Overtown Miami Retail
For Sale
$3,000,000
1525-27 NW 3rd Ave, Miami, FL 33136
Fully leased retail building in Overtown, Miami.
Property Size2,800 SF
Price / SF$1,071
Days on Market217
Property Features for 1525-27 NW 3rd Ave
General Information
Standard status
Active
Size
2,800 SF
Site & Location
Neighborhood
Northeast Overtown
Building Details
Year Built
1941
Listing Agency:
Neighbors Realty LLC
Listed By:
Alejandro Riocabo · License #0303368
(305) 785-4340
Source:
Mymiahomes
Added: Mar 26
Changed: Oct 25
Last Checked: Oct 7 at 1:00PM
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 Neighbors Realty LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The City Club Building in Overtown, Miami, is a retail property with a size of 2,800 square feet. The property is currently entirely leased for $25.00 per square foot on a NNN basis.
Key Highlights
- Entirely Leased, offering immediate income.
- Priced at $25.00 Per Square Foot.
- NNN Lease, providing a simplified ownership structure.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$91,352
Cap Rate
3.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,827,040
$1.8M
Cap Rate 7%
$1,305,029
$1.3M
Cap Rate 9%
$1,015,022
$1.0M
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$145.5K $51.96/SF
− Vacancy
−$15.0K −$5.35/SF
EGI
$130.5K $46.61/SF
− OpEx
−$39.2K −$13.98/SF
NOI
$91.4K $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 Rate 5%
$1,827,040
Cap Rate 7%
$1,305,029
Cap Rate 9%
$1,015,022
Alternative Uses
Best Use
Retail
$1.31M
$1.14M – $1.52M
NOI $91,352 @ 7.0% cap · market cap 3.05%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.89M
$1.65M – $2.21M
NOI $132,301 @ 7.0% cap · market cap 4.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,567
Businesses Nearby
Explore this area
Business Placement
Demographics for 33136, FL
15,439
Population
7,994
Households
1.9
Avg Household Size
36
Median Age
25%
College-Educated
73%
High-School Grad
1.4 sq mi
ZIP Area
11,028
Density / Sq Mi
$43,481
Median Household Income
$34,130
Median Earnings
$1,337
Median Rent
$352,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Miami, FL
Frequently Asked Questions
What type of property is this?
Retail space - Fully leased retail building in Overtown, Miami.
Where is this retail space located?
The property is located at 1525-27 NW 3rd Ave Miami, FL.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Entirely Leased, offering immediate income.; Priced at $25.00 Per Square Foot.; NNN Lease, providing a simplified ownership structure.
