One-Story Freestanding Retail
For Sale
$1,950,000
2597 SW 37th Ave, Miami, FL 33133
Zoned T6-8-O and currently occupied by an established liquor-store operation in a one-story freestanding retail building.
Property Size2,740 SF
Lot Size0.15 Acres
Price / SF$711.68
Days on Market57
Property Features for 2597 SW 37th Ave
General Information
Standard status
Active
Size
2,740 SF
Total Parking Spaces
8
Lot size
0.15 Acres
Property subtype
Retail
Zoning
T6-8-O
Site & Location
Corner Location
Yes
Utilities to Site
Yes
Additional Details
Asking Price
$2,050,000
Taxes and HOA fees
Annual Taxes
$15,694
Building Details
Building Size
2,740 SF
Year Built
1950
Buildings
1
Stories
1
Construction
CBS/concrete-block-with-brick
Listing Agency:
FortMark, LLC
Listed By:
Daniel Hidalgo-Sandoval · License #3561017
Source:
Casacollectiongroup
Added: Jul 21
Changed: Sep 6
Last Checked: Sep 14 at 9:37AM
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 FortMark, LLC
Investment Insights
Based on property information with market context.
One-story freestanding retail storefront building on a corner lot totaling 6,325 SF, improved with a 2,740 SF CBS/concrete-block-with-brick structure. The property features central building A/C, public water and sewer service, and is currently occupied by an established liquor-store operation.
The site includes 160 feet of frontage and provides eight assigned parking spaces. Zoning is T6-8-O.
The property may support continued retail use, and it may also be evaluated for future mixed-use development, subject to independent zoning, entitlement, survey, environmental, and other due-diligence review.
The site includes 160 feet of frontage and provides eight assigned parking spaces. Zoning is T6-8-O.
The property may support continued retail use, and it may also be evaluated for future mixed-use development, subject to independent zoning, entitlement, survey, environmental, and other due-diligence review.
Key Highlights
- 2,740 SF one‑story CBS/concrete‑block‑with‑brick retail storefront building
- 6,325 SF corner lot with 160 feet of frontage
- Central building A/C, plus public water and sewer
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
$89,394
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
4.58%
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%
$1,787,880
$1.8M
Cap Rate 7%
$1,277,057
$1.3M
Cap Rate 9%
$993,267
$993.3K
Market Conditions
NOI Build-Up for 2,740 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
$142.4K $51.96/SF
− Vacancy
−$14.7K −$5.35/SF
EGI
$127.7K $46.61/SF
− OpEx
−$38.3K −$13.98/SF
NOI
$89.4K $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%
$1,787,880
Cap Rate 7%
$1,277,057
Cap Rate 9%
$993,267
Alternative Uses
Best Use
Retail
$1.28M
$1.12M – $1.49M
NOI $89,394 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.85M
$1.62M – $2.16M
NOI $129,466 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
6,779
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33133, FL
34,141
Population
17,235
Households
2
Avg Household Size
43
Median Age
62%
College-Educated
95%
High-School Grad
4.2 sq mi
ZIP Area
8,129
Density / Sq Mi
$92,734
Median Household Income
$58,233
Median Earnings
$1,945
Median Rent
$906,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Miami, FL
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Frequently Asked Questions
What type of property is this?
Storefront property - Zoned T6-8-O and currently occupied by an established liquor-store operation in a one-story freestanding retail building.
Where is this storefront property located?
The property is located at 2597 SW 37th Ave Miami, FL.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 2,740 SF one‑story CBS/concrete‑block‑with‑brick retail storefront building; 6,325 SF corner lot with 160 feet of frontage; Central building A/C, plus public water and sewer
