7090 59th Pl ,Retail, Mixed Use for Sale & Rent

7090 59th Pl for Sale & Rent

Price $3,999,995.00

  • Lot size 8334
  • Year Build 1964
  • Waterfront
  • Zip 33143
  • Style
  • Parking Description Common
  • Pool Yes
  • Status Active
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Description

Property is currently leased through 10/24/2023- Annual Rent of $273k.Property upgrades to include Impact Windows and Doors, 3 new HVAC systems, Electric gate, paved and restriped parking lot & New landscaping. Free-standing retail building located on the corner of SW 59th Pl and SW 71st St, has proposed plans to demolish and develop an 8-story 56-unit residence with ground floor retail and office suites. The corner lot is situated directly across from the South Miami Metro Rail Station, with ideal proximity to the nearby retail shops, University of Miami, Sunset Place Shops, and other local retail and amenities. This existing retail improvement and the lot are located within an opportunity zone that aims to increase the development of mixed-use, retail, and multi-family properties.

Proposed development of a mixed-use 8-story 60 unit multi-family improvement within an opportunity zone. Sale price per unit has increased more than 9% in the last year, averaging over $320,000 per unit. 5.63% Cap Rate Property is currently leased through 10/24/2023. Annual Rent - $273k. By Appointment Only - Do Not Disturb the Tenants.

25 54 40 .19 AC M/L COMMERCIAL LARKINS AMD PB 38-5 S110FT OF TRACT 1 LOT SIZE 8334 SQ FT OR 10408-1964 0579 1

City Location, Corner Unit, Corner Lot, Out Parcel

Property is currently leased through 10/24/2023- Annual Rent of $273k.Property upgrades to include Impact Windows and Doors, 3 new HVAC systems, Electric gate, paved and restriped parking lot & New landscaping. Free-standing retail building located on the corner of SW 59th Pl and SW 71st St, has proposed plans to demolish and develop an 8-story 56-unit residence with ground floor retail and office suites. The corner lot is situated directly across from the South Miami Metro Rail Station, with ideal proximity to the nearby retail shops, University of Miami, Sunset Place Shops, and other local retail and amenities. This existing retail improvement and the lot are located within an opportunity zone that aims to increase the development of mixed-use, retail, and multi-family properties.

City:South Miami,Zoning:6801,List A O R:A-Miami Association of REALTORS,Stories:1,Flooring:1:Other,2:Vinyl,Latitude:25.7054619,List Price:3999995,Listing Id:A11299782,Longitude:-80.2906223,Mls Status:Active,Ownership:Limited Partnership,Year Built:1964,Inclusions:Building & Land,Postal Code:33143,Street Name:59th Pl,Coordinates:1:25.7054619,Lot Features:1:Corner Unit,2:Corner Lot,3:Out Parcel,Photos Count:17,Days On Market:42,Lot Size Units:Square Feet,On Market Date:2022-11-08,Parcel Number:09-40-25-025-0010,Parking Total:14,Property Type:Commercial Sale,Stories Total:1,Street Number:7090,Public Remarks:Property is currently leased through 10/24/2023- Annual Rent of $273k.Property upgrades to include Impact Windows and Doors, 3 new HVAC systems, Electric gate, paved and restriped parking lot & New landscaping. Free-standing retail building located on the corner of SW 59th Pl and SW 71st St, has proposed plans to demolish and develop an 8-story 56-unit residence with ground floor retail and office suites. The corner lot is situated directly across from the South Miami Metro Rail Station, with ideal proximity to the nearby retail shops, University of Miami, Sunset Place Shops, and other local retail and amenities. This existing retail improvement and the lot are located within an opportunity zone that aims to increase the development of mixed-use, retail, and multi-family properties.,County Or Parish:Miami-Dade County,Expiration Date:2023-03-31,List Office Name:Boschetti Realty Group, LLC.,Private Remarks:Proposed development of a mixed-use 8-story 60 unit multi-family improvement within an opportunity zone. Sale price per unit has increased more than 9% in the last year, averaging over $320,000 per unit. 5.63% Cap Rate Property is currently leased through 10/24/2023. Annual Rent - $273k. By Appointment Only - Do Not Disturb the Tenants.,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:3528,Property Sub Type:Retail,State Or Province:FL,Street Dir Prefix:SW,Tax Annual Amount:14172,Unparsed Address:7090 SW 59th Pl, South Miami FL 33143,Listing Agreement:Exclusive Right To Sell,Security Features:1:Smoke Alarm,2:Smoke Detector(s),3:Security Fence,4:Security Gate,Year Built Details:Resale,Building Area Total:3200,Building Area Units:Square Feet,Lot Size Square Feet:8334,M I A M I R E_ For Sale Y N:1,Number Of Buildings:1,Original List Price:3999995,Public Survey Range:40,I D X Participation Y N:1,Syndication Remarks:Property is currently leased through 10/24/2023- Annual Rent of $273k.Property upgrades to include Impact Windows and Doors, 3 new HVAC systems, Electric gate, paved and restriped parking lot & New landscaping. Free-standing retail building located on the corner of SW 59th Pl and SW 71st St, has proposed plans to demolish and develop an 8-story 56-unit residence with ground floor retail and office suites. The corner lot is situated directly across from the South Miami Metro Rail Station, with ideal proximity to the nearby retail shops, University of Miami, Sunset Place Shops, and other local retail and amenities. This existing retail improvement and the lot are located within an opportunity zone that aims to increase the development of mixed-use, retail, and multi-family properties.,Listing Contract Date:2022-11-08,Originating System I D:miamire,Public Survey Section:25,Street Number Numeric:7090,Tax Legal Description:25 54 40 .19 AC M/L COMMERCIAL LARKINS AMD PB 38-5 S110FT OF TRACT 1 LOT SIZE 8334 SQ FT OR 10408-1964 0579 1,Electric On Property Y N:1,Public Survey Township:40,Construction Materials:1:Concrete Block With Brick,2:CBS Construction,3:Insulated,Originating System Name:Miami Association of REALTORS?,Sub Agency Compensation:3%,Contract Status Change Date:2022-11-08,Internet Address Display Y N:1,Number Of Units In Community:2,Internet Consumer Comment Y N:1,Transaction Broker Compensation:3%,Internet Entire Listing Display Y N:1,Transaction Broker Compensation Type:%,Internet Automated Valuation Display Y N:1,

  • Price $3,999,995.00
  • Price Change: 2022-11-07
  • Lot size sq. ft.
  • Price per sq.ft. $
  • Year Build 1964
  • Waterfront
  • View
  • Pool Yes
  • Style
  • Construction Brick, Concrete Block With Brick, CBS Construction, Insulated
  • Parking Description Common
  • Flooring Type Concrete, Other, Vinyl
  • Property Type Commercial Sale
  • Status Active
  • Listed 2022-11-07
  • Days on Market 84
  • Furnished
  • City South Miami
  • Zip 33143
  • State Florida
  • Subdivision
  • Development Name
  • HOA Fees
  • Taxes 14172
  • Taxes Year