Miami Commercial Property on NW
For Sale
$1,200,000
2112 NW 36th St, Miami, FL 33142
Commercial building on a 7,057 SF lot, suitable for redevelopment.
Property Size2,723 SF
Lot Size0.16 Acres
Price / SF$440.69
Days on Market169
Property Features for 2112 NW 36th St
General Information
Standard status
Active
Size
2,723 SF
Lot size
0.16 Acres
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$14,533
Building Details
Building Size
2,723 SF
Year Built
1925
Listing Agency:
Keyes Company Realtors
(786) 316-6526
Listed By:
Francisco Kayser · License #3173134
(786) 316-6526
Source:
Elliman
Added: Mar 10
Changed: Aug 24
Last Checked: Aug 24 at 7:20AM
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 Keyes Company Realtors
Investment Insights
Based on property information with market context.
Located along NW 36th Street near NW 21st Avenue in Miami, this stand-alone building was previously an auto parts and service shop. The property features 2,723 SF of building area, including approximately 2,000 SF of air-conditioned workspace. The 7,057 SF lot provides space for parking, storage, or future expansion. Zoned T6-8-O, the property allows for mixed-use development, including residential and commercial, retail, office, or multifamily opportunities. The location offers visibility and strong traffic counts, supporting both owner-user and investor/developer strategies. It is suitable for automotive use or conversion to a wide range of commercial operations.
Key Highlights
- Prime commercial location on NW 36th Street with high visibility and strong traffic counts.
- Flexible T6‑8‑O zoning allows for mixed‑use development.
- 2,723 SF stand‑alone building with approximately 2,000 SF of air‑conditioned workspace.
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
$88,840
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
7.40%
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%
$1,776,800
$1.8M
Cap Rate 7%
$1,269,143
$1.3M
Cap Rate 9%
$987,111
$987.1K
Market Conditions
NOI Build-Up for 2,723 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
$141.5K $51.96/SF
− Vacancy
−$14.6K −$5.35/SF
EGI
$126.9K $46.61/SF
− OpEx
−$38.1K −$13.98/SF
NOI
$88.8K $32.63/SF
Area
Miami, FL
Vacancy
10.30%
Lease Rate
$51.96 /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%
$1,776,800
Cap Rate 7%
$1,269,143
Cap Rate 9%
$987,111
Alternative Uses
Best Use
Retail
$1.27M
$1.11M – $1.48M
NOI $88,840 @ 7.0% cap · market cap 7.40%
Second Best
Industrial
$522.6K
$457.3K – $609.7K
NOI $36,582 @ 7.0% cap · market cap 3.05%
Theoretical Best
Specialty Retail
$1.84M
$1.61M – $2.14M
NOI $128,663 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,528
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
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.
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Frequently Asked Questions
What type of property is this?
Auto shop - Commercial building on a 7,057 SF lot, suitable for redevelopment.
Where is this auto shop located?
The property is located at 2112 NW 36th St Miami, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Prime commercial location on NW 36th Street with high visibility and strong traffic counts.; Flexible T6‑8‑O zoning allows for mixed‑use development.; 2,723 SF stand‑alone building with approximately 2,000 SF of air‑conditioned workspace.
