Retail/Office Condo Suite with
1627 SW 37th Ave # 1 #CU-1 Miami, FL 33145
1627 SW 37th Ave # 1 #CU-1, Miami, FL, 33145
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For Sale
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Condo suite with private restroom, central A/C, and secure storage, currently leased through December 2026.
Property Size1,107 SF
Price / SF$451.58
Days on Market51
Property Features for 1627 SW 37th Ave # 1 #CU-1
General Information
- Standard status
- Active
- Size
- 1,107 SF
- Property subtype
- Mixed Use, Office
Building Details
- Year Built
- 2004
Listing agency
MJ Estates, Inc.
(305) 984-8693
Listed by
Mauricio Jalil · License #3207268
Source
Crexi
Added: Jun 2 Updated: Jul 10 at 3:59PM Checked: Jul 22 at 1:06PM
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 MJ Estates, Inc.
Investment Insights
Based on property information with market context.
This Coral Gables retail/office condo suite features mint-condition interior finishes and a bright, efficient layout. The space includes a spacious private inside restroom plus a secure storage/coat closet. Central A/C supports year-round comfort, and the common areas are well-kept, helping keep day-to-day operations straightforward. The unit measures over 1,100 SF and is configured as a standalone suite within the condo setting.
The property is located on Douglas Rd (SW 37 Ave) on the east side, near SW 16 St, providing practical access to Coral Gables, Brickell, the airport, and major corridors. The seller may finance, offering an additional option for qualified buyers.
The suite is currently leased until December 2026 to an established tenant, with a gross annual income of $45,084 and very low expenses. The offering is presented at a 6% CAP rate and includes annual increases, based on the information provided. For professional and medical-oriented operators, the layout supports a tidy, client-ready presentation with essential in-suite improvements already in place.
The property is located on Douglas Rd (SW 37 Ave) on the east side, near SW 16 St, providing practical access to Coral Gables, Brickell, the airport, and major corridors. The seller may finance, offering an additional option for qualified buyers.
The suite is currently leased until December 2026 to an established tenant, with a gross annual income of $45,084 and very low expenses. The offering is presented at a 6% CAP rate and includes annual increases, based on the information provided. For professional and medical-oriented operators, the layout supports a tidy, client-ready presentation with essential in-suite improvements already in place.
Key Highlights
- Retail/office condo suite built in 2004 with over 1,100 SF on Douglas Rd (SW 37 Ave), east side near SW 16 St
- Currently leased through December 2026, generating gross annual income of $45,084
- Central A/C and low operating costs with well‑kept common areas
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $57.5k | $51.96 |
| − Vacancy | −$5.9k | −$5.35 |
| EGI | $51.6k | $46.61 |
| − OpEx | −$15.5k | −$13.98 |
| NOI | $36.1k | $32.63 |
1,107 SF · lease $51.96/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$516.0K
$451.5K – $602.0K
NOI $36,117 @ 7.0% cap · market cap 7.22%
Second Best
Office B
$453.7K
$397.0K – $529.3K
NOI $31,757 @ 7.0% cap · market cap 6.35%
Theoretical Best
Specialty Retail
$747.2K
$653.8K – $871.8K
NOI $52,306 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
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FAQs
What type of property is this?
Office units - Condo suite with private restroom, central A/C, and secure storage, currently leased through December 2026.
Where is this office units located?
The property is located at 1627 SW 37th Ave # 1 #CU-1 Miami, FL.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Retail/office condo suite built in 2004 with over 1,100 SF on Douglas Rd (SW 37 Ave), east side near SW 16 St; Currently leased through December 2026, generating gross annual income of $45,084; Central A/C and low operating costs with well‑kept common areas
