Wynwood Retail and Restaurant
For Sale
Contact for pricing
250 NW 24th St, Miami, FL 33127
Fully occupied retail building with two F&B tenants and a weighted average lease term of 7.88 years.
Property Size3,523 SF
Price / SF$1,567
Days on Market192
Property Features for 250 NW 24th St
General Information
Standard status
Active
Size
3,523 SF
Property subtype
Retail
Zoning
T5-O
Occupancy
100%
Lease Type
NNN
Investment Type
Core+
Net Operating Income
$301,756
Building Details
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
DWNTWN Realty Advisors
Listed By:
Tony Arellano · License #FL SL3132321
(305) 909-7343
Source:
Crexi
Added: Mar 6
Changed: Sep 10
Last Checked: Sep 13 at 5:33AM
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
Investment Insights
Based on property information with market context.
This for-sale retail property is 100% occupied and leased to two food-and-beverage tenants. The portfolio has a 7.88-year weighted average lease term, with contractual base rent in place. For 2027, the NOI is listed at $303,656 in contractual base rent in place.
The property is described as being in the core Wynwood area, positioned within Miami’s arts district.
The offering is structured as a retail and restaurant-focused building with active tenancy and in-place base rent under the current leases.
The property is described as being in the core Wynwood area, positioned within Miami’s arts district.
The offering is structured as a retail and restaurant-focused building with active tenancy and in-place base rent under the current leases.
Key Highlights
- 100% occupied retail building with two F&B tenants
- 7.88‑year weighted average lease term
- 2027 NOI of $303,656 supported by contractual base rent in place
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
$166,463
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
3.02%
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%
$3,329,260
$3.3M
Cap Rate 7%
$2,378,043
$2.4M
Cap Rate 9%
$1,849,589
$1.8M
Market Conditions
NOI Build-Up for 3,523 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
$225.3K $63.96/SF
− Vacancy
−$3.4K −$0.96/SF
EGI
$222.0K $63.00/SF
− OpEx
−$55.5K −$15.75/SF
NOI
$166.5K $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%
$3,329,260
Cap Rate 7%
$2,378,043
Cap Rate 9%
$1,849,589
Alternative Uses
Best Use
Specialty Retail
$2.38M
$2.08M – $2.77M
NOI $166,463 @ 7.0% cap · market cap 3.02%
Second Best
Retail
$1.64M
$1.44M – $1.92M
NOI $114,940 @ 7.0% cap · market cap 2.08%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
6,248
Businesses Nearby
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
Check the figures for this property
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Market
Vacancy Rate% for Retail in Miami, FL
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Frequently Asked Questions
What type of property is this?
Retail space - Fully occupied retail building with two F&B tenants and a weighted average lease term of 7.88 years.
Where is this retail space located?
The property is located at 250 NW 24th St Miami, FL.
What is the asking price?
The asking price for this property is $5,521,000.
What are key features of this property?
This property features: 100% occupied retail building with two F&B tenants; 7.88‑year weighted average lease term; 2027 NOI of $303,656 supported by contractual base rent in place
