Corner Lot Retail
For Sale
Contact for pricing
1008 Sw 8th St, Miami, FL 33130
Corner lot with 88 ft frontage on SW 8th Street and gated parking for customer or tenant use.
Property Size8,959 SF
Price / SF$664.14
Days on Market53
Property Features for 1008 Sw 8th St
General Information
Standard status
Active
Size
8,959 SF
Property subtype
RETAIL
Additional Details
Corner Location
Yes
Amenities
gated parking
Listing Agency:
Florida Commercial Real Estate Group at RE/MAX Consultants Realty I
(954) 681-3737
Listed By:
Candy Yeung · License #3332544
(954) 767-4667
Source:
Moodyscre
Added: Jul 23
Changed: Sep 9
Last Checked: Sep 13 at 9:34AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Florida Commercial Real Estate Group at RE/MAX Consultants Realty I
Investment Insights
Based on property information with market context.
This corner-lot retail building offers gated parking and an elevated setting, with the public remarks noting it has never flooded in 30 years of ownership. The property’s configuration and frontage are geared toward strong storefront presence and easy customer approach.
Located at 1008 SW 8th St, Miami, FL 33130, the asset features 88 ft of frontage on Calle Ocho (SW 8th Street). The public remarks describe high traffic and a busy tourist spot, with visibility from both foot and drive traffic.
Public remarks also indicate lenient and generous zoning, which the listing states could support a range of uses, including restaurant/bar/cafe, MedSpa and medical practices (such as dentistry, ophthalmology, and cosmetic surgery), florist, bank, daycare, specialty school, and dance studio, as well as indoor virtual reality activities (including golf simulation and escape rooms). The remarks cite population growth in Little Havana during the period from April 2020 to July 1, 2024.
Located at 1008 SW 8th St, Miami, FL 33130, the asset features 88 ft of frontage on Calle Ocho (SW 8th Street). The public remarks describe high traffic and a busy tourist spot, with visibility from both foot and drive traffic.
Public remarks also indicate lenient and generous zoning, which the listing states could support a range of uses, including restaurant/bar/cafe, MedSpa and medical practices (such as dentistry, ophthalmology, and cosmetic surgery), florist, bank, daycare, specialty school, and dance studio, as well as indoor virtual reality activities (including golf simulation and escape rooms). The remarks cite population growth in Little Havana during the period from April 2020 to July 1, 2024.
Key Highlights
- Corner lot with 88 ft frontage on Calle Ocho (SW 8th Street)
- High‑traffic area with visibility from foot and drive traffic
- Gated parking for customer or tenant use
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
$292,294
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
4.91%
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%
$5,845,880
$5.8M
Cap Rate 7%
$4,175,629
$4.2M
Cap Rate 9%
$3,247,711
$3.2M
Market Conditions
NOI Build-Up for 8,959 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
$465.5K $51.96/SF
− Vacancy
−$47.9K −$5.35/SF
EGI
$417.6K $46.61/SF
− OpEx
−$125.3K −$13.98/SF
NOI
$292.3K $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%
$5,845,880
Cap Rate 7%
$4,175,629
Cap Rate 9%
$3,247,711
Alternative Uses
Best Use
Retail
$4.18M
$3.65M – $4.87M
NOI $292,294 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.05M
$5.29M – $7.06M
NOI $423,317 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,291
Businesses Nearby
Explore this area
Business Placement
Demographics for 33130, FL
35,609
Population
20,377
Households
1.7
Avg Household Size
36
Median Age
42%
College-Educated
81%
High-School Grad
1.1 sq mi
ZIP Area
32,372
Density / Sq Mi
$57,933
Median Household Income
$36,888
Median Earnings
$1,656
Median Rent
$479,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Corner lot with 88 ft frontage on SW 8th Street and gated parking for customer or tenant use.
Where is this retail space located?
The property is located at 1008 Sw 8th St Miami, FL.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: Corner lot with 88 ft frontage on Calle Ocho (SW 8th Street); High‑traffic area with visibility from foot and drive traffic; Gated parking for customer or tenant use
