The current NOI is $53,548 with a 7.65% CAP rate. Build 6 additional units, which will increase the total revenue to $206,500 and the NOI to $185,400, at a total cost of $1,901,500, resulting in a cap rate of 9.75%. Alternatively, you could purchase the property and convert the entire project into 11 units. Discover the potential of this rare 1.25-acre parcel, zoned RM (Multi-Family, Medium Density) and located in an unincorporated area. The site may accommodate up to 11 residential units—a prime opportunity for developers or investors seeking a strong growth prospect. Enjoy a strategic location just minutes from I-95, the Florida Turnpike, and a variety of shopping, dining, schools, and employment hubs..
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Last Updated: . Source: BMLS
Provided By
Listing Agent: John A Diaz (#20001010)
Listing Office: KW Reserve Business Brokerage LLC (#276670741)
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