Mixed-Use Development with Rooftop
New
For Sale
$25,000,000
175 NE 36th St, Miami, FL 33137
Proposed vertical commercial project with retail, restaurant, lobby, escalator-connected levels, and an open-air terrace.
Property Size12,500 SF
Price / SF$416.67
Days on Market3
Property Features for 175 NE 36th St
General Information
Standard status
Active
Size
12,500 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$66,412
Building Details
Building Size
12,500 SF
Year Built
1921
Buildings
1
Stories
9
Listing Agency:
One Sotheby's International Realty
(305) 538-9711
Listed By:
Mina Taskiran · License #3252261
Source:
Miamibrokersgroup
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 29 at 9:39AM
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 One Sotheby's International Realty
Investment Insights
Based on property information with market context.
The proposed nine-story mixed-use commercial project is planned with approximately 60,000 SF of space. The concept includes about 8,400 SF of ground-floor retail and lobby area, along with several upper levels ranging from approximately 6,000 to 6,800 SF. Escalators are planned to connect the vertical retail layout, while the ninth floor is designed for a restaurant with indoor and outdoor dining components.
The restaurant level includes approximately 1,602 SF of interior space and a 1,714 SF open-air terrace. The project is positioned between Miami’s Design District, Wynwood, Midtown, and Edgewater, with corner visibility from its NE 36th Street address. Kobi Karp Architecture & Interior Design is identified as the project architect.
The restaurant level includes approximately 1,602 SF of interior space and a 1,714 SF open-air terrace. The project is positioned between Miami’s Design District, Wynwood, Midtown, and Edgewater, with corner visibility from its NE 36th Street address. Kobi Karp Architecture & Interior Design is identified as the project architect.
Key Highlights
- Proposed nine‑story mixed‑use commercial project with approximately 60,000 SF
- Approximately 8,400 SF of ground‑floor retail and lobby space
- Upper levels range from approximately 6,000‑6,800 SF
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
$1,957,541
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
7.83%
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%
$39,150,820
$39.2M
Cap Rate 7%
$27,964,871
$28.0M
Cap Rate 9%
$21,750,456
$21.8M
Market Conditions
NOI Build-Up for 60,000 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
$3.12M $51.96/SF
− Vacancy
−$321.1K −$5.35/SF
EGI
$2.80M $46.61/SF
− OpEx
−$838.9K −$13.98/SF
NOI
$1.96M $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%
$39,150,820
Cap Rate 7%
$27,964,871
Cap Rate 9%
$21,750,456
Alternative Uses
Best Use
Specialty Retail
$40.50M
$35.44M – $47.25M
NOI $2,835,027 @ 7.0% cap · market cap 11.34%
Second Best
Retail
$27.96M
$24.47M – $32.63M
NOI $1,957,541 @ 7.0% cap · market cap 7.83%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,804
Businesses Nearby
Explore this area
Business Placement
Demographics for 33137, FL
25,763
Population
15,237
Households
1.7
Avg Household Size
37
Median Age
51%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
12,882
Density / Sq Mi
$82,798
Median Household Income
$53,519
Median Earnings
$2,338
Median Rent
$532,900
Median Home Value
Market
Vacancy Rate% for Retail in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Proposed vertical commercial project with retail, restaurant, lobby, escalator-connected levels, and an open-air terrace.
Where is this mixed-use property located?
The property is located at 175 NE 36th St Miami, FL.
What is the asking price?
The asking price for this property is $25,000,000.
What are key features of this property?
This property features: Proposed nine‑story mixed‑use commercial project with approximately 60,000 SF; Approximately 8,400 SF of ground‑floor retail and lobby space; Upper levels range from approximately 6,000‑6,800 SF
