Retail/Automotive Property with Drive-In
For Sale
Contact for pricing
17440 Northwest 2nd Avenue, Miami, FL 33169
5,100± SF building on a fully fenced site with six drive-in doors and three-phase power.
Property Size5,181 SF
Price / SF$984.37
Days on Market61
Property Features for 17440 Northwest 2nd Avenue
General Information
Standard status
Active
Size
5,181 SF
Property subtype
Retail, Industrial, Land
Zoning
6500 COMMERCIAL - CLASSIFIED
Lease Type
Modified Gross
Building Details
Year Built
1977
Year Renovated
2026
Buildings
1
Units
3
Listing Agency:
Smith Commercial Property Group
Listed By:
George Smith · License #FL 3301920
(786) 797-0903
Source:
Crexi
Added: Jul 7
Changed: Aug 31
Last Checked: Sep 1 at 9:43AM
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 Smith Commercial Property Group
Investment Insights
Based on property information with market context.
17440 NW 2nd Ave presents a retail/automotive-flex building configured for active drive-in operations, with six drive-in doors and three-phase power. The property sits on a fully fenced lot and has undergone recent renovations, with completion of its 40-year recertification.
The asset is positioned along one of Miami-Dade’s highest-exposure commercial corridors, shadow-anchored by Walmart at the entrance to the Golden Glades Interchange. It offers strong accessibility to I-95, Florida’s Turnpike, and SR-826, supporting convenient ingress and egress for commercial traffic.
The flexible zoning is described as accommodating a range of retail and automotive-related uses, along with marine and other commercial uses, and it also allows for numerous industrial-oriented users. Seller financing is noted as available.
The asset is positioned along one of Miami-Dade’s highest-exposure commercial corridors, shadow-anchored by Walmart at the entrance to the Golden Glades Interchange. It offers strong accessibility to I-95, Florida’s Turnpike, and SR-826, supporting convenient ingress and egress for commercial traffic.
The flexible zoning is described as accommodating a range of retail and automotive-related uses, along with marine and other commercial uses, and it also allows for numerous industrial-oriented users. Seller financing is noted as available.
Key Highlights
- 5,100± SF building on a fully fenced site
- 24,658 SF lot with six drive‑in doors for retail/automotive or industrial use
- Three‑phase power on‑site
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
$169,034
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
3.31%
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%
$3,380,680
$3.4M
Cap Rate 7%
$2,414,771
$2.4M
Cap Rate 9%
$1,878,156
$1.9M
Market Conditions
NOI Build-Up for 5,181 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
$269.2K $51.96/SF
− Vacancy
−$27.7K −$5.35/SF
EGI
$241.5K $46.61/SF
− OpEx
−$72.4K −$13.98/SF
NOI
$169.0K $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%
$3,380,680
Cap Rate 7%
$2,414,771
Cap Rate 9%
$1,878,156
Alternative Uses
Best Use
Retail
$2.41M
$2.11M – $2.82M
NOI $169,034 @ 7.0% cap · market cap 3.31%
Second Best
Flex RnD
$1.09M
$949.7K – $1.27M
NOI $75,974 @ 7.0% cap · market cap 1.49%
Theoretical Best
Specialty Retail
$3.50M
$3.06M – $4.08M
NOI $244,805 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,115
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33169, FL
42,308
Population
14,815
Households
2.9
Avg Household Size
37
Median Age
22%
College-Educated
85%
High-School Grad
6.8 sq mi
ZIP Area
6,222
Density / Sq Mi
$59,686
Median Household Income
$34,327
Median Earnings
$1,536
Median Rent
$352,800
Median Home Value
Market
Vacancy Rate% for Industrial in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Denar Garage — 805 NW 159th Dr, Miami Gardens, FL 33169
- Mercedes-Benz of Miami Service Center — 1200 NW 167th St A, Miami, FL 33169
- Mercedes-Benz of Miami Parts Center — 1200 NW 167th St B, Miami, FL 33169
- Xtreme Collision Repairs Corp — 16580 nw 10th ave, miami gardens, fl 33169
- ABT Sportsline North America LP — 16560 NW 10th Ave, Miami, FL 33169
Frequently Asked Questions
What type of property is this?
Auto shop - 5,100± SF building on a fully fenced site with six drive-in doors and three-phase power.
Where is this auto shop located?
The property is located at 17440 Northwest 2nd Avenue Miami, FL.
What is the asking price?
The asking price for this property is $5,100,000.
What are key features of this property?
This property features: 5,100± SF building on a fully fenced site; 24,658 SF lot with six drive‑in doors for retail/automotive or industrial use; Three‑phase power on‑site
