Ground-Floor Retail
For Sale
$2,370,000
2820 NE 214th St, Aventura, FL 33180
COMMERCIAL - Aventura, FL
Property Size5,720 SF
Lot Size1.36 Acres
Price / SF$414.34
Days on Market10
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
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
Block
Listing Agency:
Belhouse Real Estate, LLC
(305) 921-9789
Listed By:
Ludy Moreno · License #3271925
(954) 448-4879
Added: Aug 10
Changed: Aug 19
Last Checked: Aug 19 at 11:06AM
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-floor retail suites are available within Ivory 214, a Class A mixed-use property completed in 2022. The spaces measure 1,610 RSF, 1,670 RSF, and 2,440 RSF, with 5,720 RSF available in total. Suites may be occupied separately or combined, providing flexible configuration for retail, medical services, pharmacy, wellness, café, and professional office uses identified for the property.
The building contains 39,449 square feet of office and retail space, 34 professional office suites, and 321 parking spaces. It is located at 2820 NE 214th St in Aventura, near Aventura Hospital and more than 300 established medical practices. Public water and sewer serve the property, which has block construction and assigned parking.
The building contains 39,449 square feet of office and retail space, 34 professional office suites, and 321 parking spaces. It is located at 2820 NE 214th St in Aventura, near Aventura Hospital and more than 300 established medical practices. Public water and sewer serve the property, which has block construction and assigned parking.
Key Highlights
- 5,720 RSF of contiguous ground‑floor retail space available
- Individual suites measure 1,610 RSF, 1,670 RSF, and 2,440 RSF
- Class A mixed‑use building completed in 2022
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
Property Profile
Current Use
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Flexible retail suites in a 2022 Class A mixed-use building serving Aventura’s established medical and professional corridor.
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: 5,720 RSF of contiguous ground‑floor retail space available; Individual suites measure 1,610 RSF, 1,670 RSF, and 2,440 RSF; Class A mixed‑use building completed in 2022
