Miami, FL
Type
Retail
Strategy
Value-Add
Market
Miami-Dade
Status
Active
10 NE 3rd Street is a multi-tenant commercial retail property located in Miami, Florida — marking RG Capital Partners' continued expansion into the South Florida market. The property was acquired as a value-add opportunity with significant upside through operational improvements and strategic capital investment.
The business plan centers on repositioning the property through a combination of lease restructuring, capital improvements, and occupancy stabilization:
Converting existing tenants to triple-net (NNN) lease structures to shift operating expenses — including taxes, insurance, and maintenance — to tenants. This significantly reduces landlord exposure and improves net operating income.
Planned CapEx program including a new roof, parking lot resurfacing, and exterior improvements to enhance curb appeal and extend the useful life of the asset.
Completing the building's 30-year recertification process — a mandatory structural and electrical inspection required by Miami-Dade County. Passing recertification ensures compliance and eliminates a key risk factor for lenders and future buyers.
Actively marketing and leasing vacant units to stabilize occupancy. Targeting quality tenants on NNN terms to maximize income and build long-term value in the property.
Located in the Florida City sub-market of Miami, the property sits squarely in the path of progress. Florida City is experiencing significant development of new residential and commercial properties, driven by population growth and expanding infrastructure. This wave of development offers strong long-term appreciation potential as the surrounding area continues to densify and attract new businesses and residents to the corridor.