Corner Flex Space With
For Sale
$2,800,000
Pending
3301 NE 2nd Ave, Miami, FL 33137
Office and warehouse areas are paired with a conference room, courtyard, kitchen, and three bathrooms.
Property Size4,500 SF
Days on Market3434
Property Features for 3301 NE 2nd Ave
General Information
Standard status
Pending
Size
4,500 SF
Property subtype
General Commercial
Additional Details
Office Units
6
Taxes and HOA fees
Annual Taxes
$33,690
Amenities
Warehouse
Conference room
Courtyard with roof
3 bathrooms
kitchen
3
11 Parking Spaces.
Building Details
Year Built
1982
Buildings
1
Building Size
4,500 SF
Listing Agency:
Dynamic Realty Group, Inc.
(305) 915-4854
Listed By:
Marion Ott · License #0617981
(305) 915-4854
Source:
Xome
Added: Apr 7, 2017
Changed: Aug 31
Last Checked: Aug 30 at 1:50PM
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 Dynamic Realty Group, Inc.
Investment Insights
Based on property information with market context.
This 4,500-square-foot flex property combines a professional office layout with supporting warehouse space. The interior includes six private offices, a reception area, a conference room, three bathrooms, and a kitchen. A covered courtyard adds an additional on-site amenity, while 11 parking spaces support daily operations.
Built in 1982, the building occupies a corner lot at 3301 NE 2nd Ave in Miami. Its setting places the property a few blocks south of the Design District, two blocks east of Midtown, one block west of Biscayne Blvd, and a few blocks north of Wynwood.
Built in 1982, the building occupies a corner lot at 3301 NE 2nd Ave in Miami. Its setting places the property a few blocks south of the Design District, two blocks east of Midtown, one block west of Biscayne Blvd, and a few blocks north of Wynwood.
Key Highlights
- 4,500 SF flex property with office and warehouse components
- Six individual offices plus reception and conference areas
- Covered courtyard, kitchen, and three bathrooms
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
$129,094
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
4.61%
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%
$2,581,880
$2.6M
Cap Rate 7%
$1,844,200
$1.8M
Cap Rate 9%
$1,434,378
$1.4M
Market Conditions
NOI Build-Up for 4,500 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
$202.5K $45.00/SF
− Vacancy
−$30.4K −$6.75/SF
EGI
$172.1K $38.25/SF
− OpEx
−$43.0K −$9.56/SF
NOI
$129.1K $28.69/SF
Area
Miami, FL
Vacancy
15.00%
Lease Rate
$45.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,581,880
Cap Rate 7%
$1,844,200
Cap Rate 9%
$1,434,378
Alternative Uses
Best Use
Office B
$1.84M
$1.61M – $2.15M
NOI $129,094 @ 7.0% cap · market cap 4.61%
Second Best
Flex RnD
$942.7K
$824.9K – $1.10M
NOI $65,988 @ 7.0% cap · market cap 2.36%
Theoretical Best
Specialty Retail
$3.04M
$2.66M – $3.54M
NOI $212,627 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Office units
Location Intelligence
Trade Area within ½ mile
6,008
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 Office in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse areas are paired with a conference room, courtyard, kitchen, and three bathrooms.
Where is this flex space located?
The property is located at 3301 NE 2nd Ave Miami, FL.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 4,500 SF flex property with office and warehouse components; Six individual offices plus reception and conference areas; Covered courtyard, kitchen, and three bathrooms
