Multi-Level Rooftop Hospitality
For Sale
$3,238,883
239 SW 9th St # 2401, Miami, FL 33130
Leased multi-level rooftop space at Smart Brickell with two terraces and interior AC across the 24th and 25th floors.
Property Size3,069 SF
Days on Market169
Property Features for 239 SW 9th St # 2401
General Information
Standard status
Active
Size
3,069 SF
Property subtype
Restaurant/Entertainment
Building Details
Building Size
3,069 SF
Year Built
2023
Listing Agency:
Habitat Realty LLC
Listed By:
Javier Motta · License #3265070
(786) 521-8144
Source:
Luxeknows
Added: Mar 24
Changed: Aug 31
Last Checked: Sep 7 at 6:12AM
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 Habitat Realty LLC
Investment Insights
Based on property information with market context.
Presented within the Smart Brickell development, this multi-level rooftop hospitality space spans the 24th and 25th floors. The 24th floor includes 2,189 SF of interior AC area plus 400 SF of terrace space, creating an indoor-outdoor layout designed for rooftop gatherings. The 25th floor offers 880 SF of interior AC space together with an expansive 1,728 SF rooftop terrace.
The property is located in the Brickell area within walking distance of Brickell City Centre and Mary Brickell Village, with access to major transportation corridors. The asset is currently leased on a 1-year term, offering immediate income while allowing flexibility for an end user or investor.
Combined, the rooftop experience totals 3,069 SF of AC interior space and 2,128 SF of terrace space, supporting an upscale event, lounge, or bar concept across two levels.
The property is located in the Brickell area within walking distance of Brickell City Centre and Mary Brickell Village, with access to major transportation corridors. The asset is currently leased on a 1-year term, offering immediate income while allowing flexibility for an end user or investor.
Combined, the rooftop experience totals 3,069 SF of AC interior space and 2,128 SF of terrace space, supporting an upscale event, lounge, or bar concept across two levels.
Key Highlights
- Smart Brickell leased rooftop commercial space built in 2023, located across the 24th and 25th floors.
- 24th floor offers 2,189 SF interior AC space plus 400 SF terrace space.
- 25th floor offers 880 SF interior AC space plus 1,728 SF rooftop terrace space.
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
$145,012
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
4.48%
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%
$2,900,240
$2.9M
Cap Rate 7%
$2,071,600
$2.1M
Cap Rate 9%
$1,611,244
$1.6M
Market Conditions
NOI Build-Up for 3,069 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
$196.3K $63.96/SF
− Vacancy
−$2.9K −$0.96/SF
EGI
$193.3K $63.00/SF
− OpEx
−$48.3K −$15.75/SF
NOI
$145.0K $47.25/SF
Area
Miami, FL
Vacancy
1.50%
Lease Rate
$63.96 /SF/Yr
Expense Ratio
25.00%
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%
$2,900,240
Cap Rate 7%
$2,071,600
Cap Rate 9%
$1,611,244
Alternative Uses
Best Use
Specialty Retail
$2.07M
$1.81M – $2.42M
NOI $145,012 @ 7.0% cap · market cap 4.48%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
15,952
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33130, FL
35,609
Population
20,377
Households
1.7
Avg Household Size
36
Median Age
42%
College-Educated
81%
High-School Grad
1.1 sq mi
ZIP Area
32,372
Density / Sq Mi
$57,933
Median Household Income
$36,888
Median Earnings
$1,656
Median Rent
$479,800
Median Home Value
Market
Vacancy Rate% for Retail in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Leased multi-level rooftop space at Smart Brickell with two terraces and interior AC across the 24th and 25th floors.
Where is this bar & pub located?
The property is located at 239 SW 9th St # 2401 Miami, FL.
What is the asking price?
The asking price for this property is $3,238,883.
What are key features of this property?
This property features: Smart Brickell leased rooftop commercial space built in 2023, located across the 24th and 25th floors.; 24th floor offers 2,189 SF interior AC space plus 400 SF terrace space.; 25th floor offers 880 SF interior AC space plus 1,728 SF rooftop terrace space.
