Downtown Miami Retail Investment
For Sale
$2,500,000
150 SE 2nd Ave 103, Miami, FL 33131
Prime retail space in Downtown Miami's Chase Building.
Property Size3,492 SF
Lot Size0.11 Acres
Price / SF$715.92
Days on Market154
Property Features for 150 SE 2nd Ave 103
General Information
Standard status
Active
Size
3,492 SF
Lot size
0.11 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$29,190
Building Details
Building Size
3,492 SF
Year Built
1967
Listing Agency:
Synergy Realty Advisors LLC
(786) 202-3303
Listed By:
Giovanni Vasquez · License #3333058
(786) 202-3303
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 5:19AM
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 Synergy Realty Advisors LLC
Investment Insights
Based on property information with market context.
Located at 150 SE 2nd Ave, Suite 103, this 3,492 square foot retail space is situated in Downtown Miami's Chase Building. The property is currently leased by USPS, a federally backed tenant, occupying 2,000 square feet under a partial NNN lease. The lease includes an 8% rent increase at each 5-year renewal, providing stable cash flow. An additional 1,492 square feet is leased as storage to various tenants within the building, generating supplementary income. As one of only four retail spaces on the first floor, the property benefits from high visibility and significant foot traffic. The location is characterized by dense commercial and residential development and is near major transit hubs. This property represents a retail investment opportunity in a growing market.
Key Highlights
- Leased to USPS, providing stable cash flow and long‑term security.
- Prime Downtown Miami location in the Chase Building with high visibility and heavy foot traffic.
- 3,492 SF property with a partial NNN lease and 8% rent increases every 5 years.
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
$113,929
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
4.56%
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%
$2,278,580
$2.3M
Cap Rate 7%
$1,627,557
$1.6M
Cap Rate 9%
$1,265,878
$1.3M
Market Conditions
NOI Build-Up for 3,492 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
$181.4K $51.96/SF
− Vacancy
−$18.7K −$5.35/SF
EGI
$162.8K $46.61/SF
− OpEx
−$48.8K −$13.98/SF
NOI
$113.9K $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%
$2,278,580
Cap Rate 7%
$1,627,557
Cap Rate 9%
$1,265,878
Alternative Uses
Best Use
Retail
$1.63M
$1.42M – $1.90M
NOI $113,929 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.36M
$2.06M – $2.75M
NOI $164,999 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
15,904
Businesses Nearby
Explore this area
Business Placement
Demographics for 33131, FL
26,213
Population
18,872
Households
1.4
Avg Household Size
37
Median Age
77%
College-Educated
98%
High-School Grad
0.5 sq mi
ZIP Area
52,426
Density / Sq Mi
$143,114
Median Household Income
$86,331
Median Earnings
$2,847
Median Rent
$621,700
Median Home Value
Market
Vacancy Rate% for Retail in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Prime retail space in Downtown Miami's Chase Building.
Where is this retail space located?
The property is located at 150 SE 2nd Ave 103 Miami, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Leased to USPS, providing stable cash flow and long‑term security.; Prime Downtown Miami location in the Chase Building with high visibility and heavy foot traffic.; 3,492 SF property with a partial NNN lease and 8% rent increases every 5 years.
