1319 NW 60th St, Miami, FL 33142

SUPERIOR LOCATION & AMENITIES

The asset is 0.7 miles from US Route 441 and SR 944, the area’s primary commercial and commuter corridors and is 1 mile from Interstate 95 and 1.75 miles from Interstate 195, and 2.5 miles from Biscayne Bay. The densely populated neighborhood consists primarily of multi-family buildings, condominiums and single-family homes of similar age and construction as the Property. The location offers ease of access to area schools, major retailers, employment hubs, shopping, public transportation (several bus routes and the Miami Airport Tri-Rail & Metrorail Stations), and major roads including Interstate I-95, I-195, US-1, A1A, SR 9, SR-934, SR 944, and SR-9.

Residents of the Property enjoy close proximity to The North Shore Medical Center which is a major employer in the area with 357 beds and 700 employees. Moreover, the subject property is within walking distance from the First and largest mixed income project in Miami-Dade called New Liberty Square Apartments. The $300 million project incorporates public, affordable, workforce and market-rate units. This 1,455-unit project will include a Publix supermarket and retail stores.

VALUE ADD POTENTIAL

The newer leases are at market levels. The opportunity exists to increase rent on lease renewals, increase occupancy, and use government subsidy programs such as Section 8.

MAJOR EMPLOYMENT AREA

Residents benefit from access to public transportation, the Miami Airport Tri-County Commuter Rail, Miami Airport Metrorail Station, and Miami International Airport. The Property is close to retailers, colleges and major employees like the City of Miami, Miami International Airport, Miami University, Florida International University, American Airlines (9,000 jobs), Precision Response Corporation (5,000 jobs), Costa Farms (5,000 jobs), Royal Caribbean (4,000 jobs), Office Depot (3,800 jobs), and Wackenhut Corp (3,000 jobs) and the Loan Depot Stadium, home of the MLB’s Miami Marlins. In addition, there are various industrial clusters surrounding the Miami International Airport and overall, there are more than 10,000+ jobs within a 3-mile radius. The Property is also just 6-miles from Miami’s Central Business District (Downtown Miami).

STRONG RENTAL MARKET

The Property is situated within a strong rental market with excellent proximity to Downtown Miami, Hialeah, Aventura, Miami Beach, Hollywood, and numerous prominent area employers and attractions creating high demand and low vacancies.

WORKFORCE

One of Miami-Dade’s strongest assets is its unique multilingual, multicultural workforce, which provides a strong foundation for companies doing business in the Caribbean, Central America, South America, Europe, Asia, the Middle East and other global business centers. The metropolitan region’s labor market is equally diverse, ranging from financial services and technology to wholesale and trade, agriculture and even mining. Thanks to its broadly based, internationally oriented economy, Miami-Dade has a large pool of skilled and unskilled workers in almost every industry segment.

DEMOGRAPHICS

Over 31,900 people live within 1 mile of the Property and an impressive 243,400+ people live within 3-miles of the Property with an average household income of $82,654. Additionally, there are over 116,000 employees within 3 miles of the Property.

MIAMI DADE MSA AMENITIES

Miami-Dade is one of the state’s – and the world’s – most popular vacation spots. The trendy nightlife of South Beach and the excitement of the Art Deco District. The bustle of Calle Ocho and the highly caffeinated energy of Little Havana. The plush hotels of Miami Beach and the historic hideaways of Coral Gables. Seemingly endless shopping opportunities in modern, sprawling malls and the quiet, personal attention offered by the family-owned shops of Coconut Grove and many other corners of the region. The lures of deep-sea fishing and golf and tennis, major league football, basketball, hockey and baseball, boat shows and auto racing, art festivals, outdoor food, and wine extravaganzas, an international airport and the world’s busiest cruise port – the Miami area offers all of this – and so much more.

Miami-Dade’s beaches, boating and fishing offer opportunities for year-round recreational pursuits. There are miles of popular beaches along the Atlantic Ocean and Biscayne Bay, from Sunny Isles Beach through Key Biscayne and south to Homestead’s Bayfront Park. Just offshore is Biscayne National Park, and to the west is Everglades National Park, making Miami-Dade one of the only communities in the U.S. to have two of these national treasures. Golf and tennis are among the many other outdoor recreational activities that Miami-Dade residents enjoy year-round. The region also has an extensive network of parks and other recreational facilities, as well as an extensive network of bicycle lanes that run throughout Miami-Dade County.