The property is positioned to capitalize on Downtown’s rapid revitalization. It is adjacent to the Historic Post Office, half a block south of 1400 units under construction, and half a block north of the Diamond District. The property is composed of three floors + a basement, totaling ca. 18,500 square feet. All floors have already been gutted. Permits will soon be approved to renovate the facade, install a grease trap, and whitebox the ground floor and basement. Once completed, a retail tenant will be sought.
Alternatively, the property is zoned T6O-80. Density allows for 110 units. No parking is required at all due to the property’s proximity to the Metro Mover.
The seller will consider owner financing, a joint venture, or any other creative proposals that can benefit both parties.
128 NE 1st Ave, Miami, FL, 33132
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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