Warehouse Development
For Sale
$5,350,000
Pending
2600 NE 2nd Ave, Miami, FL 33137
For sale in a Qualified Opportunity Zone, offering development potential with walkable and bike-friendly transit scores.
Property Size14,152 SF
Days on Market36
Property Features for 2600 NE 2nd Ave
General Information
Standard status
Pending
Size
14,152 SF
Property subtype
Commercial
Additional Details
Opportunity Zone
Yes
Building Details
Building Size
14,152 SF
Listing Agency:
APEX Capital Realty LLC
(305) 609-2879
Listed By:
Luciana Gonzalez · License #3276201
(305) 609-2879
Source:
Elliman
Added: Jul 21
Changed: Aug 21
Last Checked: Aug 25 at 11:28AM
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 APEX Capital Realty LLC
Investment Insights
Based on property information with market context.
This offering is presented as a warehouse property with development potential totaling 14,152 square feet. The site is described as being within a Qualified Opportunity Zone and within the proposed Northeast Residential Density Increase Area.
The property is located at 2600 NE 2nd Ave in Miami. Public remarks highlight the area’s momentum in multi-family development and commercial activity, and note that the block has been cited as a potential location for a proposed train station, which could contribute to additional zoning changes aimed at transit-oriented development. The remarks also provide mobility context, listing a Walk Score of 97, a Bike Score of 71, and a Transit Score of 51.
The property is located at 2600 NE 2nd Ave in Miami. Public remarks highlight the area’s momentum in multi-family development and commercial activity, and note that the block has been cited as a potential location for a proposed train station, which could contribute to additional zoning changes aimed at transit-oriented development. The remarks also provide mobility context, listing a Walk Score of 97, a Bike Score of 71, and a Transit Score of 51.
Key Highlights
- 14,152 SF of development potential in Miami’s Edgewater neighborhood
- Located in a Qualified Opportunity Zone
- Within the proposed Northeast Residential Density Increase Area
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
$230,868
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
4.32%
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%
$4,617,360
$4.6M
Cap Rate 7%
$3,298,114
$3.3M
Cap Rate 9%
$2,565,200
$2.6M
Market Conditions
NOI Build-Up for 14,152 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
$285.3K $20.16/SF
− Vacancy
−$13.7K −$0.97/SF
EGI
$271.6K $19.19/SF
− OpEx
−$40.7K −$2.88/SF
NOI
$230.9K $16.31/SF
Area
Miami, FL
Vacancy
4.80%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
15.00%
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%
$4,617,360
Cap Rate 7%
$3,298,114
Cap Rate 9%
$2,565,200
Alternative Uses
Best Use
Warehouse
$3.30M
$2.89M – $3.85M
NOI $230,868 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.55M
$8.36M – $11.14M
NOI $668,688 @ 7.0% cap · market cap 12.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,184
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33137, FL
25,763
Population
15,237
Households
1.7
Avg Household Size
37
Median Age
51%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
12,882
Density / Sq Mi
$82,798
Median Household Income
$53,519
Median Earnings
$2,338
Median Rent
$532,900
Median Home Value
Market
Vacancy Rate% for Industrial in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - For sale in a Qualified Opportunity Zone, offering development potential with walkable and bike-friendly transit scores.
Where is this warehouse located?
The property is located at 2600 NE 2nd Ave Miami, FL.
What is the asking price?
The asking price for this property is $5,350,000.
What are key features of this property?
This property features: 14,152 SF of development potential in Miami’s Edgewater neighborhood; Located in a Qualified Opportunity Zone; Within the proposed Northeast Residential Density Increase Area
