3707 SW 1st St

01-14-2022
01-14-2022

3707 SW 1st St, Coral Gables, FL 33134

  • Stabilized Asset with upside Potential
  • Hard Corner Commercial Unit
  • Commercial Unit Renovation $150,000 in Cap Expenditure
  • 2-building, 2-story multifamily
  • 8-parking spaces off-street
  • Residential Renovations $85,000 To-Date in Repairs

Property Description

Unique Mixed-Use! Zoning T6-8-O allows for up to eight (8) stories, an opportunity for redevelopment. This two-building multifamily gem is located off the high traffic intersection of West Flagler and Douglas Rd at SW 1st Street. Nestled at the edge of Coral Gables, the two-story properties, 5,940 square foot lot, offer a hard corner commercial unit, with great visibility and off-street parking for guests and tenants. Directly across from Publix and next to Chase Bank. Stabilized Asset with upside potential.
The corner building commercial unit has $150,000 recently invested in capital expenditure improvements. Downstairs unit, formerly a medical facility, a new tenant has already been placed and secured with a 5-year lease, set for the business to open in Jan 2022. Upstairs has a separate indoor staircase entrance complete with updated office space, kitchen, full bathroom, and storage closet.
The second building is a residential stacked-duplex with fully remodeled interiors with $85,000 to date in improvements. The residential tenants are on annual leases with low rents. The Commercial Lease is 5 years with increases bringing in a total 5-yr income of $283,868. Property has 8-paved parking spaces behind the buildings. Separate electric units connect to each building. The residential building has A/C wall units. The entire property utilizes a single water meter.

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Mixed-Use
Year Built
1926
Lot Size
5,940 Sq ft
No. of Stories
2
APN
01-4105-037-0600
Opportunity Zone
Off
Price per unit
$ 0
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