T6-8 Zoned Mixed-Use
For Sale
$5,700,000
2720 Southwest 37th Avenue, Miami, FL 33133
Three fully rented mixed-use buildings on a T6-8 zoned assemblage with redevelopment feasibility for mid-rise housing.
Property Size6,761 SF
Lot Size0.47 Acres
Days on Market16
Property Features for 2720 Southwest 37th Avenue
General Information
Standard status
Active
Size
6,761 SF
Class
B
Lot size
0.47 Acres
Property subtype
VacantLand
Zoning
T 6 8 0
Occupancy
100%
Additional Details
Road Access
Yes
Building Details
Building Size
6,761 SF
Year Renovated
2023
Listing Agency:
Synergy Realty Advisors
(305) 297-3557
Listed By:
Andros Sarduy · License #3225429
Source:
Commercialcafe
Added: Jul 26
Changed: Aug 8
Last Checked: Aug 9 at 9:05AM
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 Synergy Realty Advisors
Investment Insights
Based on property information with market context.
The offering is a 20,581 sf T6-8 zoned assemblage presented by Synergy Realty Advisors, consisting of three fully rented mixed-use buildings generating $18,000 per month. The feasibility study indicates multiple redevelopment pathways, including a 12-story, 120k sf concept with rooftop pool and three levels of parking, with the plan noting up to 70 units possible. A second “by right” scenario is also presented: a 96k sf, 8-story building with a rooftop pool deck and three levels of parking, with the plan noting 42 units feasible.
The T6-8 designation is described as a mid-rise zoning category for the City of Miami, allowing for apartments, storage, retail, and office uses. The remarks also indicate the site is near Coral Gables Hospital, which is described as a potential fit for medical use, and the seller would be open to staying as an anchor tenant in a new medical tower.
The property is available on its own or together with an adjacent block to the south, according to the provided remarks.
The T6-8 designation is described as a mid-rise zoning category for the City of Miami, allowing for apartments, storage, retail, and office uses. The remarks also indicate the site is near Coral Gables Hospital, which is described as a potential fit for medical use, and the seller would be open to staying as an anchor tenant in a new medical tower.
The property is available on its own or together with an adjacent block to the south, according to the provided remarks.
Key Highlights
- 20,581 SF T6‑8 zoned assemblage on Douglas Road at the edge of Coral Gables
- Three fully rented mixed‑use buildings generating $18,000/month
- Redevelopment feasibility: up to 70 units in a proposed 120,000 SF, 12‑story building with rooftop pool and three levels of parking
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
$220,582
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
3.87%
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%
$4,411,640
$4.4M
Cap Rate 7%
$3,151,171
$3.2M
Cap Rate 9%
$2,450,911
$2.5M
Market Conditions
NOI Build-Up for 6,761 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
$351.3K $51.96/SF
− Vacancy
−$36.2K −$5.35/SF
EGI
$315.1K $46.61/SF
− OpEx
−$94.5K −$13.98/SF
NOI
$220.6K $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%
$4,411,640
Cap Rate 7%
$3,151,171
Cap Rate 9%
$2,450,911
Alternative Uses
Best Use
Retail
$3.15M
$2.76M – $3.68M
NOI $220,582 @ 7.0% cap · market cap 3.87%
Second Best
Mixed Use
$2.28M
$2.00M – $2.66M
NOI $159,729 @ 7.0% cap · market cap 2.80%
Theoretical Best
Specialty Retail
$4.56M
$3.99M – $5.32M
NOI $319,460 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5,249
Businesses Nearby
Explore this area
Business Placement
Demographics for 33133, FL
34,141
Population
17,235
Households
2
Avg Household Size
43
Median Age
62%
College-Educated
95%
High-School Grad
4.2 sq mi
ZIP Area
8,129
Density / Sq Mi
$92,734
Median Household Income
$58,233
Median Earnings
$1,945
Median Rent
$906,800
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?
Mixed-use property - Three fully rented mixed-use buildings on a T6-8 zoned assemblage with redevelopment feasibility for mid-rise housing.
Where is this mixed-use property located?
The property is located at 2720 Southwest 37th Avenue Miami, FL.
What is the asking price?
The asking price for this property is $5,700,000.
What are key features of this property?
This property features: 20,581 SF T6‑8 zoned assemblage on Douglas Road at the edge of Coral Gables; Three fully rented mixed‑use buildings generating $18,000/month; Redevelopment feasibility: up to 70 units in a proposed 120,000 SF, 12‑story building with rooftop pool and three levels of parking
