Brickell Rooftop Commercial
For Sale
$3,238,883
239 SW 9th St 2401, Miami, FL 33130
Unique rooftop space in Brickell with skyline views.
Property Size3,069 SF
Price / SF$1,055
Days on Market152
Property Features for 239 SW 9th St 2401
General Information
Standard status
Active
Size
3,069 SF
Property subtype
Commercial
Building Details
Building Size
3,069 SF
Year Built
2023
Listing Agency:
Habitat Realty LLC
(786) 521-8144
Listed By:
Javier Motta · License #3265070
(786) 521-8144
Source:
Elliman
Added: Mar 26
Changed: Aug 16
Last Checked: Aug 23 at 7:53AM
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 Habitat Realty LLC
Investment Insights
Based on property information with market context.
Located in the heart of Brickell within the Smart Brickell development, this commercial property offers a unique opportunity to acquire a premium rooftop space. The property features modern finishes, floor-to-ceiling glass, expansive terraces, and panoramic skyline views. It is suitable for hospitality, events, or upscale commercial concepts. The 24th floor includes 2,189 square feet of interior air-conditioned space and a 400-square-foot terrace, creating an indoor-outdoor environment suitable for events, lounge concepts, or private gatherings. The 25th floor features 880 square feet of interior air-conditioned space and a 1,728-square-foot rooftop terrace with panoramic skyline views, ideal for a bar, hospitality venue, or rooftop lounge. Combined, the property provides a total of 3,069 square feet of air-conditioned interior space and 2,128 square feet of terrace space. The property is currently leased for a 1-year term, providing immediate income. Ownership may negotiate an early tenant termination. The location benefits from strong pedestrian traffic and continued growth in Miami’s financial district, situated steps from Brickell City Centre, Mary Brickell Village, and major transportation corridors.
Key Highlights
- Rare Rooftop Commercial Space: Unique opportunity in Miami's Brickell, a highly sought‑after and limited asset type.
- Prime Location: Steps from Brickell City Centre, Mary Brickell Village, and major transportation, benefiting from high pedestrian traffic.
- Income‑Generating: Currently leased with option for early termination, providing immediate income or vacant possession.
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
$100,128
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
3.09%
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%
$2,002,560
$2.0M
Cap Rate 7%
$1,430,400
$1.4M
Cap Rate 9%
$1,112,533
$1.1M
Market Conditions
NOI Build-Up for 3,069 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
$159.5K $51.96/SF
− Vacancy
−$16.4K −$5.35/SF
EGI
$143.0K $46.61/SF
− OpEx
−$42.9K −$13.98/SF
NOI
$100.1K $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%
$2,002,560
Cap Rate 7%
$1,430,400
Cap Rate 9%
$1,112,533
Alternative Uses
Best Use
Retail
$1.43M
$1.25M – $1.67M
NOI $100,128 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.07M
$1.81M – $2.42M
NOI $145,012 @ 7.0% cap · market cap 4.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
15,952
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
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 - Unique rooftop space in Brickell with skyline views.
Where is this retail space located?
The property is located at 239 SW 9th St 2401 Miami, FL.
What is the asking price?
The asking price for this property is $3,238,883.
What are key features of this property?
This property features: Rare Rooftop Commercial Space: Unique opportunity in Miami's Brickell, a highly sought‑after and limited asset type.; Prime Location: Steps from Brickell City Centre, Mary Brickell Village, and major transportation, benefiting from high pedestrian traffic.; Income‑Generating: Currently leased with option for early termination, providing immediate income or vacant possession.
