Corner Retail Building with Vacant
For Sale
Contact for pricing
211 Menores Avenue, Coral Gables, FL 33134
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 Market103
Property Features for 211 Menores Avenue
General Information
Standard status
Active
Size
3,997 SF
Class
C
Property subtype
Retail, Land
Zoning
MX-3 Mixed-Use 3
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Stabilized
Building Details
Year Built
1956
Year Renovated
2022
Buildings
1
Stories
1
Units
20
Tenancy
Multi
Listing Agency:
Manny Chamizo #1 Sotheby's Commercial Broker
Listed By:
Manny Chamizo · License #0479698
(786) 486-6655
Source:
Crexi
Added: Jun 16
Changed: Sep 18
Last Checked: Sep 26 at 6:31AM
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
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 = 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
$67,586
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
8.45%
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%
$1,351,720
$1.4M
Cap Rate 7%
$965,514
$965.5K
Cap Rate 9%
$750,956
$751.0K
Market Conditions
NOI Build-Up for 3,997 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
$105.5K $26.40/SF
− Vacancy
−$9.0K −$2.24/SF
EGI
$96.6K $24.16/SF
− OpEx
−$29.0K −$7.25/SF
NOI
$67.6K $16.91/SF
Area
Miami-Dade County, FL
Vacancy
8.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
30.00%
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%
$1,351,720
Cap Rate 7%
$965,514
Cap Rate 9%
$750,956
Alternative Uses
Best Use
Retail
$965.5K
$844.8K – $1.13M
NOI $67,586 @ 7.0% cap · market cap 8.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.03M
$1.77M – $2.37M
NOI $141,949 @ 7.0% cap · market cap 17.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
6,880
Businesses Nearby
Explore this area
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
Vacancy Rate% for Retail in South region
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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
