Divisible Retail
For Sale
$1,159,999
2151 SW 8th St, Miami, FL 33135
SINGLE_FAMILY - Miami, FL
Property Size3,000 SF
Lot Size0.07 Acres
Price / SF$386.67
Days on Market48
Property Features for 2151 SW 8th St
General Information
Property type
Residential
Property subtype
Retail
Zoning description
6100
Security features
Security System
Subdivision
41
Standard status
Active
APN
01-41-03-020-0030
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BRYANDALE PB 9-86 LOT 7 BLK 1 & S1/2 OF ALLEY LYG N & ADJ CLOSED PER ORD 13492 LOT SIZE 3000 SQ FT M/L
Tax Annual Amount
10414
Legal Description
BRYANDALE PB 9-86 LOT 7 BLK 1 & S1/2 OF ALLEY LYG N & ADJ CLOSED PER ORD 13492 LOT SIZE 3000 SQ FT M/L
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
2 private offices
3 individual restrooms
Building Details
Year built
1947
Floors in Building
1
Listing Agency:
Douglas Elliman
(305) 695-6060
Listed By:
Miguel Solis · License #0624178
(305) 343-9554
Added: Jun 26
Changed: Aug 3
Last Checked: Aug 12 at 11:06AM
MLS# A11953243
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Offered for sale is an approximately 3,000-square-foot retail property located at 2151 SW 8th St. The space is currently occupied on a month-to-month lease and presently used for religious purposes. The layout includes two private offices and three individual restrooms, supporting a range of retail and services-focused uses. The property is designed for flexibility, with the ability to divide into two separate units, each with its own entry door and FPL meters.
Situated on iconic Calle Ocho (SW 8 Street) in Miami’s retail district, the property provides access to key nearby commercial corridors, including Coral Gables, Coconut Grove, and the Brickell/Downtown area. The asset is zoned for retail use, offering straightforward occupancy options for an owner-user or an investor.
For tenants, buyers, and operators seeking a retail footprint that can be configured for multiple users, this property’s two-door, two-meter setup is a practical fit. Month-to-month occupancy can be beneficial for planning, and the existing office and restroom count supports day-to-day operations. The space is described as easy to show with notice, and interested parties should contact the listing agent for details on available arrangements.
Situated on iconic Calle Ocho (SW 8 Street) in Miami’s retail district, the property provides access to key nearby commercial corridors, including Coral Gables, Coconut Grove, and the Brickell/Downtown area. The asset is zoned for retail use, offering straightforward occupancy options for an owner-user or an investor.
For tenants, buyers, and operators seeking a retail footprint that can be configured for multiple users, this property’s two-door, two-meter setup is a practical fit. Month-to-month occupancy can be beneficial for planning, and the existing office and restroom count supports day-to-day operations. The space is described as easy to show with notice, and interested parties should contact the listing agent for details on available arrangements.
Key Highlights
- Approximately 3,000 SF retail space at 2151 SW 8 Street on iconic Calle Ocho
- Zoned for retail use; currently occupied on a month‑to‑month lease (used for religious purposes)
- 2 private offices and 3 individual restrooms
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
$97,877
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
8.44%
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%
$1,957,540
$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
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
$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 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%
$1,957,540
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.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,552
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 with flexible month-to-month occupancy and the ability to operate as two separate units.
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; currently occupied on a month‑to‑month lease (used for religious purposes); 2 private offices and 3 individual restrooms
