Restaurant-Built 1031 Exchange
For Sale
$734,900
200 SE 15th Rd # 2S, Miami, FL 33129
An occupied commercial condo includes restaurant equipment and is leased to an operating tenant.
Property Size680 SF
Price / SF$1,080
Days on Market14
Property Features for 200 SE 15th Rd # 2S
General Information
Standard status
Active
Size
680 SF
Property subtype
Restaurant/Entertainment
Occupancy
100%
Additional Details
Equipment Included
Yes
Building Details
Year Built
1974
Listing Agency:
Locqube Florida, Inc.
Listed By:
Elaine Perez · License #3666930
Source:
Miamibrokersgroup
Added: Sep 30
Changed: Oct 13
Last Checked: Oct 13 at 2:09AM
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 Locqube Florida, Inc.
Investment Insights
Based on property information with market context.
This commercial condominium contains approximately 680 SF of restaurant space, with equipment in place and an established operator occupying the premises. The property was built in 1974, and the tenant holds a long-term lease.
The property is located on SE 15th Rd in Miami’s Brickell area. Its existing restaurant fit-out and occupied status are key components of the offering.
The property is located on SE 15th Rd in Miami’s Brickell area. Its existing restaurant fit-out and occupied status are key components of the offering.
Key Highlights
- Approximately 680 SF commercial condominium
- Occupied by an established restaurant operator
- Restaurant equipment is in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,130
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$642,600
$642.6K
Cap Rate 7%
$459,000
$459.0K
Cap Rate 9%
$357,000
$357.0K
Market Conditions
NOI Build-Up for 680 SF
Gross rent
$43.5K $63.96/SF
− Vacancy
−$652 −$0.96/SF
EGI
$42.8K $63.00/SF
− OpEx
−$10.7K −$15.75/SF
NOI
$32.1K $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 Rate 5%
$642,600
Cap Rate 7%
$459,000
Cap Rate 9%
$357,000
Alternative Uses
Best Use
Specialty Retail
$459.0K
$401.6K – $535.5K
NOI $32,130 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
6,194
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Miami, FL
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Frequently Asked Questions
What type of property is this?
1031 exchange property - An occupied commercial condo includes restaurant equipment and is leased to an operating tenant.
Where is this 1031 exchange property located?
The property is located at 200 SE 15th Rd # 2S Miami, FL.
What is the asking price?
The asking price for this property is $734,900.
What are key features of this property?
This property features: Approximately 680 SF commercial condominium; Occupied by an established restaurant operator; Restaurant equipment is in place
