About
About 7700 N Miami Ave
Cushman & Wakefield is pleased to present 7700 North Miami Avenue, a 31-unit multifamily assemblage on 1.26 acres in Miami's Little River corridor, offered at $7,500,000. The portfolio spans five contiguous parcels and includes 17 studios, 13 one-bedrooms, 1 two-bedroom, a single-family home, and a vacant lot. Units feature updated finishes and the property is currently 90% occupied.
The property generates pro forma net operating income of approximately $360,000, reflecting a 5.14% going-in cap rate. Market rents average $1,490/unit ($3.35/SF), with projected 3% annual rent growth driving NOI to roughly $411,000 by Year 5 and a 5-year average cash-on-cash return of 3.80%.
Zoned T5-R (Residential Urban), the 1.26-acre site presents significant redevelopment potential through upzoning into a mid-rise mixed-use project. Its location near Biscayne Boulevard and I-95 positions the asset as both a stable cash-flowing investment today and a compelling development play for the future.
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