Corner Lot with Development
For Sale
$1,999,999
1953 SW 27th Ave, Miami, FL 33145
Prime corner lot suitable for mixed-use or hospitality development.
Property Size2,000 SF
Lot Size0.13 Acres
Price / SF$999
Days on Market462
Property Features for 1953 SW 27th Ave
General Information
Standard status
Active
Size
2,000 SF
Lot size
0.13 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$16,319
Listing Agency:
Coldwell Banker Home Lovers Realty
(786) 285-9750
Listed By:
Jacqueline Garcia · License #0650458
Source:
Luxeknows
Added: May 21, 2025
Changed: Aug 23
Last Checked: Aug 24 at 1:18PM
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 Coldwell Banker Home Lovers Realty
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 = 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
$57,375
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
2.87%
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%
$1,147,500
$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
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
$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 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%
$1,147,500
Cap Rate 7%
$819,643
Cap Rate 9%
$637,500
Alternative Uses
Best Use
Office B
$819.6K
$717.2K – $956.3K
NOI $57,375 @ 7.0% cap · market cap 2.87%
Second Best
Mixed Use
$675.0K
$590.6K – $787.5K
NOI $47,250 @ 7.0% cap · market cap 2.36%
Theoretical Best
Specialty Retail
$1.35M
$1.18M – $1.58M
NOI $94,501 @ 7.0% cap · market cap 4.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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.**
