NOT LISTED FOR SALE

7040 SW 61st Ave South Miami, FL 33143

Estimated Value: $9,084,953

0.72 Acre
$12,617,990 Price per Acre
31,363 Sq Ft Lot

Last Sold July 17, 2020

Last sale price $5,150,000 $942 Per Sq Ft

Est. 76% increase in value since last sale

Current estimated payment $54,565/month

106 Days on Market

About This Lot

As of July 2020

ESTATE SALE! 35,292 SqFt Lot on Miami's most desired OPPORTUNITY ZONE!!! Prime South Miami Location with access from 2 Streets (61st Ave. and 61st Ct). Sale includes adjacent vacant land (7109 SW 61st Ct). CURRENT ZONING - TODD MU5 ALLOWING MAXIMUN 7 STORY 185,000 WITH BONUSES. MIX USE ENCOURAGED.

Last Agent to Sell the Property

Ale Alfonzo

Serhant License #3248358 Listed on: 03/09/2020

Serhant

Last Buyer's Agent

Joseph Khalil

Avanti Way Realty LLC License #3419336

Avanti Way Realty LLC

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $45,184

Lot Details

  • 0.72 Acre Lot
  • Lot Dimensions are 150x214
  • Property is zoned 6801

Utilities

  • Phone Connected
  • Cable TV Available

Additional Features

  • 5,469 Sq Ft Home
  • City Lot

Community Details

  • No Home Owners Association
  • Rosswood Condos
  • Rosswood Subdivision

Listing and Financial Details

  • Assessor Parcel Number 09-40-25-011-0130

Property Details

Property Type

Land

Est. Annual Taxes

$45,184

Lot Details

0

Listing Details

  • Property Type: Commercial Land
  • Directions: FROM US1 GOING SOUTH TURN RIGHT INTO SW 72ND STREET / SUNSET DR AND RIGHT ONTO 61ST AVE.
  • Horses: No
  • Inclusions: None
  • Lot Size Acres: 0.72
  • Lot Size: 150x214
  • New Construction: No
  • Road Frontage Type: Public Road
  • Road Surface Type: Paved
  • Subdivision Name: ROSSWOOD
  • Special Features: None
  • Property Sub Type: LotsLands

Interior Features

  • Living Area: 5469
  • Possible Use: Unknown/Withheld, Professional, Urban Commercial

Exterior Features

  • View: None
  • Lot Features: Central Business District, City Location, Other Location, Less Than 1 Acre
  • Pool Private: No
  • View: No
  • Waterfront: No

Garage/Parking

  • Park Building Name: ROSSWOOD

Utilities

  • Sewer: Public Sanitation
  • Water Source: Municipal Water
  • Utilities: Electricity Connected, Phone Connected, Sewer Connected, Water Connected, Cable Available, Electricity Available, Phone Available, Sewer Available, Trash Removal, Water Available

Condo/Co-op/Association

  • Association: No

Lot Info

  • Parcel Number: 09-40-25-011-0130
  • Current Use: Other Usage, Other Style
  • Lot Size Sq Ft: 31380
  • Zoning: 6801
  • ResoLotSizeUnits: SquareFeet

Tax Info

  • Tax Year: 2019
  • Tax Annual Amount: 45184

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Dec 16, 2021
Sold by
Y And Ys Miami Llc
Bought by
7040 Sunset Asset Llc
Current Estimated Value
$9,084,953

Purchase Details

Listed on
Mar 9, 2020
Closed on
Jul 17, 2020
Sold by
Manaster Joshua D and Land Trust
Bought by
Y And Y S Miami Llc
Seller's Agent
Ale Alfonzo
Serhant
Buyer's Agent
Joseph Khalil
Avanti Way Realty LLC
List Price
$8,000,000
Sold Price
$5,150,000
Premium/Discount to List
-$2,850,000
-35.62%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
11.24%
Original Mortgage
$2,468,813
Interest Rate
3.1%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 30, 2017
Sold by
Rosenbaum Calmon
Bought by
Rosenbaum Calmon B
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
7040 Sunset Asset Llc $7,800,000 Yelen Yelen & Simon Pa
Y And Y S Miami Llc $5,150,000 Attorney
Rosenbaum Calmon B -- Attorney
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Y And Y S Miami Llc $2,468,813
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/17/2020 07/17/20 Sold $5,150,000 -35.6% $942 / Sq Ft
06/23/2020 06/23/20 Pending -- -- --
03/09/2020 03/09/20 For Sale $8,000,000 -- $1,463 / Sq Ft
Source: MIAMI REALTORS® MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $81,328 $4,659,930 -- --
2024 $90,954 $4,707,000 $4,707,000 --
2023 $90,954 $4,717,000 $4,707,000 $10,000
2022 $91,138 $4,717,000 $4,707,000 $10,000
2021 $44,964 $2,206,600 $2,196,600 $10,000
2020 $45,077 $2,206,600 $2,196,600 $10,000
2019 $45,184 $2,206,600 $2,196,600 $10,000
2018 $44,211 $2,206,600 $2,196,600 $10,000
2017 $43,872 $2,206,600 $0 $0
2016 $43,356 $2,101,649 $0 $0
2015 $41,667 $1,910,590 $0 $0
2014 $40,376 $1,736,900 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Ale Alfonzo

    Seller's Agent in 2020

    Ale Alfonzo

    Serhant

    (305) 904-0410

    36 Total Sales

    Ale Alfonzo
    Section Image
  • Joseph Khalil

    Buyer's Agent in 2020

    Joseph Khalil

    Avanti Way Realty LLC

    (305) 321-6967

    1 in this area

    28 Total Sales

    Joseph Khalil
    Section Image
  • Jerry Stapel

    Buyer Co-Listing Agent in 2020

    Jerry Stapel

    Avanti Way Commercial

    (305) 216-4636

    18 Total Sales

    Jerry Stapel
    Section Image
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Map

Source: MIAMI REALTORS® MLS

MLS Number: A10880656

MIAMI REALTORS® MLS

APN: 09-4025-011-0130

Florida Miami/Dade County South Miami 33143

7040 SW 61st Ave, South Miami, FL

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