Corner Flex
For Sale
Contact for pricing
2829 NW 13th Ave, Miami, FL 33142
D1-zoned commercial property near Wynwood, the Design District, Downtown, and the Miami Health District.
Property Size3,223 SF
Price / SF$791.19
Days on Market160
Property Features for 2829 NW 13th Ave
General Information
Standard status
Active
Size
3,223 SF
Property subtype
Retail, Industrial
Zoning
D1
Additional Details
Corner Location
Yes
Building Details
Year Built
1963
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Chariff Realty Group Inc
(305) 576-7474
Listed By:
Luis Guevara · License #3276390
Source:
Crexi
Added: Mar 24
Changed: Aug 29
Last Checked: Aug 29 at 7:36PM
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 Chariff Realty Group Inc
Investment Insights
Based on property information with market context.
This 3,223-square-foot flex property at 2829 NW 13th Ave includes a building constructed in 1963. The asset is identified as a corner property and carries D1 zoning, providing a defined commercial-use framework for the site.
The property is in Miami, near Wynwood, the Design District, Downtown, and the Miami Health District. Its location places the building within an established urban area surrounded by several recognized commercial and institutional districts.
The property is in Miami, near Wynwood, the Design District, Downtown, and the Miami Health District. Its location places the building within an established urban area surrounded by several recognized commercial and institutional districts.
Key Highlights
- 3,223‑square‑foot flex property
- Corner location at 2829 NW 13th Ave, Miami, FL 33142
- D1 zoning
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
$105,153
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
4.12%
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%
$2,103,060
$2.1M
Cap Rate 7%
$1,502,186
$1.5M
Cap Rate 9%
$1,168,367
$1.2M
Market Conditions
NOI Build-Up for 3,223 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
$167.5K $51.96/SF
− Vacancy
−$17.2K −$5.35/SF
EGI
$150.2K $46.61/SF
− OpEx
−$45.1K −$13.98/SF
NOI
$105.2K $32.63/SF
Area
Miami, FL
Vacancy
10.30%
Lease Rate
$51.96 /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%
$2,103,060
Cap Rate 7%
$1,502,186
Cap Rate 9%
$1,168,367
Alternative Uses
Best Use
Retail
$1.50M
$1.31M – $1.75M
NOI $105,153 @ 7.0% cap · market cap 4.12%
Second Best
Flex RnD
$675.2K
$590.8K – $787.7K
NOI $47,262 @ 7.0% cap · market cap 1.85%
Theoretical Best
Specialty Retail
$2.18M
$1.90M – $2.54M
NOI $152,288 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,155
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
Median Home Value
Market
Vacancy Rate% for Industrial in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - D1-zoned commercial property near Wynwood, the Design District, Downtown, and the Miami Health District.
Where is this flex space located?
The property is located at 2829 NW 13th Ave Miami, FL.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: 3,223‑square‑foot flex property; Corner location at 2829 NW 13th Ave, Miami, FL 33142; D1 zoning
