T6-8 Zoned Mixed-Use
2720 Southwest 37th Avenue Miami, FL 33133
New
For Sale
$5,700,000
Three fully rented mixed-use buildings on a T6-8 zoned assemblage with redevelopment feasibility for mid-rise housing.
Lot Size0.47 Acres
Days on Market5
Property Features for 2720 Southwest 37th Avenue
General Information
Standard status
Active
Lot size
0.47 Acres
Property subtype
VacantLand
Listing Agency:
Synergy Realty Advisors
(305) 297-3557
Listed By:
Andros Sarduy · License #A12052768
Source:
Commercialcafe
Added: Jul 26
Changed: Jul 27
Last Checked: Jul 30 at 2:39AM
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 Synergy Realty Advisors
Investment Insights
Based on property information with market context.
The offering is a 20,581 sf T6-8 zoned assemblage presented by Synergy Realty Advisors, consisting of three fully rented mixed-use buildings generating $18,000 per month. The feasibility study indicates multiple redevelopment pathways, including a 12-story, 120k sf concept with rooftop pool and three levels of parking, with the plan noting up to 70 units possible. A second “by right” scenario is also presented: a 96k sf, 8-story building with a rooftop pool deck and three levels of parking, with the plan noting 42 units feasible.
The T6-8 designation is described as a mid-rise zoning category for the City of Miami, allowing for apartments, storage, retail, and office uses. The remarks also indicate the site is near Coral Gables Hospital, which is described as a potential fit for medical use, and the seller would be open to staying as an anchor tenant in a new medical tower.
The property is available on its own or together with an adjacent block to the south, according to the provided remarks.
The T6-8 designation is described as a mid-rise zoning category for the City of Miami, allowing for apartments, storage, retail, and office uses. The remarks also indicate the site is near Coral Gables Hospital, which is described as a potential fit for medical use, and the seller would be open to staying as an anchor tenant in a new medical tower.
The property is available on its own or together with an adjacent block to the south, according to the provided remarks.
Key Highlights
- 20,581 SF T6‑8 zoned assemblage on Douglas Road at the edge of Coral Gables
- Three fully rented mixed‑use buildings generating $18,000/month
- Redevelopment feasibility: up to 70 units in a proposed 120,000 SF, 12‑story building with rooftop pool and three levels of parking
Financial Insights For Retail
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 | $351.3k | $51.96 |
| − Vacancy | −$36.2k | −$5.35 |
| EGI | $315.1k | $46.61 |
| − OpEx | −$94.5k | −$13.98 |
| NOI | $220.6k | $32.63 |
6,761 SF · lease $51.96/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.15M
$2.76M – $3.68M
NOI $220,582 @ 7.0% cap · market cap 3.87%
Second Best
Mixed Use
$2.28M
$2.00M – $2.66M
NOI $159,729 @ 7.0% cap · market cap 2.80%
Theoretical Best
Specialty Retail
$4.56M
$3.99M – $5.32M
NOI $319,460 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three fully rented mixed-use buildings on a T6-8 zoned assemblage with redevelopment feasibility for mid-rise housing.
Where is this mixed-use property located?
The property is located at 2720 Southwest 37th Avenue Miami, FL.
What is the asking price?
The asking price for this property is $5,700,000.
What are key features of this property?
This property features: 20,581 SF T6‑8 zoned assemblage on Douglas Road at the edge of Coral Gables; Three fully rented mixed‑use buildings generating $18,000/month; Redevelopment feasibility: up to 70 units in a proposed 120,000 SF, 12‑story building with rooftop pool and three levels of parking
