Corner Retail Building with Vacant
211 Menores Avenue, Coral Gables, FL 33134
For Sale
Contact for pricing
Fully leased corner retail building paired with an adjacent multifamily-zoned vacant lot at a key Coral Gables intersection.
Property Size3,997 SF
Price / SF$200.15
Days on Market148
Property Features for 211 Menores Avenue
General Information
Standard status
Size
Class
Property subtype
Zoning
Occupancy
Lease Type
Investment Type
Site & Location
Neighborhood
Building Details
Year Built
Year Renovated
Buildings
Stories
Units
Tenancy
Listing Agency:
Manny Chamizo #1 Sotheby's Commercial Broker
Listed By:
Manny Chamizo · License FL #0479698
(786) 486-6655
Source:
Crexi
Added: Jun 16
Changed: Oct 25
Last Checked: Nov 10 at 8:41AM
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 Manny Chamizo #1 Sotheby's Commercial Broker
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Investment Insights
Based on property information with market context.
This offering combines a fully leased corner commercial building with an adjacent vacant lot. The building at 1424-1430 Ponce de Leon Boulevard totals 3,997 square feet and is 100% occupied by two tenants: Limitless Dance Collective and Kick LLC. The leases extend through early 2029, supporting reported gross annual income of more than $180,000. The package also includes 211 Menores Avenue, a 5,000 square-foot vacant lot located directly next to the building.
The property sits at the northwest corner of Ponce de Leon Boulevard and Menores Avenue in Coral Gables. The corridor is noted as being within the North Ponce Mixed-Use Overlay District, which connects Miracle Mile, Downtown Coral Gables, Coconut Grove, and Brickell, according to the remarks provided.
For an owner-operator, this configuration offers immediate, in-place occupancy in a corner retail building alongside a nearby development or site-planning option. For investors or landlords, the existing tenant base and lease term provide near-term stability while the adjacent multifamily-zoned lot can be used for parking today or held for future redevelopment consistent with its multifamily zoning. Together, the building and land parcel create one corner holding with both current income and flexibility.
The property sits at the northwest corner of Ponce de Leon Boulevard and Menores Avenue in Coral Gables. The corridor is noted as being within the North Ponce Mixed-Use Overlay District, which connects Miracle Mile, Downtown Coral Gables, Coconut Grove, and Brickell, according to the remarks provided.
For an owner-operator, this configuration offers immediate, in-place occupancy in a corner retail building alongside a nearby development or site-planning option. For investors or landlords, the existing tenant base and lease term provide near-term stability while the adjacent multifamily-zoned lot can be used for parking today or held for future redevelopment consistent with its multifamily zoning. Together, the building and land parcel create one corner holding with both current income and flexibility.
Key Highlights
- Fully leased corner commercial building at 1424–1430 Ponce de Leon Blvd with 3,997 SF total and 100% occupancy by two tenants
- Gross annual income over $180,000 with leases in place through early 2029 (Limitless Dance Collective and Kick LLC)
- Adjacent 5,000 SF vacant lot at 211 Menores Ave, next to the building, zoned multifamily
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,544
Cap Rate
6.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$970,880
$970.9K
Cap Rate 7%
$693,486
$693.5K
Cap Rate 9%
$539,378
$539.4K
Market Conditions
NOI Build-Up for 3,997 SF
Gross rent
$73.4K $18.36/SF
− Vacancy
−$4.0K −$1.01/SF
EGI
$69.3K $17.35/SF
− OpEx
−$20.8K −$5.21/SF
NOI
$48.5K $12.15/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$970,880
Cap Rate 7%
$693,486
Cap Rate 9%
$539,378
Alternative Uses
Best Use
Retail
$693.5K
$606.8K – $809.1K
NOI $48,544 @ 7.0% cap · market cap 6.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.18M
$1.91M – $2.55M
NOI $152,786 @ 7.0% cap · market cap 19.10%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
6,880
Businesses Nearby
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Business Placement
Demographics for 33134, FL
38,739
Population
18,136
Households
2.1
Avg Household Size
46
Median Age
54%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
7,450
Density / Sq Mi
$92,009
Median Household Income
$56,392
Median Earnings
$1,818
Median Rent
$660,200
Median Home Value
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Market
Average Price Trend$/SF for Retail space in Coral Gables, FL
Properties on Market for Retail space in Coral Gables
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - Fully leased corner retail building paired with an adjacent multifamily-zoned vacant lot at a key Coral Gables intersection.
Where is this retail space located?
The property is located at 211 Menores Avenue Coral Gables, FL.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Fully leased corner commercial building at 1424–1430 Ponce de Leon Blvd with 3,997 SF total and 100% occupancy by two tenants; Gross annual income over $180,000 with leases in place through early 2029 (Limitless Dance Collective and Kick LLC); Adjacent 5,000 SF vacant lot at 211 Menores Ave, next to the building, zoned multifamily
