Calle Ocho Retail Space
For Sale
$1,159,999
2151 SW 8th St, Miami, FL 33135
Retail space on Calle Ocho, suitable for owner-user or investor.
Property Size2,782 SF
Price / SF$386.67
Days on Market189
Property Features for 2151 SW 8th St
General Information
Standard status
Active
Size
2,782 SF
Property subtype
Commercial
Lease Term
Month-to-month
Site & Location
Neighborhood
Shenandoah North
Taxes and HOA fees
Annual Taxes
$10,414
Building Details
Building Size
2,782 SF
Year Built
1947
Stories
1
Listing Agency:
Coral Gables
Listed By:
Miguel Solis PA · License #SL624178
(305) 343-9554
Source:
Elliman
Added: Apr 24
Changed: Oct 25
Last Checked: Oct 28 at 8:44AM
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 Coral Gables
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Investment Insights
Based on property information with market context.
Located on Calle Ocho (SW 8 Street), this retail space offers a commercial opportunity in a vibrant Miami district. The property encompasses approximately 3,000 square feet and is zoned for retail use. Currently, the space is occupied on a month-to-month lease and utilized for religious purposes, providing flexibility for either an owner-user or investor. The layout includes two private offices and three individual restrooms. The space can be divided into two separate units of approximately 1,400 square feet each, with two separate doors and FPL meters. Its location provides access to Coral Gables, Coconut Grove, and the Brickell/Downtown corridor. The area has a walk score of 84, indicating it is very walkable, a bike score of 55, indicating it is bikeable, and a transit score of 45, indicating some transit options are available.
Key Highlights
- Prime location on iconic Calle Ocho (SW 8 Street)
- 3,000 sq ft retail space with flexibility for owner‑user or investor
- Zoned for retail use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$97,877
Cap Rate
8.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,957,540
$2.0M
Cap Rate 7%
$1,398,243
$1.4M
Cap Rate 9%
$1,087,522
$1.1M
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$155.9K $51.96/SF
− Vacancy
−$16.1K −$5.35/SF
EGI
$139.8K $46.61/SF
− OpEx
−$41.9K −$13.98/SF
NOI
$97.9K $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 Rate 5%
$1,957,540
Cap Rate 7%
$1,398,243
Cap Rate 9%
$1,087,522
Alternative Uses
Best Use
Retail
$1.40M
$1.22M – $1.63M
NOI $97,877 @ 7.0% cap · market cap 8.44%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.03M
$1.77M – $2.36M
NOI $141,751 @ 7.0% cap · market cap 12.22%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,552
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Miami, FL
Frequently Asked Questions
What type of property is this?
Retail space - Retail space on Calle Ocho, suitable for owner-user or investor.
Where is this retail space located?
The property is located at 2151 SW 8th St Miami, FL.
What is the asking price?
The asking price for this property is $1,159,999.
What are key features of this property?
This property features: Prime location on iconic Calle Ocho (SW 8 Street); 3,000 sq ft retail space with flexibility for owner‑user or investor; Zoned for retail use
