Development Portfolio Site on
2828 SW 37th Ave Miami, FL 33133
2828 SW 37th Ave, Miami, FL, 33133
$15,000,000
For Sale
$15,000,000
Development portfolio site authorized for 8 stories mixed-use building.
Property Size42,000 SF
Price / SF$357.14
Days on Market93
Property Features for 2828 SW 37th Ave
General Information
- Standard status
- Active
- Size
- 42,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1950
Listing Agency
(786) 200-4509
Listed by
Roger Pardo
(786) 200-4509
Source
Elliman
Added: Apr 15 Checked: Jul 16 at 4:41 am
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 Roger Pardo
Investment Insights
Based on property information with market context.
This portfolio includes 7 properties located on Douglas Road, totaling 42,000 square feet. The zoning is T5-0 +3, authorized for an 8-story building. The properties are assembled corner lots with frontage on Douglas Road, across from the renovated Douglas Park. Included in the sale are floor plans approved for an 8-story mixed-use building, featuring 3 stories of parking and 5 stories with 135 condo apartments. The portfolio includes properties at 3700 SW 28th St, 2810 SW 37th Ave, 2814 SW 37th Ave, 2816 SW 37th Ave, 2828 SW 37th Ave, 2824 SW 37th Ave, and 2828 SW 37h Ave. The location is between Coral Gables, Coconut Grove, and Miami International Airport. The bike score is 74, indicating it is very bikeable. The walk score is 83, indicating it is very walkable. The transit score is 57, indicating good transit.
Key Highlights
- Development portfolio site of 7 properties with corner lots and large frontage on Douglas Rd.
- Zoning T5‑0 +3 authorizes construction of an 8‑story building.
- Approved floor plans included for an 8‑story mixed‑use building with 3 stories of parking and 5 stories (135 condo apartments).
Local Financial Insights For Mixed Use
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 | $1.76M | $42.00 |
| − Vacancy | −$176.4k | −$4.20 |
| EGI | $1.59M | $37.80 |
| − OpEx | −$595.4k | −$14.18 |
| NOI | $992.3k | $23.63 |
42,000 SF · lease $42.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$14.17M
$12.40M – $16.54M
NOI $992,250 @ 7.0% cap · market cap 6.62%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$28.35M
$24.81M – $33.08M
NOI $1,984,519 @ 7.0% cap · market cap 13.23%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Commercial land
Similar For Sale Nearby
FAQs
What type of property is this?
Commercial land - Development portfolio site authorized for 8 stories mixed-use building.
Where is this commercial land located?
The property is located at 2828 SW 37th Ave Miami, FL.
What is the asking price?
The asking price for this property is $15,000,000.
What are key features of this property?
This property features: Development portfolio site of 7 properties with corner lots and large frontage on Douglas Rd.; Zoning T5‑0 +3 authorizes construction of an 8‑story building.; Approved floor plans included for an **8‑story mixed‑use building with 3 stories of parking and 5 stories (135 condo apartments).**
