2 7 6 5 N W 1 7 T H T E R R A C E | M I A M I , F L 3 3 1 ......and its Walk of Fame (for famous...

2765 NW 17TH TERRACE | MIAMI, FL 33125

2 7 6 5 N W 1 7 T H T E R R A C E | M I A M I , F L 3 3 1 2 5 | L I T T L E H A V A N A

ADDRESS

CITY STATE ZIP

OFFERING PRICE

PROPERTY TYPE

APN

BUILDING SF

LOT SIZE

YEAR BUILT

ZONING

▪ Retail/Office Frontage, Heavy Traffic, Private Parking

▪ Seller Financing Available

▪ Great opportunity to own cash flow investment

▪ Fully Leased 6 unit building + parking lot

▪ 4 x 1/1 units + 2 x 3/2 units + parking lot (leased)

▪ Next to Miami River

▪ Also an excellent VALUE-ADD OR REDEVELOPMENT

opportunity!



100 LEVEL FLOORPLAN 200 LEVEL FLOORPLAN

400 – 700 LEVEL FLOORPLANS 800 LEVEL FLOORPLAN

P R O J E C T E D S C H E M E : 4 5 U N I T S | 6 6 C A R S


2 7 6 5 N W 1 7 T H T E R R A C E | M I A M I , F L 3 3 1 2 5

PRICING OWNER FINANCING THE ASSET

Price $1,300,000 Down 30% $390,000 Units 6

Price/Unit $216,667 Loan 70% $910,000 Year Built 1930

Price/SF $325.57 Ammort Years 20 Gross SF 3,993

GRM 13.80 9.10 Interest Rate 3.75% Lot SF 13,068

Cap 5.76% 8.00% Payments ($5,395) APN 01-3133-008-0340

Current Market

MONTHLY RENT SCHEDULE

# of Units Type Estimated SF Avg.Current Rent/SF Current Total Market Rent/SF Market Total

1 3/2 $1,500 #DIV/0! $1,500 $2,400 #DIV/0! $2,400

1 3/2 $1,300 #DIV/0! $1,300 $2,400 #DIV/0! $2,400

1 1/1 $700 #DIV/0! $700 $1,400 #DIV/0! $1,400

1 1/1 $950 #DIV/0! $950 $1,400 #DIV/0! $1,400

1 1/1 $950 #DIV/0! $950 $1,400 #DIV/0! $1,400

1 1/1 $950 #DIV/0! $950 $1,400 #DIV/0! $1,400

6 $6,350 $10,400

Rear Lot Income $1,500 $1,500

ANNUALIZED INCOME Current Market

Gross Potential Rent $94,200 $142,800

Less Vacancy 3% ($2,826) 3% ($4,284)

Scheduled Gross Income $91,374 $138,516

ANNUALIZED EXPENSES Current Market

Tax 1.900000% $7,920.67 $26,000.00

Waste $1,800 $1,800

FPL $3,150 $3,150

Ins $3,600 $3,600

Total Expenses $16,471 $34,550

Expenses/Unit $2,745 $5,758

Expenses/SF $4.12 $8.65

% of EGI 18.03% 24.94%

RETURN Current Market

NOI $74,903 $103,966

Negotiable

Negotiable


Elite River View Apartments

Miami RiverfrontResidences

Miami RiverviewApartments

TOP DOWNTOWN EMPLOYERSTHE SHOPS

Jest Islands

Little Havana is noted as a center of social, cultural, and political activity in Miami. Its festivals, including the Calle Ocho

Festival, Viernes Culturales/Cultural Fridays, the Three Kings Parade and others, have been televised to millions of people

every year on different continents. It is also known for its landmarks, including Calle Ocho (SW 8th Street/Tamiami Trail),

and its Walk of Fame (for famous artists and Latin personalities, including Celia Cruz, Willy Chirino, and Gloria Estefan),

the Cuban Memorial Boulevard, Plaza de la Cubanidad, Domino Park, the Tower Theater, José Martí Park, the

Firestone/Walgreens Building, St. John Bosco Catholic Church, Municipio de Santiago de Cuba and others.



