Corner Retail Strip with Bank
For Sale
$22,000,000
275 NE 18th St CU02-CU10 CU02-CU10, Miami, FL 33132
Class A corner strip includes 10 leased retail suites, anchored by Chase Bank near Publix Supermarket.
Property Size20,000 SF
Price / SF$1,171
Days on Market58
Property Features for 275 NE 18th St CU02-CU10 CU02-CU10
General Information
Standard status
Active
Size
20,000 SF
Class
A
Property subtype
Retail
Occupancy
100%
Additional Details
Road Access
Yes
Building Details
Building Size
20,000 SF
Tenancy
Multi
Listing Agency:
Xfera Realty Group, LLC.
(305) 781-6490
Listed By:
Oreste Leccese Guerrero · License #3392288
Source:
Theelainegroup
Added: Jun 11
Changed: Jul 20
Last Checked: Jul 20 at 9:42PM
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 Xfera Realty Group, LLC.
Investment Insights
Based on property information with market context.
A Class A corner retail strip featuring 10 fully-leased retail spaces. The property is designed as a turnkey tenant mix generating existing rental income, with Chase Bank as the anchor tenant.
The center is positioned along Biscayne Boulevard in Miami’s Edgewater area, with Publix Supermarket adjacent to the property. Seller financing is available, featuring $12M cash down and a $10M note at a 6% interest rate for a 5-year term, with an option to extend up to 10 years. The location also supports retail demand with more than 10,000 residential units within a 1-mile radius.
The center is positioned along Biscayne Boulevard in Miami’s Edgewater area, with Publix Supermarket adjacent to the property. Seller financing is available, featuring $12M cash down and a $10M note at a 6% interest rate for a 5-year term, with an option to extend up to 10 years. The location also supports retail demand with more than 10,000 residential units within a 1-mile radius.
Key Highlights
- Seller financing available: $12M cash down plus a $10M note at 6% interest for a 5‑year term with option to extend up to 10 years
- 18,781 SF Class A corner retail strip on Biscayne Boulevard in Miami’s Edgewater neighborhood
- 10 fully leased retail spaces with a diverse, established tenant mix generating stable cash flow
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
$887,411
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
4.03%
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%
$17,748,220
$17.7M
Cap Rate 7%
$12,677,300
$12.7M
Cap Rate 9%
$9,860,122
$9.9M
Market Conditions
NOI Build-Up for 18,781 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
$1.20M $63.96/SF
− Vacancy
−$18.0K −$0.96/SF
EGI
$1.18M $63.00/SF
− OpEx
−$295.8K −$15.75/SF
NOI
$887.4K $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%
$17,748,220
Cap Rate 7%
$12,677,300
Cap Rate 9%
$9,860,122
Alternative Uses
Best Use
Specialty Retail
$12.68M
$11.09M – $14.79M
NOI $887,411 @ 7.0% cap · market cap 4.03%
Second Best
Retail
$8.75M
$7.66M – $10.21M
NOI $612,743 @ 7.0% cap · market cap 2.79%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5,551
Businesses Nearby
Explore this area
Business Placement
Demographics for 33132, FL
18,159
Population
12,725
Households
1.4
Avg Household Size
35
Median Age
61%
College-Educated
95%
High-School Grad
1.5 sq mi
ZIP Area
12,106
Density / Sq Mi
$109,505
Median Household Income
$71,509
Median Earnings
$2,534
Median Rent
$545,100
Median Home Value
Market
Vacancy Rate% for Retail in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Class A corner strip includes 10 leased retail suites, anchored by Chase Bank near Publix Supermarket.
Where is this strip mall located?
The property is located at 275 NE 18th St CU02-CU10 CU02-CU10 Miami, FL.
What is the asking price?
The asking price for this property is $22,000,000.
What are key features of this property?
This property features: Seller financing available: $12M cash down plus a $10M note at 6% interest for a 5‑year term with option to extend up to 10 years; 18,781 SF Class A corner retail strip on Biscayne Boulevard in Miami’s Edgewater neighborhood; 10 fully leased retail spaces with a diverse, established tenant mix generating stable cash flow
