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    Edgewater Mixed-Use Development Opportunity Title is generated by Realmo AI

    2400 NE 2nd Ave, Miami, FL 33137

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    Income-producing land parcel with transformational development potential in Miami.

    Type:Office, Retail
    Property size:
    15,817 SF
    Lot size:
    0.95 Acres
    Price / SF:
    $1,043/SF
    Added:
    Feb 25, 2026
    Days on Market:
    96
    Last Refresh:
    Mar 17 at 1:16 pm

    Property Features for 2400 NE 2nd Ave

    General Information

    Standard status
    Active
    Size
    15,817 SF
    Lot size
    0.95 Acres
    Property subtype
    Office, Retail

    We can help!

    Listing Contact
    Andrew Dixon

    Listing agent Andrew Dixon License #3138883

    Listing office DWNTWN Realty Advisors

    Listing date Feb 25, 2026

    Source Crexi

    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 DWNTWN Realty Advisors

    HighLights

    • Exceptional development potential with T6‑12‑Open zoning, upside to T6‑36, allowing for high‑rise residential towers and up to 244,764 SF of buildable area.
    • Prime Edgewater location at the hard corner of NE 2nd Avenue and NE 24th Street.
    • Immediate cash flow from a fully‑leased, ±15,817 SF mixed‑use retail building generating over $750,000 in annual gross rent.
    • Rare on‑site dedicated parking amenity.
    • Exceptional location positioning with 100 feet of frontage on NE 2nd Avenue's premium commercial corridor and direct visibility from Biscayne Boulevard.
    • Four‑parcel assemblage totaling 41,472 SF.

    Overview

    A four-parcel assemblage totaling 41,472 square feet is available for sale at the corner of NE 2nd Avenue and NE 24th Street in Miami's Edgewater neighborhood. The site includes a fully-leased, approximately 15,817 square foot mixed-use retail building, which generates over $750,000 in annual gross rent. The property has 100 feet of frontage on NE 2nd Avenue's commercial corridor and visibility from Biscayne Boulevard, along with on-site dedicated parking. Zoned T6-12-Open, the site has potential for T6-36 rezoning, allowing for the development of high-rise residential towers with density ranging from 150 to 500 units. At maximum T6-36 parameters, the property allows 244,764 square feet of buildable area, enabling residential-focused development with ground-floor retail activation. This property offers a stabilized, income-producing land parcel with development optionality in a waterfront submarket.
    Property Profile Location Intelligence

    Current Use by Public Records

    Harmony Business Solutions Marketing & Advertising Lanter, Leonardo & Levy, ... Consultant Nail Culture Wynwood Nail Salon Antique Miami Furniture Home Decor Store Barber Love Barbershop Barber Shop

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.199248
    Latitude
    25.800557

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    FAQs

    What type of property is this?
    Mixed-use property - Income-producing land parcel with transformational development potential in Miami.
    Where is this mixed-use property located?
    The property is located at 2400 NE 2nd Ave Miami, FL.
    What is the asking price?
    The asking price for this property is $16,500,000.
    What are key features of this property?
    This property features: Exceptional development potential with T6‑12‑Open zoning, upside to T6‑36, allowing for high‑rise residential towers and up to 244,764 SF of buildable area.; Prime Edgewater location at the hard corner of NE 2nd Avenue and NE 24th Street.; Immediate cash flow from a fully‑leased, ±15,817 SF mixed‑use retail building generating over $750,000 in annual gross rent.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Andrew Dixon
    Real Estate License ID: 3138883
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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