. The building's first floor is primarily covered parking, with 96% of rentable area concentrated on the second and third floors. Existing short-term leases provide immediate income while preserving flexibility for repositioning. Floor plans, survey, and lease details are available upon request. Projected stabilized cap rate - applying market rents with reasonable assumptions for vacancy, management, maintenance, reserves, and leaseup costs - exceeds 6%.

Grove Metrorail perimeter. T5-O zoning within TSND radius — density upside potential. 96% of RBA on 2nd/3rd floors. Potential stabilized cap rate 6%+.

Listing Code: 1153400560