Corner Retail Property with Two
For Sale
$1,399,999
1818 17th Ave, Miami, FL 33125
Free-standing corner property with an active grocery building and a leased tire shop under flexible T6-8-O zoning.
Property Size4,437 SF
Lot Size0.12 Acres
Price / SF$315.53
Days on Market36
Property Features for 1818 17th Ave
General Information
Standard status
Active
Size
4,437 SF
Lot size
0.12 Acres
Property subtype
General Commercial
Zoning
T6-8-O
Additional Details
Business Included
Yes
Road Access
Yes
Liquor License
Yes
Amenities
3
Building Details
Year Built
1918
Stories
3
Listing Agency:
Compass Florida, LLC.
(203) 913-6485
Listed By:
Grecia Araujo · License #3347644
(203) 913-6485
Source:
Xome
Added: Jul 7
Changed: Aug 8
Last Checked: Aug 11 at 5:20AM
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 Compass Florida, LLC.
Investment Insights
Based on property information with market context.
This free-standing commercial property sits on a corner lot and includes two separate structures. The main building totals 3,696 SF and is currently operated as an owner-operated grocery store on the ground floor, with storage/office space on the second and third levels. A secondary 741 SF structure is leased to a tire shop, providing in-place rental income. The property is carried on a 5,045 SF lot and is supported by flexible T6-8-O zoning.
The asset is located at 1818 NW 17th Ave in Miami, Florida. Public remarks note the site is on a main corridor and is within blocks of the River Landing development and the Health District.
At closing, the property can be delivered vacant. The purchase may also include business equipment and licenses tied to the existing grocery operation, including a scale license, tobacco sales, and beer & wine, depending on negotiation.
The asset is located at 1818 NW 17th Ave in Miami, Florida. Public remarks note the site is on a main corridor and is within blocks of the River Landing development and the Health District.
At closing, the property can be delivered vacant. The purchase may also include business equipment and licenses tied to the existing grocery operation, including a scale license, tobacco sales, and beer & wine, depending on negotiation.
Key Highlights
- Free‑standing corner commercial property with two structures totaling 4,437 SF
- Main building is 3,696 SF with ground‑floor grocery use and storage/office on the 2nd and 3rd levels
- Secondary structure is 741 SF leased to a tire shop, providing in‑place rental income
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
$59,609
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
4.26%
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%
$1,192,180
$1.2M
Cap Rate 7%
$851,557
$851.6K
Cap Rate 9%
$662,322
$662.3K
Market Conditions
NOI Build-Up for 4,437 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
$89.4K $20.16/SF
− Vacancy
−$4.3K −$0.97/SF
EGI
$85.2K $19.19/SF
− OpEx
−$25.5K −$5.76/SF
NOI
$59.6K $13.43/SF
Area
Miami, FL
Vacancy
4.80%
Lease Rate
$20.16 /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%
$1,192,180
Cap Rate 7%
$851,557
Cap Rate 9%
$662,322
Alternative Uses
Best Use
Specialty Retail
$2.99M
$2.62M – $3.49M
NOI $209,650 @ 7.0% cap · market cap 14.98%
Second Best
Retail
$2.07M
$1.81M – $2.41M
NOI $144,760 @ 7.0% cap · market cap 10.34%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
6,726
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
Median Home Value
Market
Vacancy Rate% for Retail in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Free-standing corner property with an active grocery building and a leased tire shop under flexible T6-8-O zoning.
Where is this grocery and convenience store located?
The property is located at 1818 17th Ave Miami, FL.
What is the asking price?
The asking price for this property is $1,399,999.
What are key features of this property?
This property features: Free‑standing corner commercial property with two structures totaling 4,437 SF; Main building is 3,696 SF with ground‑floor grocery use and storage/office on the 2nd and 3rd levels; Secondary structure is 741 SF leased to a tire shop, providing in‑place rental income
