2060 NW 22nd Avenue, Miami FL 33142
Fausto Commercial is pleased to present for sale 2060 Plaza, a shopping center located at 2060 NW 22nd Avenue, Miami FL 33142. The property consists of 12 units servicing the local community, totaling 13,400 Rentable Square Feet and fully rented. The property is strategically located on NW 22nd Avenue that allows for visibility from NW 20th Street with 28,000 passing vehicles per day. Furthermore, the subject has the availability of 30+ parking spaces.
Currently rents average $15 per Square Foot Gross. The subject property’s retail rents are 20 percent below the market, minimizing the downside risk for an investor to reposition. Through repositioning current leases, an investor will increase cash flow on the property significantly maximizing the yield. The subject property is positioned strategically, and Allappattah is one of Miami’s most stable markets, demographically and economically, with a strong local working-middle class base that continues to grow every year. This site is on NW 22nd Avenue, one of the most important and densely populated corridors.