Updated almost 8 years ago on .
New Off-Market Commercial Rental, Miami 11 Cap,Will Sell Fast!!
Contact for details. This will not last long. 305-900-7391
Price: $660,000 CASH or Hard Money ONLY
Est. Rehab: $0
Cap Rate Potential: 11% (after upstairs is rented $6300)
Est Rent potential: $6300/month
Current Cap: 9%
Current Rent $5100/month (has yearly rent increase of 4%)
Layout: (2520 sqft, 10,500 sqft lot )
Off Market commercial property with hands-free income producing tenant in place. Currently Rented by an Auto Dealer. Property is a totally renovated 2-story 2,520 sqft CBS building on a securely gated 10,500 sqft lot.
Current tenant is an auto dealer paying $5100/mo, with 4% annual rent increases, giving a passive, maintenance free 9% cap rate in place. Owner is responsible for taxes and insurance. Tenant pays all utilities and maintenance on property.
2nd floor of building is vacant office space and can be rented out for additional income. It is renovated with new kitchen and new central AC. Has two separate meters. One for upstairs and one for downstairs.
This property is located on a hard corner directly on NW 7th Ave, a few blocks south of the newly approved Chinatown. An absolute must buy!