Cash Cow | 3490 NW 32nd Ave
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Cash Cow 3490 NW 32nd Ave
6,213 SF Retail Building Miami, FL 33142 £2,269,105 (£365/SF) 6.21% Net Initial Yield
Investment Highlights
- Immediate Value-Add Opportunity: With residential units currently rented below market, there’s an opportunity for 15-20% income growth
- Diverse Income Streams:The property includes Monthly revenue from restaurant/nightclub ($9,000), four residential units ($7,200), and yard for ($2140)
- Development Potential: Qualifying under the new Live Local SB 102 Act, this property offers the potential for high-density, mixed-use redevelopment
Executive Summary
Just blocks from Miami’s main NW 36th Street corridor. This versatile property delivers multiple income streams, featuring a spacious restaurant/nightclub generating $9,000 monthly on the ground floor and four residential units producing $7,200 monthly, with potential for 15-20% income growth without major repairs - current in place is $220,000 gross. A well-maintained CBS duplex includes two 2-bed, 1-bath units currently rented below market, presenting immediate upside. The property also includes a yard leased for truck parking and storage, adding $2,140 monthly. With substantial land banking potential, this property qualifies under the new Live Local SB 102 Act, offering the chance to enhance density and building height for a transformative high-density, mixed-use development.
Property Facts
Sale Type
Investment
Sale Condition
Tenants option to buy property
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
6,213 SF
Building Class
C
Year Built
1945
Price
£2,269,105
Price Per SF
£365
Net Initial Yield
6.21%
NOI
£141,005
Tenancy
Single
Number of Floors
1
Building FAR
0.45
Lot Size
0.32 AC
Zoning
BU-1A - SB102 Live local act candidate
Parking
14 Spaces (2.25 Spaces per 1,000 SF Leased)
Frontage
84 ft on NW 32nd Ave
Amenities
- Restaurant
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 30-3128-013-0920 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £482,850 |
PROPERTY TAXES
Parcel Number
30-3128-013-0920
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£482,850
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Cash Cow | 3490 NW 32nd Ave
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