Little Havana Mixed Use Retail & Office | 12th Ave Corridor
Favorable Seller Financing | Below-market rents (~$14/SF) | All Month to Month Leases
Marketing description
Marcus & Millichap is pleased to present 237 NW 12th Avenue, a two-story retail strip center located in the heart of Miami’s Little Havana submarket. This ±8,000 square foot property is comprised of 10 small bay units, each approximately 800 square feet in size, offering flexible configurations ideal for local service and retail tenants.
Currently, all tenants are on month-to-month leases and paying significantly below-market rents, averaging just $14 per square foot. This presents a compelling value-add opportunity for an investor to reposition the tenancy and increase rental income to market levels.
The property recently received its 40-Year Re-Certification in 2025, eliminating any near-term capital concerns related to structural or electrical compliance. Additionally, the seller is offering attractive financing terms, providing further flexibility for prospective buyers.
Strategically positioned on NW 12th Avenue between West Flagler Street and NW 7th Street, the property is surrounded by numerous mixed-use and multifamily developments, underscoring the area's continued growth and revitalization. This corridor serves as a vital connector between Little Havana, the Health District, and Downtown Miami, benefiting from strong visibility and daily traffic.
Investment highlights
Value-Add Opportunity - All tenants are on month-to-month leases and paying below-market rents (~$14/SF), providing a clear path to increase income by adjusting rents to reflect current market rates. Seller Financing
Attractive Seller Financing - Ownership is offering favorable seller financing options, reducing the barrier to entry and enhancing potential returns.
Elevator-Equipped & Recent 40-Year Re-Certification - Elevator-equipped and fully ADA compliant, the building completed its 40-Year Re-Certification in 2025, minimizing capital expenditure risk and ensuring long-term accessibility.
True Small Bay - Efficient, Flexible Layout - The ±8,000 SF building is divided into 10 small bays (±800 SF each), ideal for local businesses and easy to lease or re-tenant.
High-Growth Corridor - Located between West Flagler Street and NW 7th Street—two corridors undergoing significant redevelopment with new multifamily and mixed-use projects.
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