Coral Way Portfolio 1820-1830 SW 3rd Ave
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Coral Way Portfolio 1820-1830 SW 3rd Ave
2 Retail Properties in Miami, FL
Investment Highlights
- Retail Investment Property
- High traffic exposure
- Owner User Property
Executive Summary
Prime investment/owner user opportunity for a 2 property portfolio near Brickell financial district in Miami. SW 3rd Av (Coral Way) is the main corridor connecting Brickell with Coral Gables with high daytime traffic, the property has great exposure, visibility and easy access. Property was fully renovated in 2023. Currently the property at 1830 is fully leased on long term leases and the property at 1820 is vacant.
The three folio property consists of:
a) Parcel 1 - Two fully leased retail spaces with a total of 5,424 SF sitting on a 14,560 SF Lot. Both well established local tenants.
b) Parcel 2- A two story structure with a retail with drive through on the ground floor, and two private offices suitable for owner/user on the 2nd floor. 2nd floor is currently being converted to its original use which is 2 residential apartments that could generate greater income through short term rentals. The structure consist of 8,256 SF sitting on a 6,500 SF Lot.
c) Parcel 3 - The third folio consist of a surface parking lot that supplements the parking for retail and office, this lot is 6,750 SF
Total Portfolio consists of +/-13,713 of RSF and +/-27,810 SF of land.
Property is currently zoned T-6-8-O on the front lots facing Coral Way, which allow various commercial uses and T-3R for the back lot.
Property pro-forma and actual available upon request and proof of funds. Do not disturbe Tenants, showings accompanied by agent with prior 24hr notice.
NDA attached.
The three folio property consists of:
a) Parcel 1 - Two fully leased retail spaces with a total of 5,424 SF sitting on a 14,560 SF Lot. Both well established local tenants.
b) Parcel 2- A two story structure with a retail with drive through on the ground floor, and two private offices suitable for owner/user on the 2nd floor. 2nd floor is currently being converted to its original use which is 2 residential apartments that could generate greater income through short term rentals. The structure consist of 8,256 SF sitting on a 6,500 SF Lot.
c) Parcel 3 - The third folio consist of a surface parking lot that supplements the parking for retail and office, this lot is 6,750 SF
Total Portfolio consists of +/-13,713 of RSF and +/-27,810 SF of land.
Property is currently zoned T-6-8-O on the front lots facing Coral Way, which allow various commercial uses and T-3R for the back lot.
Property pro-forma and actual available upon request and proof of funds. Do not disturbe Tenants, showings accompanied by agent with prior 24hr notice.
NDA attached.
Taxes & Operating Expenses (Pro forma - 2023) Click Here to Access |
Annual |
|---|---|
| Gross Rental Income |
-
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
-
|
| Net Operating Income |
$99,999
|
Taxes & Operating Expenses (Pro forma - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
Property Facts
| Net Initial Yield | 5% | Individually For Sale | 0 |
| Sale Type | Investment or Owner User | Total Building Size | 12,757 SF |
| Status | Active | Total Land Area | 0.48 AC |
| Number of Properties | 2 |
| Net Initial Yield | 5% |
| Sale Type | Investment or Owner User |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 12,757 SF |
| Total Land Area | 0.48 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Dry Cleaners Unlimited
1820 SW 3rd Ave, Miami, FL 33129 |
Retail | 7,300 SF | 1952 | - |
| 1830 SW 3rd Ave, Miami, FL 33129 | Retail | 5,457 SF | 1947 | - |
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Coral Way Portfolio 1820-1830 SW 3rd Ave
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