242 NW 12th Ave, Miami, FL 33128
Two-story mixed-use property with central A/C, on-site parking, and existing commercial/office plus multiple residential units.
- Added:
- Sep 10, 2025
- Days on Market:
- 281
- Last Refresh:
- Jun 15 at 2:52 am
Property Features for 242 NW 12th Ave
General Information
- Standard status
- Active
- Size
- 2,393 SF
- Lot size
- 0.11 Acres
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1925
Listing agent Alessandro Lima License #3404498 (305) 281-4469
Listing office Compass Florida, LLC. (305) 281-4469
Listing date Sep 10, 2025
Source Xome
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All listing content including descriptions, pricing, images are the copyrighted material of Compass Florida, LLC.
HighLights
- Two‑story mixed‑use building with approximately 2,393 sq ft of existing improvements on a 5,000 sq ft lot
- Zoned T6‑8‑O (Urban Core), offering flexibility for high‑density redevelopment such as multifamily or mixed‑use projects (subject to city approval)
- Features solid construction built in 1925, with central A/C and on‑site parking
- Existing mixed‑use configuration allows for combination of commercial/office use and multiple residential units
- Currently occupied by long‑term tenants, providing immediate revenue potential (do not disturb occupants)
- Located within Miami’s Urban Development Boundary
Overview
The building is located in Little Havana and is described as being within Miami’s Urban Development Boundary. Zoning is listed as T6-8-O (Urban Core), which provides flexibility for redevelopment and higher-density projects, including multifamily or mixed-use uses, subject to city approval.
For buyers or developers, this asset offers an income-producing hold with long-term tenants in place, while also presenting redevelopment optionality under the existing T6-8-O zoning framework. The combination of mixed-use layout, existing unit configuration, central A/C, and on-site parking can support a range of operating and renovation strategies, subject to appropriate approvals. Please do not disturb occupants.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $107.7k | $45.00 |
| − Vacancy | −$16.2k | −$6.75 |
| EGI | $91.5k | $38.25 |
| − OpEx | −$22.9k | −$9.56 |
| NOI | $68.6k | $28.69 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.21499
- Latitude
- 25.776276
