Ground-Floor Conventional
New
For Sale
$1,499,000
3000 Coral Way, Miami, FL 33145
Operating restaurant space includes outdoor seating, storage, and two bathrooms.
Property Size2,106 SF
Price / SF$711.78
Days on Market4
Property Features for 3000 Coral Way
General Information
Standard status
Active
Size
2,106 SF
Total Parking Spaces
3
Property subtype
General Commercial
Additional Details
Floor
Ground
Amenities
OUTDOOR SEATING
TWO BATHROOMS
STORAGE
COVERED GUEST PARKING
3 Parking Spaces.
Building Details
Year Built
2003
Tenancy
Single
Listing Agency:
Morgan Whitney Inc
(305) 672-3567
Listed By:
Jackeline Londono · License #0661728
(305) 345-3738
Source:
Xome
Added: Aug 31
Changed: Sep 2
Last Checked: Sep 2 at 1:58PM
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 Morgan Whitney Inc
Investment Insights
Based on property information with market context.
This 2,106-square-foot restaurant occupies the ground floor of a residential building and is currently leased to an operating sushi restaurant. The space includes outdoor seating, two bathrooms, and dedicated storage, with the existing restaurant use providing an established operating setup.
The property is located on Coral Way, with proximity to Brickell, Coconut Grove, and Coral Gables. The sale includes three parking spaces, along with access to covered guest parking. Built in 2003, the property combines a restaurant configuration with a location serving several established Miami-area districts.
The property is located on Coral Way, with proximity to Brickell, Coconut Grove, and Coral Gables. The sale includes three parking spaces, along with access to covered guest parking. Built in 2003, the property combines a restaurant configuration with a location serving several established Miami-area districts.
Key Highlights
- 2,106 SF ground‑floor restaurant space
- Currently leased to an operating sushi restaurant
- Outdoor seating area included
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
$99,509
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
6.64%
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%
$1,990,180
$2.0M
Cap Rate 7%
$1,421,557
$1.4M
Cap Rate 9%
$1,105,656
$1.1M
Market Conditions
NOI Build-Up for 2,106 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
$134.7K $63.96/SF
− Vacancy
−$2.0K −$0.96/SF
EGI
$132.7K $63.00/SF
− OpEx
−$33.2K −$15.75/SF
NOI
$99.5K $47.25/SF
Area
Miami, FL
Vacancy
1.50%
Lease Rate
$63.96 /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%
$1,990,180
Cap Rate 7%
$1,421,557
Cap Rate 9%
$1,105,656
Alternative Uses
Best Use
Specialty Retail
$1.42M
$1.24M – $1.66M
NOI $99,509 @ 7.0% cap · market cap 6.64%
Second Best
Retail
$981.6K
$858.9K – $1.15M
NOI $68,710 @ 7.0% cap · market cap 4.58%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,173
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33145, FL
29,737
Population
12,773
Households
2.3
Avg Household Size
44
Median Age
42%
College-Educated
85%
High-School Grad
2.5 sq mi
ZIP Area
11,895
Density / Sq Mi
$70,592
Median Household Income
$43,039
Median Earnings
$1,769
Median Rent
$560,300
Median Home Value
Market
Vacancy Rate% for Retail in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Operating restaurant space includes outdoor seating, storage, and two bathrooms.
Where is this conventional restaurant located?
The property is located at 3000 Coral Way Miami, FL.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: 2,106 SF ground‑floor restaurant space; Currently leased to an operating sushi restaurant; Outdoor seating area included
