Coral Ritz Shopping
New
For Sale
$18,500,000
1775 3 AVENUE, Miami, FL 33129
The existing center can be retained, or redevelopment options may be evaluated subject to applicable requirements.
Property Size43,552 SF
Lot Size1.00 Acre
Price / SF$1,027
Days on Market2
Property Features for 1775 3 AVENUE
General Information
Standard status
Active
Size
43,552 SF
Lot size
1.00 Acre
Property subtype
Commercial
Lease Term
Month-to-month
Taxes and HOA fees
Annual Taxes
$231,000
Building Details
Building Size
43,552 SF
Stories
1
Units
11
Listing Agency:
Florida Realty of Miami Corp
Listed By:
Marleny Zapata · License #3147458
(305) 467-6529
Source:
Elliman
Added: Oct 16
Last Checked: Oct 16 at 2:02PM
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 Florida Realty of Miami Corp
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Investment Insights
Based on property information with market context.
Coral Ritz Shopping Center is an existing retail property on a 1-acre parcel in Miami. The building contains 18,013 square feet. The property information describes retaining the current improvements or considering redevelopment, subject to applicable laws and regulations.
The site is near the Brickell area, with a Walk Score of 98, a Transit Score of 89 and a Bike Score of 80. Development concepts described include a building of up to 8 floors and an alternative under the Live Local Act. The stated concepts require verification and remain subject to program requirements, applicable laws and regulations at the time of submittal.
The site is near the Brickell area, with a Walk Score of 98, a Transit Score of 89 and a Bike Score of 80. Development concepts described include a building of up to 8 floors and an alternative under the Live Local Act. The stated concepts require verification and remain subject to program requirements, applicable laws and regulations at the time of submittal.
Key Highlights
- Existing shopping center with 18, 013 sq. ft. on a 1‑acre lot
- Near the Brickell area
- Walk Score: 98; Transit Score: 89; Bike Score: 80
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$587,686
Cap Rate
3.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,753,720
$11.8M
Cap Rate 7%
$8,395,514
$8.4M
Cap Rate 9%
$6,529,844
$6.5M
Market Conditions
NOI Build-Up for 18,013 SF
Gross rent
$936.0K $51.96/SF
− Vacancy
−$96.4K −$5.35/SF
EGI
$839.6K $46.61/SF
− OpEx
−$251.9K −$13.98/SF
NOI
$587.7K $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 Rate 5%
$11,753,720
Cap Rate 7%
$8,395,514
Cap Rate 9%
$6,529,844
Alternative Uses
Best Use
Retail
$8.40M
$7.35M – $9.79M
NOI $587,686 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$12.16M
$10.64M – $14.19M
NOI $851,122 @ 7.0% cap · market cap 4.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
11,526
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33129, FL
15,218
Population
8,275
Households
1.8
Avg Household Size
44
Median Age
68%
College-Educated
97%
High-School Grad
1.4 sq mi
ZIP Area
10,870
Density / Sq Mi
$102,969
Median Household Income
$54,935
Median Earnings
$2,241
Median Rent
$573,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Miami, FL
Similar Off Market Nearby
- Ana office — 2929 SW 3rd Ave, Miami, FL 33129
- Stich Lab feria — 1548 Brickell Ave, Miami, FL 33129
- Miami — miami, fl 33130
- shooping center brickell — 1500 SW 1st Ave, Miami, FL 33129
- Estado de Portugal — Miami, FL 33131, United States
Frequently Asked Questions
What type of property is this?
Shopping center - The existing center can be retained, or redevelopment options may be evaluated subject to applicable requirements.
Where is this shopping center located?
The property is located at 1775 3 AVENUE Miami, FL.
What is the asking price?
The asking price for this property is $18,500,000.
What are key features of this property?
This property features: Existing shopping center with 18, 013 sq. ft. on a 1‑acre lot; Near the Brickell area; Walk Score: 98; Transit Score: 89; Bike Score: 80
