First-Floor Restaurant
For Sale
$850,000
Pending
1s-200 Se 15th Rd, Miami, FL 33129
First-floor restaurant unit with water views upon exit and a current restaurant lease through December 2025.
Property Size850 SF
Days on Market451
Property Features for 1s-200 Se 15th Rd
General Information
Standard status
Pending
Size
850 SF
Taxes and HOA fees
Annual Taxes
$6,944
Listing Agency:
The Elaine Group, Inc.
Listed By:
Elaine Perez · License #A11984109
(786) 287-4344
Source:
Exprealty
Added: Jun 13, 2025
Changed: Sep 5
Last Checked: Sep 5 at 12:27PM
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 The Elaine Group, Inc.
Investment Insights
Based on property information with market context.
This first-floor restaurant suite offers approximately 850 square feet of space in Brickell, with tranquil water views upon exit. The unit is currently leased to a restaurant tenant through December 2025, providing immediate rental income.
The space is positioned for day-to-day restaurant use and is available for purchase as an income-producing asset while the existing lease remains in place.
Buyers should note the current occupancy and lease term ending in December 2025 when planning for future use or business transition.
The space is positioned for day-to-day restaurant use and is available for purchase as an income-producing asset while the existing lease remains in place.
Buyers should note the current occupancy and lease term ending in December 2025 when planning for future use or business transition.
Key Highlights
- 850 sq. ft. first‑floor restaurant unit in the heart of Brickell
- Water views upon exit from the unit
- Currently leased to a restaurant tenant through December 2025
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
$40,163
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
4.73%
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%
$803,260
$803.3K
Cap Rate 7%
$573,757
$573.8K
Cap Rate 9%
$446,256
$446.3K
Market Conditions
NOI Build-Up for 850 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
$54.4K $63.96/SF
− Vacancy
−$815 −$0.96/SF
EGI
$53.6K $63.00/SF
− OpEx
−$13.4K −$15.75/SF
NOI
$40.2K $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 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%
$803,260
Cap Rate 7%
$573,757
Cap Rate 9%
$446,256
Alternative Uses
Best Use
Specialty Retail
$573.8K
$502.0K – $669.4K
NOI $40,163 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
11,922
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
Market
Vacancy Rate% for Retail in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Cafe 701 — 701 Brickell Ave, Miami, FL 33131
- Ar Ar Ar — Miami, FL 33130
Frequently Asked Questions
What type of property is this?
Conventional restaurant - First-floor restaurant unit with water views upon exit and a current restaurant lease through December 2025.
Where is this conventional restaurant located?
The property is located at 1s-200 Se 15th Rd Miami, FL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 850 sq. ft. first‑floor restaurant unit in the heart of Brickell; Water views upon exit from the unit; Currently leased to a restaurant tenant through December 2025
