T6-8 Zoned Mixed-Use
For Sale
$5,700,000
2720 Southwest 37th Avenue, Miami, FL 33133
Three fully rented mixed-use buildings on a T6-8 zoned assemblage with redevelopment feasibility for mid-rise housing.
Property Size6,761 SF
Lot Size0.47 Acres
Days on Market86
Property Features for 2720 Southwest 37th Avenue
General Information
Standard status
Active
Size
6,761 SF
Class
B
Lot size
0.47 Acres
Property subtype
VacantLand
Zoning
T 6 8 0
Occupancy
100%
Additional Details
Road Access
Yes
Building Details
Building Size
6,761 SF
Year Renovated
2023
Listing Agency:
Synergy Realty Advisors
Listed By:
Andros Sarduy · License #A12052768
(305) 297-3557
Source:
Commercialcafe
Added: Jul 26
Changed: Oct 14
Last Checked: Oct 19 at 4:28AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$159,729
Cap Rate
2.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,194,580
$3.2M
Cap Rate 7%
$2,281,843
$2.3M
Cap Rate 9%
$1,774,767
$1.8M
Market Conditions
NOI Build-Up for 6,761 SF
Gross rent
$284.0K $42.00/SF
− Vacancy
−$28.4K −$4.20/SF
EGI
$255.6K $37.80/SF
− OpEx
−$95.8K −$14.18/SF
NOI
$159.7K $23.63/SF
Area
Miami, FL
Vacancy
10.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,194,580
Cap Rate 7%
$2,281,843
Cap Rate 9%
$1,774,767
Alternative Uses
Best Use
Mixed Use
$2.28M
$2.00M – $2.66M
NOI $159,729 @ 7.0% cap · market cap 2.80%
Second Best
Apartment 5plus
$1.78M
$1.56M – $2.08M
NOI $124,899 @ 7.0% cap · market cap 2.19%
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.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,365
Businesses Nearby
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
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
