Restaurant Space in Prime
For Sale
Contact for pricing
1777 SW 3 AV, Miami, FL 33129
Restaurant space with high visibility and traffic flow.
Property Size3,000 SF
Price / SF$5.50
Days on Market208
Property Features for 1777 SW 3 AV
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Restaurant/Entertainment
Site & Location
Neighborhood
West Brickell
Building Details
Building Size
3,000 SF
Year Built
1998
Listing Agency:
Florida Realty of Miami Corp
Listed By:
Marleny Zapata · License #3147458
(305) 467-6529
Source:
Allyandaj
Added: Apr 9
Changed: Oct 31
Last Checked: Nov 1 at 12:29PM
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.
This commercial property, suitable for restaurants or bakeries, offers approximately 3,000 square feet of space. The interior features tile flooring and a walk-in cooler. Its location at the corner of Coral Way and 3rd Avenue provides high visibility and exposure to daily traffic. The property is situated near West Brickell and offers access to parking. It is also conveniently located near I-95, U.S. 1, Coral Gables, Coconut Grove, and Brickell. The location has a walk score of 100, indicating it is a walker's paradise, a bike score of 79, indicating it is very bikeable, and a transit score of 97, indicating it is a rider's paradise. Operating expenses are $2,000.
Key Highlights
- Outstanding corner location on Coral Way and 3rd Avenue with high visibility and daily traffic flow.
- Approximately 3,000 sqft, perfect for restaurant or bakery.
- Walking cooler included.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$141,751
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,835,020
$2.8M
Cap Rate 7%
$2,025,014
$2.0M
Cap Rate 9%
$1,575,011
$1.6M
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$191.9K $63.96/SF
− Vacancy
−$2.9K −$0.96/SF
EGI
$189.0K $63.00/SF
− OpEx
−$47.3K −$15.75/SF
NOI
$141.8K $47.25/SF
Area
Miami, FL
Vacancy
1.50%
Lease Rate
$63.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,835,020
Cap Rate 7%
$2,025,014
Cap Rate 9%
$1,575,011
Alternative Uses
Best Use
Specialty Retail
$2.03M
$1.77M – $2.36M
NOI $141,751 @ 7.0% cap · market cap 859.10%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
11,526
Businesses Nearby
Under-served
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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Market
Vacancy Rate% for Retail in Miami, FL
Similar Off Market Nearby
- Sterling Group Food — 2625 SW 3rd Ave, Miami, FL 33129
- The Lavender Chef, LLC — Miami, FL 33131
- Chelles Conch LLC — 1110 Brickell Ave, Miami, FL 33131
- Daavat Catering & Events LLC — Brickell Ave, Miami, FL 33131
- Vale Food Co — 900 S Miami Ave Suite 125, Miami, FL 33130
Frequently Asked Questions
What type of property is this?
Restaurant - Restaurant space with high visibility and traffic flow.
Where is this restaurant located?
The property is located at 1777 SW 3 AV Miami, FL.
What are key features of this property?
This property features: Outstanding corner location on Coral Way and 3rd Avenue with high visibility and daily traffic flow.; Approximately 3,000 sqft, perfect for restaurant or bakery.; Walking cooler included.
