Retail Space with Two
For Sale
$1,259,999
2151 8th Street, Miami, FL 33135
Retail space zoned for retail use, currently on a month-to-month lease, with private offices and three restrooms.
Property Size2,782 SF
Price / SF$452.91
Days on Market246
Property Features for 2151 8th Street
General Information
Standard status
Active
Size
2,782 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$10,414
Amenities
Central Air, Electric
3
6100
City Road.
Building Details
Year Built
1947
Listing Agency:
(305) 343-9554
Listed By:
Douglas Elliman
(305) 343-9554
Source:
Xome
Added: Dec 9, 2025
Changed: Aug 12
Last Checked: Aug 12 at 3:39AM
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 Douglas Elliman
Investment Insights
Based on property information with market context.
Offered for sale is an approximately 3,000-square-foot retail space at 2151 SW 8 Street. The property is zoned for retail use and is currently occupied on a month-to-month lease, with the space presently utilized for religious purposes. Interior features include two private offices and three individual restrooms.
The space can be divided into two separate units, each with its own door and FPL meters, with about 1,400 square feet per unit. The offering includes flexibility for an owner-user or investor, and the property is described as easy to show with notice.
This retail configuration supports multiple-use layouts within the same overall asset, while maintaining two distinct entries and separate meter setups.
The space can be divided into two separate units, each with its own door and FPL meters, with about 1,400 square feet per unit. The offering includes flexibility for an owner-user or investor, and the property is described as easy to show with notice.
This retail configuration supports multiple-use layouts within the same overall asset, while maintaining two distinct entries and separate meter setups.
Key Highlights
- Approximately 3,000 SF retail space at 2151 SW 8 Street on iconic Calle Ocho
- Zoned for retail use and currently occupied on a month‑to‑month lease (religious use)
- Can be divided into two separate units with 2 separate doors and FPL meters
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
$90,765
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
7.20%
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%
$1,815,300
$1.8M
Cap Rate 7%
$1,296,643
$1.3M
Cap Rate 9%
$1,008,500
$1.0M
Market Conditions
NOI Build-Up for 2,782 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
$144.6K $51.96/SF
− Vacancy
−$14.9K −$5.35/SF
EGI
$129.7K $46.61/SF
− OpEx
−$38.9K −$13.98/SF
NOI
$90.8K $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%
$1,815,300
Cap Rate 7%
$1,296,643
Cap Rate 9%
$1,008,500
Alternative Uses
Best Use
Retail
$1.30M
$1.13M – $1.51M
NOI $90,765 @ 7.0% cap · market cap 7.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.88M
$1.64M – $2.19M
NOI $131,451 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,229
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
Median Home Value
Market
Vacancy Rate% for Retail in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space zoned for retail use, currently on a month-to-month lease, with private offices and three restrooms.
Where is this retail space located?
The property is located at 2151 8th Street Miami, FL.
What is the asking price?
The asking price for this property is $1,259,999.
What are key features of this property?
This property features: Approximately 3,000 SF retail space at 2151 SW 8 Street on iconic Calle Ocho; Zoned for retail use and currently occupied on a month‑to‑month lease (religious use); Can be divided into two separate units with 2 separate doors and FPL meters