▪ Padilla Cigar Factory

▪ Marlins Park (former site of the Orange Bowl)

▪ Calle Ocho Walk of Fame (SW 8th Street between SW 12th Avenue and SW 17th Avenue)

▪ Little Havana Food & Cultural Tour,

▪ Ball & Chain (1513 SW 8 Street) World Famous Live Music Bar & Lounge; originally opened in 1935

▪ Calle Ocho (SW 8th Street)

▪ Cuban Memorial Boulevard (SW 13th Avenue)

▪ Little Havana Visitors Center (1600 SW 10 Street)

▪ Centro Cultural Español de Cooperación Iberoamericana

▪ Versailles Restaurant SW 8 Street and 36 Avenue

97 WALK SCORE



DOWNTOWN TOP EMPLOYERS

LITT

LE H

AVAN

A T

OW

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OTE

LPLA

ZA C

ELIA

1000

NO

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WES

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Located at 1450 SW Seventh Street, the 52-room, three-story building is around the corner from the

club and about a three-minute walk to Domino Park on Calle Ocho. The project will focus on five

main features: accommodations, which can be anything from bunk beds and hammocks to high-end

rooms; a food and beverage concept in a space that also caters to events, including live music and

workshops; co-working spaces with full facilities, including conference rooms; tours of the local area,

often through partnerships with the community; and a wellness component, which can come in the

form of yoga classes or surfing lessons, for example.

Plaza Celia, a 16-unit boutique apartment building, broke ground recently in Little Havana. The

development’s name honors the late Cuban-born singer Celia Cruz, the Queen of Salsa and an

advocate for freedom and justice for the Cuban people. The lobby will showcase images of Cruz’s

life. The four-story project is being developed by Metronomic, Inc, and is rising at 2640 Southwest

12th Street. The developer says the Miami apartment complex will offer housing for students and

workforce apartments for local residents. Plaza Celia is a part of Metronomic’s unique crowdfunding

platform. Units range in size from 700 to 905 square feet, range from one to two bedrooms, and

feature amenities such as a rooftop terrace.

The nearly 292-square-foot development, to be called Reflections Apartments, will have 138 units,

less than 800 square feet of ground floor retail space, 7,700 square feet of open space, car and

bicycle parking. The review board approved waivers sought by J. Milton that reduced the number of

pedestrian entries, commercial loading zones and the length of the driveway aisle. The building is

being designed by architecture firm Axioma3.




Apartment rents in the Little Havana submarket increased by 0.6% year-over-year, and have posted an

average annual gain of 2.0% over the past three years. Vacancies are very close to the five year cycle

average of 2.9%, they currently registered at 3.0%, remaining stable over the past four quarters. There are

about 950 units currently underway, representing a 1% expansion of the existing inventory. Over the past

three years, 425 units have delivered, or a cumulative inventory expansion of 3.1%.

Sales activity was very strong over the past four quarters, registering at $116,700,000 , prolonging a multi-

year stretch of good investment. The average annual sales volume over the past five years has been $85

million. Over the past year, employment gains were essentially in line with the five year average: Total

employment increased by 2.4%, or about 28,700 jobs. Over the past five years, employment has increased

by 2.6% annually on average, compared to a 1.7% average increase nationally.

12 Mo. Delivered Units 12 Mo. Absorption Units

Vacancy Rate 12 Mo. Asking Rent Growth

ABSORPTION, NET DELIVERIES & VACANCY



Dubbed the “Worlds Most Famous Cuban Restaurant,” Versailles is a culinary landmark in Florida

that offers a complete immersion into the Cuban culture. You can’t go wrong with an order of

croquetas, ropa vieja, lechon asado or a Cuban sandwich. Start your morning off right with a

caffeine jolt with a cafe cubano or a cortadito con leche evaporada and side of morning

empanadas and guava pastries at their outdoor takeaway window.

Little Havana’s main strip, Calle Ocho is home to brightly painted roosters, local art galleries and the

Walk of Fame that honors famous Cubans. It’s here you’ll see the center of local life, where local

Cuban restaurants and bakeries will tempt you at every corner. Calle Ocho is also home to Cultural

Fridays with the best of Cuban arts, culture and music in addition to Miami’s largest street festival,

Carnival on Calle Ocho, an explosion of color with street performers and live Latin music.

An aesthetic beauty, Marlins Park looks like a space station on the outside and is a colorful

wonderland on the inside. A perfect place to take the entire family, this kid-friendly venue is unlike

any other baseball stadium in the country. It’s not only a great place to watch a game, but you can

also find a variety of enticing food options. From ballpark favorites at Obies to burgers and skewers

at Pincho and tacos at Butterfly, you’re spoiled with culinary choices.


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