Calle Ocho Retail Space
For Sale
$1,159,999
2151 SW 8th St, Miami, FL 33135
Retail space on Calle Ocho, suitable for owner-user or investor.
Property Size2,782 SF
Price / SF$386.67
Days on Market143
Property Features for 2151 SW 8th St
General Information
Standard status
Active
Size
2,782 SF
Property subtype
Commercial
Lease Term
Month-to-month
Taxes and HOA fees
Annual Taxes
$10,414
Building Details
Building Size
2,782 SF
Year Built
1947
Stories
1
Listed By:
Miguel Solis PA
(305) 343-9554
Source:
Elliman
Added: Apr 24
Changed: Aug 16
Last Checked: Sep 13 at 9:26AM
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 Miguel Solis PA
Investment Insights
Based on property information with market context.
Located on Calle Ocho (SW 8 Street), this retail space offers a commercial opportunity in a vibrant Miami district. The property encompasses approximately 3,000 square feet and is zoned for retail use. Currently, the space is occupied on a month-to-month lease and utilized for religious purposes, providing flexibility for either an owner-user or investor. The layout includes two private offices and three individual restrooms. The space can be divided into two separate units of approximately 1,400 square feet each, with two separate doors and FPL meters. Its location provides access to Coral Gables, Coconut Grove, and the Brickell/Downtown corridor. The area has a walk score of 84, indicating it is very walkable, a bike score of 55, indicating it is bikeable, and a transit score of 45, indicating some transit options are available.
Key Highlights
- Prime location on iconic Calle Ocho (SW 8 Street)
- 3,000 sq ft retail space with flexibility for owner‑user or investor
- Zoned for retail 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
$97,877
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
8.44%
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%
$1,957,540
$2.0M
Cap Rate 7%
$1,398,243
$1.4M
Cap Rate 9%
$1,087,522
$1.1M
Market Conditions
NOI Build-Up for 3,000 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
$155.9K $51.96/SF
− Vacancy
−$16.1K −$5.35/SF
EGI
$139.8K $46.61/SF
− OpEx
−$41.9K −$13.98/SF
NOI
$97.9K $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%
$1,957,540
Cap Rate 7%
$1,398,243
Cap Rate 9%
$1,087,522
Alternative Uses
Best Use
Retail
$1.40M
$1.22M – $1.63M
NOI $97,877 @ 7.0% cap · market cap 8.44%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.03M
$1.77M – $2.36M
NOI $141,751 @ 7.0% cap · market cap 12.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,552
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Miami, FL
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space on Calle Ocho, suitable for owner-user or investor.
Where is this retail space located?
The property is located at 2151 SW 8th St Miami, FL.
What is the asking price?
The asking price for this property is $1,159,999.
What are key features of this property?
This property features: Prime location on iconic Calle Ocho (SW 8 Street); 3,000 sq ft retail space with flexibility for owner‑user or investor; Zoned for retail use
