Little Havana Restaurant
For Sale
$17,999,999
2742 SW 8th St, Miami, FL 33135
Turnkey Dominican restaurant for sale in Little Havana.
Property Size42,000 SF
Days on Market315
Property Features for 2742 SW 8th St
General Information
Standard status
Active
Size
42,000 SF
Property subtype
Mixed-Use
Occupancy
100%
Amenities
40,000+ SF of Existing Improvements on 75,923 SF of Land | Rare Covered Land Opportunity in Miami's Urban Core | Generating $850,000+ NOI with all tenants on month-to-month leases .
Attractive Owner Financing Available: Seller willing to provide up to $10,000,000 in seller financing at 6% interest-only for 3 years with no prepayment penalty.
Current zoning allows, as-of-right, for a minimum of 280 residential units, excluding any additional density incentives available under the Live Local Act.
Ownership has engaged Bercow Radell Fernandez Larkin & Tapanes to complete a zoning study, available upon request to qualified buyers.
Located in the heart of Little Havana, one of Miami-Dade County's most densely populated urban submarkets, with nearly 40,000 residents within a 1-mile radius and more than 300,000 residents within 3 miles.
Owned by the same family for more than 40 years, this generational asset presents a rare opportunity to acquire a true covered land play with near-term lease rollover, allowing investors to strategically reposition, re-tenant, or redevelop the property.
Ideally positioned directly on Calle Ocho with exposure to more than 35,000 vehicles per day and catty-corner to Miami Dade College's Padrón Campus, part of one of the nation's largest college systems serving 120,000+ students annually.
The property's unique parcel configuration creates a highly efficient redevelopment opportunity, allowing for multifamily construction on the rectangular 2742 parcel while utilizing 833 SW 29th Avenue for a detached parking structure—6 potentially resulting in substantial development cost savings.
Building Details
Building Size
42,000 SF
Listing Agency:
Marcus & Millichap
Listed By:
Jonathan De La Rosa · License #License(s): FL: SL3283433
(786) 522-7027
Source:
Marcusmillichap
Added: Nov 28, 2025
Changed: Sep 10
Last Checked: Oct 7 at 8:32AM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
Located in Little Havana at 2742 SW 8th St, Millys Restaurant is an iconic Dominican establishment. The recently remodeled restaurant features a warm, nostalgic ambiance and inviting décor. It has been celebrated for its authentic Dominican fare, including mofongo, sancocho, mondongo, and churrasco, and praised for its bold flavors, generous portions, and friendly service. The restaurant has been operating since 1996, establishing strong community ties and a 30-year reputation, serving accounts such as LoanDepot Park, home of the Miami Marlins. The restaurant generates over $800,000 annually and offers flexible lease terms, presenting an ideal turnkey opportunity in a prime cultural district. This property is suitable for restaurants, retail properties, and turnkey restaurant businesses.
Key Highlights
- Generates $800K+ annually, presenting a strong revenue stream.
- Turnkey restaurant opportunity, ready for immediate operation.**
- Prime location in Little Havana, a vibrant cultural district.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,370,279
Cap Rate
7.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$27,405,580
$27.4M
Cap Rate 7%
$19,575,414
$19.6M
Cap Rate 9%
$15,225,322
$15.2M
Market Conditions
NOI Build-Up for 42,000 SF
Gross rent
$2.18M $51.96/SF
− Vacancy
−$224.8K −$5.35/SF
EGI
$1.96M $46.61/SF
− OpEx
−$587.3K −$13.98/SF
NOI
$1.37M $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 Rate 5%
$27,405,580
Cap Rate 7%
$19,575,414
Cap Rate 9%
$15,225,322
Alternative Uses
Best Use
Specialty Retail
$28.35M
$24.81M – $33.08M
NOI $1,984,519 @ 7.0% cap · market cap 11.03%
Second Best
Retail
$19.58M
$17.13M – $22.84M
NOI $1,370,279 @ 7.0% cap · market cap 7.61%
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
2,422
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Restaurant - Turnkey Dominican restaurant for sale in Little Havana.
Where is this restaurant located?
The property is located at 2742 SW 8th St Miami, FL.
What is the asking price?
The asking price for this property is $17,999,999.
What are key features of this property?
This property features: Generates $800K+ annually, presenting a strong revenue stream.; Turnkey restaurant opportunity, ready for immediate operation.**; Prime location in Little Havana, a vibrant cultural district.
