Ground-Floor Retail Suites in Class
For Sale
$2,370,000
2820 NE 214th St Unit 5, Aventura, FL 33180
Three ground-floor retail units totaling up to 5,720 RSF are available in a Class A building with 321 parking spaces.
Property Size5,720 SF
Price / SF$414.34
Days on Market56
Property Features for 2820 NE 214th St Unit 5
General Information
Standard status
Active
Size
5,720 SF
Class
Class A
Total Parking Spaces
321
Property subtype
Mixed Use
Lease Type
NNN
Additional Details
Office Units
34
Amenities
Square Feet: 59400, Features: City Location
Sewer: Public Sanitation
Parcel Number: 28-12-34-004-1620, Tax Annual Amount: $67,500, Tax 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
Business Type: Medical Office, Retail Space, Existing Lease Type: NNN, Lease Considered, Lease Term: 1 To 3 Year Lease,4 To 6 Year Lease,7-10 Year Lease, Special Listing Conditions: Sale, Standard Status: Active
Parking Total: 9, Features: Assigned
Features: Clear Impact Glass, Complete Other Protection
Construction Materials: CBS Construction, Year Built: 2022, Year Built Details: Resale, Building Area Total: 2440, Building Name: IVORY 214, Structure Type: Medical Office
County Or Parish: Miami-Dade County, Unit Number: 5
Current Use: Commercial Lease, Leasable Area Units: Square Feet, Property Condition: New Construction
Units In Community: 3
Possession: Funding
Tenant Pays: Assessment Fees
Inclusions: Building Only,Other Sale Includes
Water Source: Public
Features: Motion Detector, Security System
Fee: $1,322, Fee Frequency: Monthly
Building Details
Year Built
2022
Tenancy
Multi
Listing Agency:
Belhouse Real Estate, LLC
(305) 921-9789
Listed By:
Ludy Moreno · License #A12058172
(954) 448-4879
Source:
Riserealty
Added: Jul 20
Changed: Sep 12
Last Checked: Sep 12 at 6:24AM
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 Belhouse Real Estate, LLC
Investment Insights
Based on property information with market context.
Three ground-floor retail spaces are available for lease or purchase within Ivory 214, including 1,610 RSF, 1,670 RSF, and 2,440 RSF (with up to 5,720 RSF available contiguous). The offering can be configured to fit smaller or larger footprints, including options to combine units for increased size.
Ivory 214 is a modern Class A building with 39,449 square feet of office and retail space, 34 professional office suites, and 321 parking spaces. The property is in the Aventura Health District at 2820 NE 214th St Unit 5, Aventura, FL 33180, positioned steps from Aventura Hospital, described as a Level II Trauma Center and a Thrombectomy-Capable Stroke Center, and surrounded by more than 300 established medical practices.
Ivory 214 is a modern Class A building with 39,449 square feet of office and retail space, 34 professional office suites, and 321 parking spaces. The property is in the Aventura Health District at 2820 NE 214th St Unit 5, Aventura, FL 33180, positioned steps from Aventura Hospital, described as a Level II Trauma Center and a Thrombectomy-Capable Stroke Center, and surrounded by more than 300 established medical practices.
Key Highlights
- Three ground‑floor retail spaces available in Ivory 214, totaling up to 5,720 RSF.
- Unit sizes: 1,610 RSF, 1,670 RSF, and 2,440 RSF; spaces can be leased or purchased individually or combined.
- Ivory 214 is a Class A mixed‑use building with 39,449 SF of office and retail 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
$96,721
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
4.08%
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%
$1,934,420
$1.9M
Cap Rate 7%
$1,381,729
$1.4M
Cap Rate 9%
$1,074,678
$1.1M
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
$151.0K $26.40/SF
− Vacancy
−$12.8K −$2.24/SF
EGI
$138.2K $24.16/SF
− OpEx
−$41.5K −$7.25/SF
NOI
$96.7K $16.91/SF
Area
Miami-Dade County, FL
Vacancy
8.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
30.00%
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%
$1,934,420
Cap Rate 7%
$1,381,729
Cap Rate 9%
$1,074,678
Alternative Uses
Best Use
Retail
$1.38M
$1.21M – $1.61M
NOI $96,721 @ 7.0% cap · market cap 4.08%
Second Best
—
—
no second resolved use
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
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Open Analytics
Current Use
Lease Details
34
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,528
Businesses Nearby
224k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 48%
Groceries 26%
Dining 25%
Shops & Services 2%
Target
Superstores
106,788 visits/mo
0.3 miles
Whole Foods Market
Groceries
57,414 visits/mo
0.3 miles
Chick-fil-A
Dining
33,840 visits/mo
0.2 miles
Texas de Brazil
Dining
9,854 visits/mo
0.4 miles
The Original Pancake House
Dining
8,027 visits/mo
0.2 miles
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 Retail in South region
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Frequently Asked Questions
What type of property is this?
Retail space - Three ground-floor retail units totaling up to 5,720 RSF are available in a Class A building with 321 parking spaces.
Where is this retail space located?
The property is located at 2820 NE 214th St Unit 5 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 spaces available in Ivory 214, totaling up to 5,720 RSF.; Unit sizes: 1,610 RSF, 1,670 RSF, and 2,440 RSF; spaces can be leased or purchased individually or combined.; Ivory 214 is a Class A mixed‑use building with 39,449 SF of office and retail and 34 professional office suites.
