Mixed-Use Development
For Sale
$15,000,000
2814 SW 37th Avenue, Miami, FL 33133
Seven side-by-side properties on Douglas Rd offer approved plans for an eight-story mixed-use building with condo apartments.
Property Size121,789 SF
Price / SF$357.14
Days on Market194
Property Features for 2814 SW 37th Avenue
General Information
Standard status
Active
Size
121,789 SF
Property subtype
Mixed Use
Zoning
T5-0 +3
Additional Details
Road Access
Yes
Multifamily Units
135
Building Details
Building Size
121,789 SF
Year Built
1957
Stories
8
Listing Agency:
Realty Group of Miami, LLC
Listed By:
Roger Pardo · License #3120916
(786) 200-4509
Source:
Silverleafrealtygroup
Added: Mar 30
Changed: Sep 30
Last Checked: Oct 7 at 3:55PM
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 Realty Group of Miami, LLC
Investment Insights
Based on property information with market context.
This sale includes a portfolio of seven side-by-side properties assembled on a corner-lot configuration with large frontage on Douglas Rd. The combined offering is described as totaling 42,000 square feet, with zoning identified as T5-0 plus 3, which is described as authorized for eight stories. Included in the sale are floor plans approved for an eight-story mixed-use building, featuring three stories of parking and five stories containing 135 condo apartments.
The portfolio is positioned on Douglas Rd, across from the renovated “Douglas Park.” The public remarks list the participating addresses as 3700 SW 28th St, 2810 SW 37th Ave, 2814 SW 37th Ave, 2816 SW 37th Ave, 2824 SW 37th Ave, 2828 SW 37th Ave, and 2812 SW 37h Ave. The surrounding area is noted between Coral Gables, Coconut Grove, and Miami International Airport.
Separately identified, each parcel is part of the assembled development site intended for a mixed-use, eight-story concept under the referenced approved plans.
The portfolio is positioned on Douglas Rd, across from the renovated “Douglas Park.” The public remarks list the participating addresses as 3700 SW 28th St, 2810 SW 37th Ave, 2814 SW 37th Ave, 2816 SW 37th Ave, 2824 SW 37th Ave, 2828 SW 37th Ave, and 2812 SW 37h Ave. The surrounding area is noted between Coral Gables, Coconut Grove, and Miami International Airport.
Separately identified, each parcel is part of the assembled development site intended for a mixed-use, eight-story concept under the referenced approved plans.
Key Highlights
- Portfolio of 7 side‑by‑side properties on Douglas Rd with approved plans for an 8‑story mixed‑use building
- Zoning T5‑0 +3 authorizes up to 8 stories for development at the assembled corner lots
- Approved structure includes 3 stories of parking and 5 stories with 135 condo apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$992,250
Cap Rate
6.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$19,845,000
$19.8M
Cap Rate 7%
$14,175,000
$14.2M
Cap Rate 9%
$11,025,000
$11.0M
Market Conditions
NOI Build-Up for 42,000 SF
Gross rent
$1.76M $42.00/SF
− Vacancy
−$176.4K −$4.20/SF
EGI
$1.59M $37.80/SF
− OpEx
−$595.4K −$14.18/SF
NOI
$992.3K $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%
$19,845,000
Cap Rate 7%
$14,175,000
Cap Rate 9%
$11,025,000
Alternative Uses
Best Use
Mixed Use
$14.17M
$12.40M – $16.54M
NOI $992,250 @ 7.0% cap · market cap 6.62%
Second Best
Apartment 5plus
$11.08M
$9.70M – $12.93M
NOI $775,883 @ 7.0% cap · market cap 5.17%
Theoretical Best
Specialty Retail
$28.35M
$24.81M – $33.08M
NOI $1,984,519 @ 7.0% cap · market cap 13.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
135
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,488
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Seven side-by-side properties on Douglas Rd offer approved plans for an eight-story mixed-use building with condo apartments.
Where is this apartment building located?
The property is located at 2814 SW 37th Avenue Miami, FL.
What is the asking price?
The asking price for this property is $15,000,000.
What are key features of this property?
This property features: Portfolio of 7 side‑by‑side properties on Douglas Rd with approved plans for an 8‑story mixed‑use building; Zoning T5‑0 +3 authorizes up to 8 stories for development at the assembled corner lots; Approved structure includes 3 stories of parking and 5 stories with 135 condo apartments
