Ground-Floor Retail
For Sale
$2,370,000
2820 NE 214th St, Aventura, FL 33180
Commercial Sale, Aventura, FL
Property Size39,449 SF
Lot Size1.36 Acres
Price / SF$414.34
Days on Market57
Property Features for 2820 NE 214th St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
6800
Parking
9
Parking features
Assigned
Security features
Security System
Lot features
Flood Zone
Subdivision
12
Standard status
Active
APN
28-12-34-004-1620
Lot size
1.36 Acres
Taxes and HOA fees
Tax Description
HALLANDALE PARK PB 12-37 LOTS 1 THRU 10 BLK 38 & LOTS 3 THRU 5 BLK 37 PER UNITY OF TITLE OR LOT SIZE 5140 SQ FT
Tax Annual Amount
67500
HOA Fee
$1,322 Monthly
Legal Description
HALLANDALE PARK PB 12-37 LOTS 1 THRU 10 BLK 38 & LOTS 3 THRU 5 BLK 37 PER UNITY OF TITLE OR LOT SIZE 5140 SQ FT
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2022
Number of units
3
Building materials
CBSConcreteBlockStructure, Block
Listing Agency:
Belhouse Real Estate, LLC
(305) 921-9789
Listed By:
Ludy Moreno · License #3271925
(954) 448-4879
Added: Aug 10
Changed: Oct 4
Last Checked: Oct 5 at 12:06PM
MLS# A12056760
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Three ground-level retail units are available within Ivory 214, a mixed-use office and retail property completed in 2022. The spaces measure 1,610 RSF, 1,670 RSF and 2,440 RSF; they may be purchased individually or combined into 5,720 RSF of contiguous space. The building contains 39,449 square feet of office and retail area, 34 professional office suites and 321 parking spaces.
The property is in Aventura’s medical and professional district, near Aventura Hospital and more than 300 established medical practices. Ground-floor placement and on-site parking serve the property’s commercial setting. Public water and sewer are available.
The property is in Aventura’s medical and professional district, near Aventura Hospital and more than 300 established medical practices. Ground-floor placement and on-site parking serve the property’s commercial setting. Public water and sewer are available.
Key Highlights
- Three ground‑floor retail units: 1,610 RSF, 1,670 RSF and 2,440 RSF
- 5,720 RSF available as a contiguous space
- Ivory 214 contains 39,449 square feet of office and retail space and 34 professional office suites
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
$151,609
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
6.40%
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%
$3,032,180
$3.0M
Cap Rate 7%
$2,165,843
$2.2M
Cap Rate 9%
$1,684,544
$1.7M
Market Conditions
NOI Build-Up for 5,720 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
$260.8K $45.60/SF
− Vacancy
−$58.7K −$10.26/SF
EGI
$202.1K $35.34/SF
− OpEx
−$50.5K −$8.84/SF
NOI
$151.6K $26.51/SF
Area
Miami-Dade County, FL
Vacancy
22.50%
Lease Rate
$45.60 /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%
$3,032,180
Cap Rate 7%
$2,165,843
Cap Rate 9%
$1,684,544
Alternative Uses
Best Use
Office B
$2.17M
$1.90M – $2.53M
NOI $151,609 @ 7.0% cap · market cap 6.40%
Second Best
Mixed Use
$1.41M
$1.23M – $1.64M
NOI $98,670 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$2.90M
$2.54M – $3.39M
NOI $203,140 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,528
Businesses Nearby
Explore this area
Business Placement
Demographics for 33180, FL
35,062
Population
21,112
Households
1.7
Avg Household Size
45
Median Age
55%
College-Educated
95%
High-School Grad
3.3 sq mi
ZIP Area
10,625
Density / Sq Mi
$88,613
Median Household Income
$51,612
Median Earnings
$2,480
Median Rent
$471,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Three storefronts are offered separately or together, with flexible sizing for a range of commercial footprints.
Where is this retail space located?
The property is located at 2820 NE 214th St Aventura, FL.
What is the asking price?
The asking price for this property is $2,370,000.
What are key features of this property?
This property features: Three ground‑floor retail units: 1,610 RSF, 1,670 RSF and 2,440 RSF; 5,720 RSF available as a contiguous space; Ivory 214 contains 39,449 square feet of office and retail space and 34 professional office suites
