11045 Northwest 7th Avenue

Miami, FL 33168

Listing ID: 187612

$2,190,000

For Sale

Lot Size Acres 0.669
Building Sq Ft 4,000
Building Price per Sq Ft $547.50
Land Sq Ft 29,119
Land Price per Sq Ft $75.21
NOI $1,173,410
CAP Rate % 5.40

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Description

APEX Capital Realty is proud to present a unique assemblage opportunity featuring two retail tenants with food & beverage / convenience concepts at a hard corner at the intersection of NW 7th Avenue and NW 111th Street, between the Pinewood/Miami Shores neighborhoods of urban core Miami.
Property Summary
Total Assemblage Size: 29,120 Land SF (0.67 acres)
11045 NW 7 Ave: 19,370 Land SF
660 NW 111th St: 9,750 Land SF
Total Building Area: 4,004 SF (across 2 freestanding buildings)
Lease Types: NNN
NOI: $117,341
Zoning: UC-MC (UC-Center Mixed-Use Corridor)
Max. Height: 6 stories
Density: 36 units per acre (24 units on this site)
Dimensions: 130? x 223? approx.
COMBINED ASKING PRICE: $2,190,000 (5.4% CAP)
Property Highlights
Income-producing w/ 2 different tenants; the two property owners have come together to present the properties as an assemblage for the first time
The approximately 3,222 SF fully-operating corner retail building is a 2nd generation kitchen w/ updated grease traps. Occupied by local “Jimmy’s Diner” restaurant tenant, the lease is NNN & carries a double-backed personal guarantee.
On the adjacent parcel sits an innovative drive-thru micro-convenience store concept which is currently owner-operated. Upon a sale, the owner will commit to a sale-leaseback agreement w/ terms flexible to the Buyer.
The surrounding area of this mixed-use high-traffic corridor is populated by both local and national tenants alike who enjoy the 37,000+ daily vehicles per day, not including the exposure from passersby on I-95, which runs just parallel to NW 7th Ave

Attachments & Files

11045-nw-7th-avenue-4QA-3TR.pdf

Listing Demographics

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

		1-Mile	3-Miles	5-Miles
Total Population		27,416	203,404	488,034
Population Median Age		37	37	38
Population by Age	0-9 Yrs	3532 (12%)	27758 (13%)	61898 (12%)
	10-19 Yrs	3753 (13%)	25407 (12%)	58459 (11%)
	20-29 Yrs	4478 (16%)	30130 (14%)	71727 (14%)
	30-39 Yrs	4077 (14%)	28183 (13%)	67422 (13%)
	40-49 Yrs	3296 (12%)	25330 (12%)	64704 (13%)
	50-59 Yrs	3333 (12%)	27695 (13%)	65947 (13%)
	60-69 Yrs	2567 (9%)	21183 (10%)	49415 (10%)
	70+ Yrs	2379 (8%)	17719 (8%)	48463 (9%)

Median HH Income		$38,867	$35,986	$36,767
Total Household Income	< 24K	2185 (31%)	22554 (36%)	53357 (35%)
	25-49K	2002 (28%)	17104 (27%)	40392 (27%)
	50-74K	1329 (19%)	9673 (15%)	24389 (16%)
	75-99K	634 (9%)	5200 (8%)	12765 (8%)
	100-199K	639 (9%)	5853 (9%)	14441 (9%)
	200K+	126 (1%)	1461 (2%)	4103 (2%)

Highest Education Level	No Diploma	4363	33533	82859
	Diploma or GED	6317	44325	108424
	Some College	2928	21987	53649
	Assoc. Degree	1766	11458	27510
	Bachelors Degree	1786	16305	41045
	Higher Degree	575	7920	19944

Total Housing Units		7,542	68,907	168,069
--Owner-Occupied		3,458	27,218	66,193
--Renter-Occupied		3,458	34,627	83,253
Owner-Occupied Values	< 100K	503	4953	10771
	100-199K	1495	9439	23234
	200-299K	773	5902	16864
	300-399K	287	2930	6342
	400-499K	234	1330	2489
	500K+	166	2664	6493

Total Working Age Population		21,883	160,499	391,239
In Work Force		13,412	98,888	237,670
Not In Work Force		8,472	61,611	153,568
Workforce Employed		11,902	88,330	214,207
Workforce Unemployed		1,502	10,518	23,378
Civlian Workforce		13,404	98,848	237,585
Military Workforce		8	40	85

Total Households		6,915	61,846	149,447
Family Households		5,165	40,741	97,586
Non-Family Households		1,750	21,104	51,861
Married Couple		2,553	19,888	49,492
Other Family		2,612	20,853	48,094
Married w/Child		926	7,919	19,103
Single Male w/Child		345	2,100	4,333
Single Female w/Child		771	7,369	16,812

Population Change Last Two Decades - Plus Projection

	2000	%	2010	%	2020	%	2030
Florida	15,982,378	+18	18,801,310	+14	21,517,610	+13	24,340,457
Miami-Dade County	2,253,362	+11	2,496,435	+15	2,861,579	+11	3,190,242

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While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.