Listed by Synergy Realty Advisors LLC, Coldwell Banker Realty Pinecrest, Synergy Realty Advisors
$5,700,000
0.47 ACRE DEVELOPMENT SITE ON DOUGLAS ROAD
Details
APN 01-4117-001-0370, 01-4117-001-0380, 01-4117-001-0390
Property Type Office, Retail
Sub Type Traditional Office, Medical Office
Cap Rate 2.58%
NOI $147,128
Occupancy 100%
Price per SqFt $277
Class C
Lot Size (SqFt) 20,581
Zoning T6-8-O-URBAN CORE ZONE
0.47 ACRE DEVELOPMENT SITE ON DOUGLAS ROAD
Marketing description
Freestanding Medical Office building on Douglas Road, right at the edge of Coral Gables. Fenced corner property with electric gate. Beautifully landscaped property with a brand new roof. Currently a medical office with many small patient rooms and a some large offices. Property is currently vacant. 9 gated parking spaces and some street parking next to property. Blocks away from Coral Gables hospital. Second floor in great shape with 6 offices and wood floors. Approved for SBA renovation loan. Perfect candidate for a doctor looking to purchase and build out their office with only 10% down. Two electric meters.
Investment highlights
- One block assemblage on Douglas Road
- Directly across from the soon-to-be-renovated Douglas Park
- 20,581 SF of T 6 8 0 zoned land
- Located at the edge of Coral Gables
- Three fully rented mixed-use buildings generating $18,000 monthly income
- 70 units feasible with live local
- Approximately half a mile from the metrorail
- T 6 8 0 zoning allows apartments, storage, retail, office uses
- Suitable for medical development, with Coral Gables Hospital two blocks away
- Feasible square footage is 120k with live local
Listing Contacts
Listed by Synergy Realty Advisors LLC, Coldwell Banker Realty Pinecrest, Synergy Realty Advisors
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$147,128.00
$12,260.67/mo
Valuation Metrics
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DSCR
2.58%
Cap Rate
2.58%
ROI
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