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    Retail/Office Condo Suite with Restroom Title is generated by Realmo AI

    1627 SW 37th Ave # 1 #CU-1, Miami, FL 33145

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    Condo suite with private restroom, central A/C, and secure storage, currently leased through December 2026.

    Type:Retail, Multifamily, Office
    Property size:
    1,107 SF
    Price / SF:
    $451/SF
    Added:
    Jun 2, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 6 at 3:47 am

    Property Features for 1627 SW 37th Ave # 1 #CU-1

    General Information

    Standard status
    Active
    Size
    1,107 SF
    Property subtype
    Retail, Multifamily, Office

    Building Details

    Year Built
    2004

    We can help!

    Listing Contact
    Mauricio Jalil
    Mauricio Jalil

    Listing agent Mauricio Jalil License #3207268

    Listing office MJ Estates, Inc.

    Listing date Jun 2, 2026

    Source Crexi

    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.

    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
    • Mint‑condition interior with a spacious private inside restroom plus a secure storage/coat closet
    • Private, efficient layout suitable for professional, medical, or creative uses
    • Seller may finance; offered at a 6% cap rate with annual increases

    Overview

    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.

    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 (±1% cap)
    NOI $36,117 @ 7.0% cap · market cap 7.22%
    Second Best
    Office B
    $453.7K
    $397.0K – $529.3K (±1% cap)
    NOI $31,757 @ 7.0% cap · market cap 6.35%
    Theoretical Best
    Specialty Retail
    $747.2K
    $653.8K – $871.8K (±1% cap)
    NOI $52,306 @ 7.0% cap · market cap 10.46%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.223414
    Latitude
    25.81039

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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
    (305) 984-8693 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Mauricio Jalil
    Mauricio Jalil
    Real Estate License ID: 3207268
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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