575 Northeast 61st Street

Miami, FL 33137

Listing ID: 214632
$1,495,000
For Sale
  • Property Type Multifamily
  • Lot Size Acres 0.110
  • Building Sq Ft 2,786
  • Building Price per Sq Ft $536.61
  • Land Sq Ft 4,800
  • Land Price per Sq Ft $311.46
Description

Fausto Commercial is pleased to present ZenMotel, a multifamily property located in Miami, Florida. The property is an eight-room Hotel located at 575 NE 61st Street. The hotel is furnished with Balinese furniture, rain showers, ceiling fans and kitchenettes. Every room comes equipped with a Buddha, yoga mat and robe. The whole building was renovated in 2016.

The property is at a walking distance of the Magic City Innovation District located in Little Haiti. The 15 acre development will attract technology companies and retailers. The $1 billion project will be developed in multiple phases over several years with the beginning focused on repurposing existing dilapidated factory space. It will be 170,000 SF of industrial space would be converted to commercial and retail use, with plans for an office tower, amphitheater and apartments. 

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 Population27,621278,177785,044
Population Median Age403839
Population by Age0-9 Yrs3150 (11%)31474 (11%)86552 (11%)
10-19 Yrs2593 (9%)27808 (9%)73731 (9%)
20-29 Yrs3445 (12%)40729 (14%)107608 (13%)
30-39 Yrs5059 (18%)57094 (20%)142764 (18%)
40-49 Yrs4527 (16%)40487 (14%)112395 (14%)
50-59 Yrs3196 (11%)36251 (13%)105648 (13%)
60-69 Yrs2675 (9%)23866 (8%)81014 (10%)
70+ Yrs2975 (10%)20468 (7%)75332 (9%)
Median HH Income$43,208$55,214$51,518
Total Household Income< 24K3560 (31%)27561 (24%)87012 (27%)
25-49K2823 (24%)23487 (20%)69274 (21%)
50-74K1863 (16%)18918 (16%)51362 (16%)
75-99K993 (8%)14137 (12%)33125 (10%)
100-199K1402 (12%)17994 (16%)49214 (15%)
200K+806 (7%)10311 (9%)30036 (9%)
Highest Education LevelNo Diploma37252836696872
Diploma or GED486043599137101
Some College31333123580850
Assoc. Degree19791931047362
Bachelors Degree473546859121452
Higher Degree19873401299211
Total Housing Units13,191138,786436,448
--Owner-Occupied3,91538,578112,581
--Renter-Occupied7,53373,829207,443
Owner-Occupied Values< 100K11733258792
100-199K458502917124
200-299K822795923790
300-399K409429313834
400-499K357413010717
500K+17531384238324
Total Working Age Population22,848229,447653,485
In Work Force14,917158,648428,222
Not In Work Force7,93170,799225,263
Workforce Employed13,876148,830404,048
Workforce Unemployed1,0419,81623,628
Civlian Workforce14,917158,645427,677
Military Workforce02545
Total Households11,448112,407320,023
Family Households5,55558,730168,037
Non-Family Households5,89453,677151,986
Married Couple3,26535,616105,659
Other Family2,29023,11462,378
Married w/Child1,13913,52237,136
Single Male w/Child392,0186,636
Single Female w/Child9029,60122,407

Population Change Last Two Decades - Plus Projection

2000%2010%2020%2030
Florida15,982,378+1818,801,310+1421,517,610+1324,340,457
Miami-Dade County2,253,362+112,496,435+152,861,579+113,190,242
Monroe County79,589-873,090+174,004074,301

No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

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.

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