Listing Agency: Coldwell Banker Home Lovers Realty

Listed By: Jacqueline Garcia · License #0650458 Show Phone

Source: Luxeknows

Added: May 21, 2025 Changed: Oct 3 Last Checked: Oct 13 at 3:08AM

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Investment Insights

Based on property information with market context.

This offering features a corner commercial lot with a 2,000 sqft structure currently engaging in commercial activity. The lot size is 5,580 sqft. Zoned T6-8-O, the parcel allows for the development of up to 8 stories and approximately 50,000 SF of buildable floor area under the permitted FAR. Located in one of the most sought-after urban corridors, this site is ideal for mixed-use, multifamily, office, or hospitality projects. The property is perfectly positioned on a prominent corner with excellent visibility and accessibility.

Key Highlights

• Combined lots offer 10,230 SF on a prominent corner with excellent visibility and accessibility.
• Zoned T6‑8‑O, allowing for development of up to 8 stories and approximately 50,000 SF of buildable floor area.
• Located in a highly desirable urban corridor, ideal for mixed‑use, multifamily, office, or hospitality projects.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$57,375

Cap Rate

2.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,147,500 $1.1M

Cap Rate 7%

$819,643 $819.6K

Cap Rate 9%

$637,500 $637.5K

Market Conditions

NOI Build-Up for 2,000 SF

Gross rent

$90.0K $45.00/SF

− Vacancy

−$13.5K −$6.75/SF

EGI

$76.5K $38.25/SF

− OpEx

−$19.1K −$9.56/SF

NOI

$57.4K $28.69/SF

Area

Miami, FL

Vacancy

15.00%

Lease Rate

$45.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,147,500

Cap Rate 7%

$819,643

Cap Rate 9%

$637,500

Alternative Uses

Best Use

Office B

$819.6K

$717.2K – $956.3K (±1% cap)

NOI $57,375 @ 7.0% cap · market cap 2.87%

Second Best

Mixed Use

$675.0K

$590.6K – $787.5K (±1% cap)

NOI $47,250 @ 7.0% cap · market cap 2.36%

Theoretical Best

Specialty Retail

$1.35M

$1.18M – $1.58M (±1% cap)

NOI $94,501 @ 7.0% cap · market cap 4.73%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Commercial land

Suggested Use

Top Pick Parking Lot & Garage Daycare Center Restaurant Catering Service Butcher Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,441

Businesses Nearby

Explore this area Business Placement

Demographics for 33145, FL

29,737

Population

12,773

Households

2.3

Avg Household Size

44

Median Age

42%

College-Educated

85%

High-School Grad

2.5 sq mi

ZIP Area

11,895

Density / Sq Mi

$70,592

Median Household Income

$43,039

Median Earnings

$1,769

Median Rent

$560,300

Median Home Value

Market

Vacancy Rate% for Office in Miami, FL

12.4% 2019

16.3% 2020

17% 2021

16.1% 2022

15% 2023

16.1% 2024

15.2% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this commercial land located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Commercial land - Prime corner lot suitable for mixed-use or hospitality development.

Where is this commercial land located?

The property is located at 1953 SW 27th Ave Miami, FL.

What is the asking price?

The asking price for this property is $1,999,999.

What are key features of this property?

This property features: Combined lots offer **10,230 SF on a prominent corner with excellent visibility and accessibility.**; Zoned T6‑8‑O, **allowing for development of up to 8 stories and approximately 50,000 SF of buildable floor area.**; Located in a **highly desirable urban corridor, ideal for mixed‑use, multifamily, office, or hospitality projects.**