Mixed-Use Property – 34,000 Sq Ft in Miami, FL – Redevelopment Opportunity with Existing Income

Category: Mixed-Use

Price:$4,300,000

Location: Miami, FL

Year Built: 1938

Days on Market: 6

Description:

"MELROSE REDEVELOPMENT 116 units with EXISTING INCOME." This offering includes two contiguous lots (3340 NW 36 ST & 3520 NW 33 AVE) on 36th Street, totaling approximately 0.77 acres or around 34,000 square feet. The property features a commercial auto dealer storefront of about 1,000 square feet on the western lot, and a residential duplex with approximately 2,800 square feet on the corner. Both structures are currently occupied by short-term tenants, generating an annual rental income of $216,000. The lots benefit from favorable T6-8 O zoning, which allows for development density of 150 units per acre "by right."

The submarket extends north from the City of Miami Gardens to the Allapattah neighborhood to the south, bordered by I-95 on the east.

Listing Code: 1076437921