Mixed-Use Triple Net
For Sale
$6,950,000
17325 27th Ave, Miami Gardens, FL 33056
All units are triple net leased and 100% occupied, with recent building upgrades and substantial parking.
Property Size21,387 SF
Lot Size0.90 Acres
Price / SF$324.96
Days on Market431
Property Features for 17325 27th Ave
General Information
Standard status
Active
Size
21,387 SF
Total Parking Spaces
85
Lot size
0.90 Acres
Property subtype
Mixed Use
Occupancy
100%
Additional Details
Cap Rate
7.03%
Taxes and HOA fees
Annual Taxes
$53,548
Amenities
LED lighting
surveillance cameras
LED monument sign
elevator
staircases
3
85 Parking Spaces. Shared Driveway.
City Road.
Building Details
Year Built
1989
Listing Agency:
Castillo & Associates Real Estate, Inc
(305) 778-5383
Listed By:
Maydelin Castillo Florez · License #A11963299
(305) 778-5383
Source:
Xome
Added: Jun 8, 2025
Changed: Aug 8
Last Checked: Aug 12 at 3:47AM
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 Castillo & Associates Real Estate, Inc
Investment Insights
Based on property information with market context.
This for-sale mixed-use property is comprised of multiple small spaces under triple net leases, with 100% occupancy reported. The building totals 24,964 square feet and was built in 1989 on a 39,204 square foot lot. Operational improvements include a recently re-roofed structure, new LED lighting, and new surveillance cameras throughout the property, along with a new LED monument sign. The property also includes one elevator and two staircases.
The asset provides parking for 85 cars. The financial highlights provided with the listing note an overall cap rate of 7.03% and annual rent escalations associated with the triple net leases.
The current leasing structure is described as multiple short-term leases, with the listing indicating potential for additional rent optimization through leasing remaining space and adjusting rents. The property is presented as stable cash flow with upside tied to the existing leasing setup.
The asset provides parking for 85 cars. The financial highlights provided with the listing note an overall cap rate of 7.03% and annual rent escalations associated with the triple net leases.
The current leasing structure is described as multiple short-term leases, with the listing indicating potential for additional rent optimization through leasing remaining space and adjusting rents. The property is presented as stable cash flow with upside tied to the existing leasing setup.
Key Highlights
- 24,964 SF mixed‑use building built in 1989 on a 39,204 SF lot
- All units are triple net leased with 100% occupancy
- Cap rate 7.03% with strong and stable cash flow reported for investors
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
$324,449
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
4.67%
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%
$6,488,980
$6.5M
Cap Rate 7%
$4,634,986
$4.6M
Cap Rate 9%
$3,604,989
$3.6M
Market Conditions
NOI Build-Up for 21,387 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
$551.8K $25.80/SF
− Vacancy
−$119.2K −$5.57/SF
EGI
$432.6K $20.23/SF
− OpEx
−$108.1K −$5.06/SF
NOI
$324.4K $15.17/SF
Area
Miami Gardens, FL
Vacancy
21.60%
Lease Rate
$25.80 /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%
$6,488,980
Cap Rate 7%
$4,634,986
Cap Rate 9%
$3,604,989
Alternative Uses
Best Use
Office B
$4.63M
$4.06M – $5.41M
NOI $324,449 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.37M
$5.57M – $7.43M
NOI $445,704 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
809
Businesses Nearby
Explore this area
Business Placement
Demographics for 33056, FL
36,556
Population
12,155
Households
3
Avg Household Size
37
Median Age
18%
College-Educated
84%
High-School Grad
6.1 sq mi
ZIP Area
5,993
Density / Sq Mi
$62,255
Median Household Income
$33,179
Median Earnings
$1,659
Median Rent
$332,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - All units are triple net leased and 100% occupied, with recent building upgrades and substantial parking.
Where is this nnn property located?
The property is located at 17325 27th Ave Miami Gardens, FL.
What is the asking price?
The asking price for this property is $6,950,000.
What are key features of this property?
This property features: 24,964 SF mixed‑use building built in 1989 on a 39,204 SF lot; All units are triple net leased with 100% occupancy; Cap rate 7.03% with strong and stable cash flow reported for investors
