This retail property sits on a 0.1607-acre (7,000 SF) lot with a building area of 1,845 SF and three retail stores. Current rents are $2,300, $2,200, and $900. Two tenants have 1-year leases, and the third is month-to-month. Located in a T6-12-O zoning area, allowing 150 apartment units per acre, the lot could support around 24 units. Under the Live Local Act (SB 102), which allows a 40% density increase, approximately 34 units may be possible.*Buyers should conduct their own due diligence regarding development feasibility.* Adjacent lots may also be available for purchase, providing more potential. The property has 55 feet of frontage and a depth of 136 feet.
727 W Flagler St, Miami, FL, 33130
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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