Freestanding Flex Space with
New
For Sale
$6,650,000
2135 NW 1st Avenue, Miami, FL 33127
A column-free, fully air-conditioned interior pairs substantial studio improvements with grade-level loading access.
Property Size7,375 SF
Lot Size0.18 Acres
Price / SF$901.69
Days on Market2
Property Features for 2135 NW 1st Avenue
General Information
Standard status
Active
Size
7,375 SF
Lot size
0.18 Acres
Zoning
T5-O
Site & Location
Neighborhood
Wynwood Industrial District
Warehouse & Industrial
Clear Span
Yes
Conditioned Warehouse
Yes
Additional Details
Property Use
Designer Warehouse / Studio
Taxes and HOA fees
Annual Taxes
$51,197
Amenities
indoor swimming pool
jacuzzi
living quarters
Building Details
Building Size
7,375 SF
Year Built
1937
Buildings
1
Listing Agency:
Gridline Properties
Listed By:
Alfredo Riascos · License #3210686
(786) 325-5647
Source:
Laerrealty
Added: Oct 24
Last Checked: Oct 24 at 3:12PM
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 Gridline Properties
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Investment Insights
Based on property information with market context.
At 2135 NW 1st Avenue, this 7,375-square-foot freestanding flex property occupies a 7,860-square-foot lot. Built in 1937, the building has an open, column-free interior with polished concrete floors, architectural lighting and exposed Florida pine ceiling framing. Improvements include an indoor swimming pool, jacuzzi and living quarters with full bathrooms, showers and bathtubs. The space is fully air-conditioned and has grade-level loading doors.
The property is in Wynwood, Miami, and is zoned T5-O. Its existing configuration combines open interior space, loading access and a range of built-in amenities.
The property is in Wynwood, Miami, and is zoned T5-O. Its existing configuration combines open interior space, loading access and a range of built-in amenities.
Key Highlights
- 7,375 SF building on a 7,860 SF lot
- Freestanding property in Wynwood, Miami
- Column‑free interior with polished concrete floors and exposed Florida pine ceiling structures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$211,570
Cap Rate
3.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,231,400
$4.2M
Cap Rate 7%
$3,022,429
$3.0M
Cap Rate 9%
$2,350,778
$2.4M
Market Conditions
NOI Build-Up for 7,375 SF
Gross rent
$331.9K $45.00/SF
− Vacancy
−$49.8K −$6.75/SF
EGI
$282.1K $38.25/SF
− OpEx
−$70.5K −$9.56/SF
NOI
$211.6K $28.69/SF
Area
Miami, FL
Vacancy
15.00%
Lease Rate
$45.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,231,400
Cap Rate 7%
$3,022,429
Cap Rate 9%
$2,350,778
Alternative Uses
Best Use
Office B
$3.02M
$2.64M – $3.53M
NOI $211,570 @ 7.0% cap · market cap 3.18%
Second Best
Warehouse
$1.72M
$1.50M – $2.01M
NOI $120,312 @ 7.0% cap · market cap 1.81%
Theoretical Best
Specialty Retail
$4.98M
$4.36M – $5.81M
NOI $348,472 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
7,105
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Miami, FL
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Frequently Asked Questions
What type of property is this?
Flex space - A column-free, fully air-conditioned interior pairs substantial studio improvements with grade-level loading access.
Where is this flex space located?
The property is located at 2135 NW 1st Avenue Miami, FL.
What is the asking price?
The asking price for this property is $6,650,000.
What are key features of this property?
This property features: 7,375 SF building on a 7,860 SF lot; Freestanding property in Wynwood, Miami; Column‑free interior with polished concrete floors and exposed Florida pine ceiling structures
