Prime Development Opportunity with
11920 NW 27th Ave, Miami, FL 33167
Free-standing building on a large lot with mixed-use development potential.
Type:Commercial
Property size:
14,040 SFLot size:
1.38 AcresPrice / SF:
$562/SF- Added:
- Mar 10, 2026
- Days on Market:
- 121
- Last Refresh:
- Jul 2 at 10:40 am
Property Features for 11920 NW 27th Ave
General Information
- Standard status
- Active
- Size
- 14,040 SF
- Lot size
- 1.38 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1994
Listing office (305) 927-8103
Listing date Mar 10, 2026
Source Elliman
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 Mauricio Fernandez Piqueras
HighLights
- Exceptional mixed‑use development potential: UC‑MM | Core zoning allows for high‑density development with 125 units per acre, up to 15 stories, and approximately 325 units as of right.
- Significant incentives available under SB‑102, potentially reducing the price per door to approximately $19,500 and allowing for an estimated 500 units with applicable bonuses.
- Prime free‑standing building with a drive‑thru on a large 60,168 SF lot.
- Strategic location at a high‑traffic corner in a dense residential and commercial corridor, near major retailers and with quick access to major highways (I‑95, FL‑924, and the Turnpike).
- Property features a brand‑new 2024 AC system with warranty and a new electrical system.
- Clean Phase I Environmental report, survey less than 3 years old, and completed 40‑Year Certification.
Overview
The property features a free-standing building with a drive-thru, situated on a 60,168 square foot lot. The building itself encompasses approximately 14,040 square feet. Zoned UC-MM | Core, the property presents a mixed-use development opportunity, allowing for 125 units per acre and up to 15 stories. As of right, 325 or more units are permitted, along with 3 to 4 floors of parking without underground requirements, and commercial retail space on the ground floor. The property has a clean Phase I Environmental report by Dynatech Engineering and a survey less than 3 years old. It also features a completed 40-Year Certification, a new 2024 AC system with warranty, a new electrical system, and certified sprinkler systems. There are 76 parking spaces available. The property is located at the corner of NW 27th Ave and NW 119th St in a dense residential and commercial area, near retailers such as Marathon, Dollar Tree, Taco Bell, and McDonald's. Nearby amenities include Miami-Dade College North Campus, North Shore Medical Center, Deep End Fitness, and Miami-Opa Locka Executive Airport, with convenient access to I-95, FL-924, and the Turnpike. Opa-Locka is known for its Moorish Revival architecture, an active airport, and ongoing CRA-driven redevelopment.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $729.5k | $51.96 |
| − Vacancy | −$75.1k | −$5.35 |
| EGI | $654.4k | $46.61 |
| − OpEx | −$196.3k | −$13.98 |
| NOI | $458.1k | $32.63 |
14,040 SF · lease $51.96/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$6.54M
$5.73M – $7.63M
NOI $458,065 @ 7.0% cap · market cap 5.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.48M
$8.29M – $11.06M
NOI $663,396 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
COVID-19 Drive-Thru Testing ...
Medical Laboratory
TD Bank ATM
Atm
David O. Campbell, ...
Pharmacy
Coinhub Bitcoin ATM ...
Atm
Bitcoin Depot | BDCheckout
Atm
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.2437
- Latitude
- 25.8834
Nearby Similar for Sale
FAQs
What type of property is this?
Commercial land - Free-standing building on a large lot with mixed-use development potential.
Where is this commercial land located?
The property is located at 11920 NW 27th Ave Miami, FL.
What is the asking price?
The asking price for this property is $7,900,000.
What are key features of this property?
This property features: Exceptional mixed‑use development potential: UC‑MM | Core zoning allows for high‑density development with 125 units per acre, up to 15 stories, and approximately 325 units as of right.; Significant incentives available under SB‑102, potentially reducing the price per door to approximately $19,500 and allowing for an estimated 500 units with applicable bonuses.; Prime free‑standing building with a drive‑thru on a large 60,168 SF lot.
