Divisible Retail
For Sale
$1,159,999
2151 SW 8th St, Miami, FL 33135
Commercial Sale, Miami, FL
Property Size3,000 SF
Lot Size0.07 Acres
Price / SF$386.67
Days on Market70
Property Features for 2151 SW 8th St
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
6100
Security features
Security System
Subdivision
41
Standard status
Active
APN
01-41-03-020-0030
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BRYANDALE PB 9-86 LOT 7 BLK 1 & S1/2 OF ALLEY LYG N & ADJ CLOSED PER ORD 13492 LOT SIZE 3000 SQ FT M/L
Tax Annual Amount
10414
Legal Description
BRYANDALE PB 9-86 LOT 7 BLK 1 & S1/2 OF ALLEY LYG N & ADJ CLOSED PER ORD 13492 LOT SIZE 3000 SQ FT M/L
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
private offices
individual restrooms
Building Details
Year built
1947
Floors in Building
1
Listing Agency:
Douglas Elliman
(305) 695-6060
Listed By:
Miguel Solis · License #0624178
(305) 343-9554
Added: Jun 26
Changed: Sep 2
Last Checked: Sep 3 at 9:06PM
MLS# A11953243
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This approximately 3,000-square-foot storefront property was built in 1947 and is zoned for retail use. The interior includes two private offices and three individual restrooms, with central air conditioning, electric heat, and public water service. The property is currently occupied under a month-to-month lease and is being used for religious purposes.
The space can be configured as two separate units, each with its own entrance and FPL meter. Each unit is approximately 1,400 square feet, providing flexibility for continued occupancy, an owner-user arrangement, or separate unit operations. The property fronts SW 8th Street in Miami’s Calle Ocho commercial district, with access to Coral Gables, Coconut Grove, and the Brickell/Downtown corridor.
The space can be configured as two separate units, each with its own entrance and FPL meter. Each unit is approximately 1,400 square feet, providing flexibility for continued occupancy, an owner-user arrangement, or separate unit operations. The property fronts SW 8th Street in Miami’s Calle Ocho commercial district, with access to Coral Gables, Coconut Grove, and the Brickell/Downtown corridor.
Key Highlights
- Approximately 3,000 square feet of retail space on SW 8th Street
- Retail zoning with current month‑to‑month occupancy
- Can be divided into two units of about 1,400 square feet each
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$97,877
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,957,540
$2.0M
Cap Rate 7%
$1,398,243
$1.4M
Cap Rate 9%
$1,087,522
$1.1M
Market Conditions
NOI Build-Up for 3,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$155.9K $51.96/SF
− Vacancy
−$16.1K −$5.35/SF
EGI
$139.8K $46.61/SF
− OpEx
−$41.9K −$13.98/SF
NOI
$97.9K $32.63/SF
Area
Miami, FL
Vacancy
10.30%
Lease Rate
$51.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,957,540
Cap Rate 7%
$1,398,243
Cap Rate 9%
$1,087,522
Alternative Uses
Best Use
Retail
$1.40M
$1.22M – $1.63M
NOI $97,877 @ 7.0% cap · market cap 8.44%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.03M
$1.77M – $2.36M
NOI $141,751 @ 7.0% cap · market cap 12.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,552
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
Median Home Value
Market
Vacancy Rate% for Retail in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Retail-zoned commercial space with flexible occupancy and a month-to-month existing lease.
Where is this storefront property located?
The property is located at 2151 SW 8th St Miami, FL.
What is the asking price?
The asking price for this property is $1,159,999.
What are key features of this property?
This property features: Approximately 3,000 square feet of retail space on SW 8th Street; Retail zoning with current month‑to‑month occupancy; Can be divided into two units of about 1,400 square feet each
