Two-Story Corner Retail Office
501 NE 31st Street #CU1 Miami, FL 33137
For Sale
$5,400,000
Two-story corner unit with prominent double-height glass and a private elevator, delivered in vanilla box condition for flexible use.
Property Size7,108 SF
Price / SF$759.71
Days on Market49
Property Features for 501 NE 31st Street #CU1
General Information
Standard status
Active
Size
7,108 SF
Building Details
Year Built
2018
Listing Agency:
Lumer Real Estate
(305) 776-4997
Listed By:
Marcela Duarte
(305) 776-4997
Source:
Laerrealty
Added: Jun 12
Changed: Jul 10
Last Checked: Jul 30 at 2:52AM
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 Lumer Real Estate
Investment Insights
Based on property information with market context.
This sale offering features a premier two-story commercial corner unit with space distributed across two levels. The property provides a double-height exposure and prominent glass frontage, with a private elevator connecting the floors. It is delivered in vanilla box condition, giving an owner or tenant flexibility to customize the layout for a wide range of commercial concepts. Dedicated parking is included with 11 spaces.
Located at 501 NE 31st Street, #CU1 in Miami, the unit is positioned in the Edgewater area at Paraiso Bayviews. The property is described as having strong visibility and convenient access to Midtown, the Design District, Wynwood, Downtown Miami, and Biscayne Boulevard.
Designed for owner-users and investors alike, the configuration supports multiple programming options. The space is presented as a full unit totaling 7,108 SF, offering flexibility for retail, medical, wellness, office, showroom, educational, restaurant, or professional uses. Seller financing is available, providing an additional option for qualified buyers looking to acquire a high-profile, customizable commercial asset.
Located at 501 NE 31st Street, #CU1 in Miami, the unit is positioned in the Edgewater area at Paraiso Bayviews. The property is described as having strong visibility and convenient access to Midtown, the Design District, Wynwood, Downtown Miami, and Biscayne Boulevard.
Designed for owner-users and investors alike, the configuration supports multiple programming options. The space is presented as a full unit totaling 7,108 SF, offering flexibility for retail, medical, wellness, office, showroom, educational, restaurant, or professional uses. Seller financing is available, providing an additional option for qualified buyers looking to acquire a high-profile, customizable commercial asset.
Key Highlights
- 2018‑built two‑story corner commercial unit with 7,108 SF total (3,554 SF per floor)
- Double‑height exposure with prominent glass frontage, including the largest glass frontages in the building
- Private elevator serving the two levels plus delivered‑in-"vanilla box" condition for flexible buildout
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 | $369.3k | $51.96 |
| − Vacancy | −$38.0k | −$5.35 |
| EGI | $331.3k | $46.61 |
| − OpEx | −$99.4k | −$13.98 |
| NOI | $231.9k | $32.63 |
7,108 SF · lease $51.96/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.31M
$2.90M – $3.87M
NOI $231,903 @ 7.0% cap · market cap 4.29%
Second Best
Office B
$2.91M
$2.55M – $3.40M
NOI $203,911 @ 7.0% cap · market cap 3.78%
Theoretical Best
Specialty Retail
$4.80M
$4.20M – $5.60M
NOI $335,856 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Two-story corner unit with prominent double-height glass and a private elevator, delivered in vanilla box condition for flexible use.
Where is this office units located?
The property is located at 501 NE 31st Street #CU1 Miami, FL.
What is the asking price?
The asking price for this property is $5,400,000.
What are key features of this property?
This property features: 2018‑built two‑story corner commercial unit with 7,108 SF total (3,554 SF per floor); Double‑height exposure with prominent glass frontage, including the largest glass frontages in the building; Private elevator serving the two levels plus delivered‑in-"vanilla box" condition for flexible buildout
