Mixed-Use Office and Retail
2940 Oak Ave Miami, FL 33133
2940 Oak Ave, Miami, FL, 33133
$8,995,000
For Sale
$8,995,000
Proposed four-story Class A office building with ground-floor retail and an open-air rooftop terrace.
Property Size27,556 SF
Lot Size0.15 Acres
Price / SF$326.43
Days on Market153
Property Features for 2940 Oak Ave
General Information
- Standard status
- Active
- Size
- 27,556 SF
- Lot size
- 0.15 Acres
- Property subtype
- Multi Tenant Office
Building Details
- Year Built
- 2025
Listing agency
RE/MAX 360 Real Estate
(305) 450-5992
Listed by
Agustin Duarte · License #3284824
(305) 450-5992
Source
Thebrokerlist
Added: Feb 18 Updated: Jul 21 at 2:57AM Checked: Jul 21 at 2:57AM
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 RE/MAX 360 Real Estate
Investment Insights
Based on property information with market context.
Proposed mixed-use development featuring four floors of Class A offices over ground-floor retail/commercial space. The plan includes an open-air rooftop terrace intended to provide direct views of Grove Harbor.
The site is located on the south side of Oak Avenue, between Virginia Street and Rice Street, in Coconut Grove. The property is zoned T5-O, described as an Urban Center zone.
The proposed total building area is approximately 27,556 square feet, with approximately 15,000 square feet allocated to office area (+/-). Ground floor is listed at 4,547 square feet, and the rooftop terrace area is listed at 3,436 square feet. The site size is 6,618 square feet (0.152 acres). Plans are available for review.
The site is located on the south side of Oak Avenue, between Virginia Street and Rice Street, in Coconut Grove. The property is zoned T5-O, described as an Urban Center zone.
The proposed total building area is approximately 27,556 square feet, with approximately 15,000 square feet allocated to office area (+/-). Ground floor is listed at 4,547 square feet, and the rooftop terrace area is listed at 3,436 square feet. The site size is 6,618 square feet (0.152 acres). Plans are available for review.
Key Highlights
- Proposed 27,556 SF Class A mixed‑use building with four floors of office space plus ground‑floor retail/commercial.
- Office area totals about 15,000 SF: 4,547 SF ground level and 3,436 SF rooftop open‑air terrace components.
- Open‑air rooftop terrace with direct views of Grove Harbor.
Local Financial Insights For Office B
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 | $1.24M | $45.00 |
| − Vacancy | −$186.0k | −$6.75 |
| EGI | $1.05M | $38.25 |
| − OpEx | −$263.5k | −$9.56 |
| NOI | $790.5k | $28.69 |
27,556 SF · lease $45.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Retail
$12.84M
$11.24M – $14.98M
NOI $899,033 @ 7.0% cap · market cap 9.99%
Second Best
Office B
$11.29M
$9.88M – $13.18M
NOI $790,513 @ 7.0% cap · market cap 8.79%
Theoretical Best
Specialty Retail
$18.60M
$16.28M – $21.70M
NOI $1,302,033 @ 7.0% cap · market cap 14.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Johari Inc
Hair Salon
V'HChimneycleaning Services
General Contractor
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Proposed four-story Class A office building with ground-floor retail and an open-air rooftop terrace.
Where is this mixed-use property located?
The property is located at 2940 Oak Ave Miami, FL.
What is the asking price?
The asking price for this property is $8,995,000.
What are key features of this property?
This property features: Proposed 27,556 SF Class A mixed‑use building with four floors of office space plus ground‑floor retail/commercial.; Office area totals about 15,000 SF: 4,547 SF ground level and 3,436 SF rooftop open‑air terrace components.; Open‑air rooftop terrace with direct views of Grove Harbor.
