Miami Strip Center For
For Sale
$2,500,000
19301 NW 2ND Ave, Miami, FL 33169
Three-unit strip center with income potential in a prime location.
Property Size3,503 SF
Lot Size0.38 Acres
Price / SF$1,133
Days on Market155
Property Features for 19301 NW 2ND Ave
General Information
Standard status
Active
Size
3,503 SF
Lot size
0.38 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$19,600
Building Details
Building Size
3,503 SF
Year Built
1956
Stories
1
Listing Agency:
KELLY RIGHT REAL ESTATE
(407) 666-7699
Listed By:
Samih Sadiq · License #3577381
(407) 666-7699
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 6:23AM
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 KELLY RIGHT REAL ESTATE
Investment Insights
Based on property information with market context.
Located at 19301 NW 2nd Avenue in Miami, Florida, this property presents an opportunity to acquire a three-unit strip center. The property features 2,206 square feet of building space on a 0.38-acre lot. The site provides ample parking and visibility for multiple tenants. The property is suitable for retail, service businesses, or professional use, offering occupancy prospects and flexibility for investors or owner-operators.
Key Highlights
- Strong income potential from a 3‑unit strip center.
- Excellent visibility and ample parking on a 0.38‑acre lot.
- Versatile commercial usability for retail, service businesses, or professional use.
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
$71,972
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
2.88%
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%
$1,439,440
$1.4M
Cap Rate 7%
$1,028,171
$1.0M
Cap Rate 9%
$799,689
$799.7K
Market Conditions
NOI Build-Up for 2,206 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
$114.6K $51.96/SF
− Vacancy
−$11.8K −$5.35/SF
EGI
$102.8K $46.61/SF
− OpEx
−$30.8K −$13.98/SF
NOI
$72.0K $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%
$1,439,440
Cap Rate 7%
$1,028,171
Cap Rate 9%
$799,689
Alternative Uses
Best Use
Retail
$1.03M
$899.7K – $1.20M
NOI $71,972 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.49M
$1.30M – $1.74M
NOI $104,234 @ 7.0% cap · market cap 4.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,296
Businesses Nearby
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 Retail in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Three-unit strip center with income potential in a prime location.
Where is this strip mall located?
The property is located at 19301 NW 2ND Ave Miami, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Strong income potential from a 3‑unit strip center.; Excellent visibility and ample parking on a 0.38‑acre lot.; Versatile commercial usability for retail, service businesses, or professional use.
