Two-Story Flex Space
2824 NW 5th Ave Miami, FL 33127
2824 NW 5th Ave, Miami, FL, 33127
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For Sale
Contact for pricing
Two-story, fully air-conditioned flex building with 18-foot ceilings on the second level and total 13,000 sf.
Property Size13,719 SF
Price / SF$400.90
Days on Market124
Property Features for 2824 NW 5th Ave
General Information
- Standard status
- Active
- Size
- 13,719 SF
- Property subtype
- Industrial, Land, Mixed Use, Office, Retail
Listing Agency
Riviera Horizons
(305) 776-5345
Listed by
Fredrick Klein · License #SL 3501103
Source
Crexi
Added: Mar 20 Updated: Jul 20 at 4:49 pm Checked: Jul 20 at 4:49 pm
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 Riviera Horizons
Investment Insights
Based on property information with market context.
Located at 2824 NW 5TH AVE in Miami, this two-story flex space building offers a total of 13,000 sf evenly distributed across both floors. The second floor features 18-foot ceilings and a twin T roof, creating an open, high-clearance layout suitable for a range of showroom or retail-style concepts.
The property is fully air-conditioned, and the units are described as less than 3 years old. It is positioned for use under T5-O zoning with an NRD1 overlay, and the remarks indicate 6-story allowable height by right.
As presented, the space is configured for flexible occupancy across two levels, with the upper floor designed around its high-ceiling character.
The property is fully air-conditioned, and the units are described as less than 3 years old. It is positioned for use under T5-O zoning with an NRD1 overlay, and the remarks indicate 6-story allowable height by right.
As presented, the space is configured for flexible occupancy across two levels, with the upper floor designed around its high-ceiling character.
Key Highlights
- Two‑story, fully air‑conditioned flex building at 2824 NW 5TH AVE, Miami, FL 33127
- Total 13,000 SF evenly spread across two floors
- Second‑floor highlights include 18‑foot ceilings and a twin T roof
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $712.8k | $51.96 |
| − Vacancy | −$73.4k | −$5.35 |
| EGI | $639.4k | $46.61 |
| − OpEx | −$191.8k | −$13.98 |
| NOI | $447.6k | $32.63 |
13,719 SF · lease $51.96/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$6.39M
$5.59M – $7.46M
NOI $447,592 @ 7.0% cap · market cap 8.14%
Second Best
Flex RnD
$2.87M
$2.51M – $3.35M
NOI $201,175 @ 7.0% cap · market cap 3.66%
Theoretical Best
Specialty Retail
$9.26M
$8.10M – $10.80M
NOI $648,229 @ 7.0% cap · market cap 11.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
United Cabling - Low ...
Telecommunications Service
O Studios
Art Studio
Similar For Sale Nearby
Similar Off Market Nearby
- Constellation Culinary Group — 2151 NW 1st Ct, Miami, FL 33127
- GROAK CATERING — 1900 NE Miami Ct, Miami, FL 33132
- Dadaillecatering — 428 NW 22nd St, Miami, FL 33127
- Potions in Motion — 318 NW 23rd St, Miami, FL 33127
- Catering Brand — 1951 NW 7th Ave #600, Miami, FL 33136
FAQs
What type of property is this?
Flex space - Two-story, fully air-conditioned flex building with 18-foot ceilings on the second level and total 13,000 sf.
Where is this flex space located?
The property is located at 2824 NW 5th Ave Miami, FL.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Two‑story, fully air‑conditioned flex building at 2824 NW 5TH AVE, Miami, FL 33127; Total 13,000 SF evenly spread across two floors; Second‑floor highlights include 18‑foot ceilings and a twin T roof
