575 NE 61st St

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575 NE 61st St

Miami, FL 33137
Asking Price
$2.20M
Asset Type
Office
Class
Class B

What's Special

575 NE 61st St is located in the Little River district of Miami, a neighborhood characterized by a mix of industrial warehouses and emerging creative studios. The property is situated near the Biscayne Boulevard corridor, providing access to local cafes, galleries, and retail spaces. It is positioned north of the MiMo Historic District and the Design District, offering connectivity to major transit routes. The location is approximately five miles from Downtown Miami and is accessible via I-95 and North Miami Avenue. The asset is suited for professional services, creative agencies, or administrative headquarters seeking a workplace outside the traditional urban core. The floor plate supports open-plan configurations or partitioned offices, catering to boutique firms in the tech, architecture, or media sectors. Given the neighborhood's evolving landscape, the property is appropriate for tenants requiring functional workspace with proximity to Miami’s primary commercial hubs and residential areas like Morningside and Belle Meade.

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NOI
$80,000
Cap Rate
3.64%
DSCR
0.61
Underwater
Cash-on-Cash
-7.67%
Monthly Payment
$10,884.4
Annual Cash Flow
$-50,612.796

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