Ground-Floor Bank
For Sale
Contact for pricing
150 SE 2nd Avenue Suites 101 & 102, Miami, FL 33131
Corporate-guaranteed occupancy runs through September 2032, with one five-year renewal option.
Property Size9,622 SF
Price / SF$1,009
Days on Market10
Property Features for 150 SE 2nd Avenue Suites 101 & 102
General Information
Standard status
Active
Size
9,622 SF
Property subtype
Retail
Occupancy
100%
Net Operating Income
$378,776
Site & Location
Corner Location
Yes
Traffic Count
30,000 vehicles/day
Highway Access
Yes
Additional Details
Floor
Ground
Asking Price
$9,712,180
Building Details
Tenancy
Single
Listing Agency:
AG Real Estate Advisors LLC
Listed By:
Rodrigo Gomez · License #0703084
(305) 794-2655
Source:
Crexi
Added: Sep 18
Changed: Sep 24
Last Checked: Sep 26 at 7:35AM
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 AG Real Estate Advisors LLC
Investment Insights
Based on property information with market context.
This ground-floor bank condominium comprises 9,622 square feet within the Chase Bank Building. JPMorgan Chase Bank, N.A. occupies the space in full under a corporate guaranty through September 15, 2032, with one remaining five-year option. The lease includes contractual annual escalations of 3%. Building signage rights are included in the condominium ownership.
The property occupies the corner of SE 2nd Avenue and SE 2nd Street at 150 SE 2nd Avenue, Suites 101 and 102, in Miami. The remarks report more than 30,000 vehicles per day on SE 2nd Avenue and two-way I-95 access one block south. Nearby destinations named in the property information include the Hyatt Regency Miami, JW Marriott Marquis, Whole Foods Market, Miami Tower, Bayfront Park, Kaseya Arena and the Miami-Dade College Wolfson Campus.
The property occupies the corner of SE 2nd Avenue and SE 2nd Street at 150 SE 2nd Avenue, Suites 101 and 102, in Miami. The remarks report more than 30,000 vehicles per day on SE 2nd Avenue and two-way I-95 access one block south. Nearby destinations named in the property information include the Hyatt Regency Miami, JW Marriott Marquis, Whole Foods Market, Miami Tower, Bayfront Park, Kaseya Arena and the Miami-Dade College Wolfson Campus.
Key Highlights
- 9,622‑square‑foot ground‑floor bank condominium
- 100% occupied by JPMorgan Chase Bank, N.A., under a corporate guaranty through September 15, 2032
- One five‑year option remains; contractual annual rent escalations are 3%
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
$454,644
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
4.68%
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%
$9,092,880
$9.1M
Cap Rate 7%
$6,494,914
$6.5M
Cap Rate 9%
$5,051,600
$5.1M
Market Conditions
NOI Build-Up for 9,622 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
$615.4K $63.96/SF
− Vacancy
−$9.2K −$0.96/SF
EGI
$606.2K $63.00/SF
− OpEx
−$151.5K −$15.75/SF
NOI
$454.6K $47.25/SF
Area
Miami, FL
Vacancy
1.50%
Lease Rate
$63.96 /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%
$9,092,880
Cap Rate 7%
$6,494,914
Cap Rate 9%
$5,051,600
Alternative Uses
Best Use
Specialty Retail
$6.49M
$5.68M – $7.58M
NOI $454,644 @ 7.0% cap · market cap 4.68%
Second Best
Retail
$4.48M
$3.92M – $5.23M
NOI $313,924 @ 7.0% cap · market cap 3.23%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
30,000 VPD
Traffic count
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
15,904
Businesses Nearby
Explore this area
Business Placement
Demographics for 33131, FL
26,213
Population
18,872
Households
1.4
Avg Household Size
37
Median Age
77%
College-Educated
98%
High-School Grad
0.5 sq mi
ZIP Area
52,426
Density / Sq Mi
$143,114
Median Household Income
$86,331
Median Earnings
$2,847
Median Rent
$621,700
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?
Bank - Corporate-guaranteed occupancy runs through September 2032, with one five-year renewal option.
Where is this bank located?
The property is located at 150 SE 2nd Avenue Suites 101 & 102 Miami, FL.
What is the asking price?
The asking price for this property is $9,712,180.
What are key features of this property?
This property features: 9,622‑square‑foot ground‑floor bank condominium; 100% occupied by JPMorgan Chase Bank, N.A., under a corporate guaranty through September 15, 2032; One five‑year option remains; contractual annual rent escalations are 3%
