Retail Space with Two
For Sale
$1,159,999
2151 SW 8th St, 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$416.97
Days on Market271
Property Features for 2151 SW 8th St
General Information
Standard status
Active
Size
2,782 SF
Property subtype
Retail
Site & Location
Neighborhood
Shenandoah North
Taxes and HOA fees
Annual Taxes
$10,414
Building Details
Building Size
2,782 SF
Year Built
1947
Listing Agency:
Douglas Elliman
Listed By:
Miguel Solis · License #0624178
(305) 305-5232
Source:
Allyandaj
Added: Jan 27
Changed: Oct 17
Last Checked: Oct 24 at 10:20PM
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
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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 / Yr
$90,765
Cap Rate
7.82%
Suggested Prices Based on Cap Rates
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
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 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 7.82%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.88M
$1.64M – $2.19M
NOI $131,451 @ 7.0% cap · market cap 11.33%
Zoning and permitted uses should be independently verified with authorities.
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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 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 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: 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
