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 Market170
Property Features for 1525-27 NW 3rd Ave
General Information
Standard status
Active
Size
2,800 SF
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: Sep 10
Last Checked: Sep 9 at 9:15PM
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
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 = 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
$91,352
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
3.05%
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%
$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
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
$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 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%
$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.
Property Analytics
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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
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Market
Vacancy Rate% for Retail in Miami, FL
Questions? Ask Rey
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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.
