Corner Flex
For Sale
$3,500,000
Pending
2428 NW 7th Ave, Miami, FL 33127
COMMERCIAL - Miami, FL
Property Size13,000 SF
Lot Size0.32 Acres
Days on Market39
Property Features for 2428 NW 7th Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
7000
Parking
7
Subdivision
31
Standard status
Pending
APN
01-31-26-011-0360
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SUNSHINE PARK PB 9-89 LOTS 21 THRU 28 BLK 6 LOT SIZE 163.00 X 83.00 OR 16218-3988 0193 4
Legal Description
SUNSHINE PARK PB 9-89 LOTS 21 THRU 28 BLK 6 LOT SIZE 163.00 X 83.00 OR 16218-3988 0193 4
Building Details
Year built
1926
Floors in Building
1
Flooring type
Concrete
Building materials
Block
Listing Agency:
Keller Williams Realty SW
(954) 237-0400
Listed By:
Stephany Buchicchio · License #3346433
(305) 283-0339
Added: Jun 30
Changed: Aug 4
Last Checked: Aug 7 at 12:06AM
MLS# A12002232
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.
This flex-space property occupies a 0.3185-acre corner lot and features a building constructed in 1926 with block construction and concrete flooring. The asset is positioned for a range of commercial applications, including manufacturing, food processing, retail, and warehouse operations. Residential use is also identified in the property information.
Located at 2428 NW 7th Ave in Miami, the property is in Miami-Dade County and sits blocks from Wynwood. Its corner placement and central Miami setting provide a defined physical presence for an operator, owner-user, or redevelopment concept consistent with the stated zoning and use parameters.
Located at 2428 NW 7th Ave in Miami, the property is in Miami-Dade County and sits blocks from Wynwood. Its corner placement and central Miami setting provide a defined physical presence for an operator, owner-user, or redevelopment concept consistent with the stated zoning and use parameters.
Key Highlights
- 0.3185‑acre corner lot in Miami‑Dade County
- 1926 construction with block materials and concrete flooring
- Zoning supports heavy and light manufacturing, food processing, retail, and warehouse uses
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
$212,075
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
6.06%
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%
$4,241,500
$4.2M
Cap Rate 7%
$3,029,643
$3.0M
Cap Rate 9%
$2,356,389
$2.4M
Market Conditions
NOI Build-Up for 13,000 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
$262.1K $20.16/SF
− Vacancy
−$12.6K −$0.97/SF
EGI
$249.5K $19.19/SF
− OpEx
−$37.4K −$2.88/SF
NOI
$212.1K $16.31/SF
Area
Miami, FL
Vacancy
4.80%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
15.00%
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%
$4,241,500
Cap Rate 7%
$3,029,643
Cap Rate 9%
$2,356,389
Alternative Uses
Best Use
Warehouse
$3.03M
$2.65M – $3.53M
NOI $212,075 @ 7.0% cap · market cap 6.06%
Second Best
Flex RnD
$2.72M
$2.38M – $3.18M
NOI $190,632 @ 7.0% cap · market cap 5.45%
Theoretical Best
Specialty Retail
$8.78M
$7.68M – $10.24M
NOI $614,256 @ 7.0% cap · market cap 17.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,803
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
Median Home Value
Market
Vacancy Rate% for Industrial in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Catering Brand — 1951 NW 7th Ave #600, Miami, FL 33136
Frequently Asked Questions
What type of property is this?
Flex space - Block construction and concrete floors support manufacturing, food processing, retail, and warehouse applications.
Where is this flex space located?
The property is located at 2428 NW 7th Ave Miami, FL.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 0.3185‑acre corner lot in Miami‑Dade County; 1926 construction with block materials and concrete flooring; Zoning supports heavy and light manufacturing, food processing, retail, and warehouse uses
