Allapattah Auto Shop on NW
For Sale
Contact for pricing
2421 NW 27th Ave, Miami, FL 33142
Well-located auto shop with redevelopment potential in Allapattah.
Property Size3,250 SF
Price / SF$393.54
Days on Market183
Property Features for 2421 NW 27th Ave
General Information
Standard status
Active
Size
3,250 SF
Class
C
Property subtype
Industrial, Office, Retail
Zoning
T6-8-O
Building Details
Year Built
1952
Buildings
1
Listing Agency:
Fausto Commercial
Listed By:
Joshua Jimenez · License #Sl3547274
Source:
Crexi
Added: Feb 10
Changed: Aug 8
Last Checked: Jul 19 at 4:29AM
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 Fausto Commercial
Investment Insights
Based on property information with market context.
This property is an auto shop in Allapattah, offering a functional layout suitable for automotive repair, body work, detailing, tires, or related uses. It features frontage on NW 27th Avenue with a traffic count of approximately 37,500 vehicles per day. The location is near Downtown Miami, Wynwood, and Miami International Airport, with access to I-95, SR-112, and NW 36th Street. The property is zoned T6-8-O, allowing for continued automotive or light industrial use. Future retail, office, or mixed-use redevelopment of up to 8 stories and 16 units is permitted by right. The building size is 3,250 square feet. This property is suitable for an owner-user, investor, or developer.
Key Highlights
- Prime frontage on NW 27th Avenue with high traffic volume offering outstanding visibility.
- Zoned T6‑8‑O allowing for continued automotive/light industrial use or future retail, office, or mixed‑use redevelopment.
- Strategically located minutes from Downtown Miami, Wynwood, and Miami International Airport.
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
$106,033
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
8.29%
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%
$2,120,660
$2.1M
Cap Rate 7%
$1,514,757
$1.5M
Cap Rate 9%
$1,178,144
$1.2M
Market Conditions
NOI Build-Up for 3,250 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
$168.9K $51.96/SF
− Vacancy
−$17.4K −$5.35/SF
EGI
$151.5K $46.61/SF
− OpEx
−$45.4K −$13.98/SF
NOI
$106.0K $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%
$2,120,660
Cap Rate 7%
$1,514,757
Cap Rate 9%
$1,178,144
Alternative Uses
Best Use
Retail
$1.51M
$1.33M – $1.77M
NOI $106,033 @ 7.0% cap · market cap 8.29%
Second Best
Office B
$1.33M
$1.17M – $1.55M
NOI $93,234 @ 7.0% cap · market cap 7.29%
Theoretical Best
Specialty Retail
$2.19M
$1.92M – $2.56M
NOI $153,564 @ 7.0% cap · market cap 12.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,074
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Deel VW Service Dept. — 3673 Bird Rd, Miami, FL 33133
Frequently Asked Questions
What type of property is this?
Auto shop - Well-located auto shop with redevelopment potential in Allapattah.
Where is this auto shop located?
The property is located at 2421 NW 27th Ave Miami, FL.
What is the asking price?
The asking price for this property is $1,279,000.
What are key features of this property?
This property features: Prime frontage on NW 27th Avenue with high traffic volume offering outstanding visibility.; Zoned T6‑8‑O allowing for continued automotive/light industrial use or future retail, office, or mixed‑use redevelopment.; Strategically located minutes from Downtown Miami, Wynwood, and Miami International Airport.
