Mixed-Use Property With Private
For Sale
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3119 Coral Way # 200, Miami, FL 33145
Second-floor commercial space with five private suites, attic storage, and front-facing windows beneath the Coral Way canopy.
Property Size24,000 SF
Price / SF$0.05
Days on Market51
Property Features for 3119 Coral Way # 200
General Information
Standard status
Active
Size
24,000 SF
Property subtype
Mixed Use
Site & Location
Neighborhood
Shenandoah South
Building Details
Building Size
24,000 SF
Year Built
1954
Tenancy
Multi
Listing Agency:
Urban Resource LLC
Listed By:
Daniel Veitia · License #3079893
(786) 621-1122
Source:
Allyandaj
Added: Sep 11
Changed: Oct 31
Last Checked: Oct 30 at 10:14PM
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 Urban Resource LLC
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Investment Insights
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Located at 3119 Coral Way # 200 in Miami, this second-floor mixed-use commercial property provides a finished office configuration with five private suites and a welcoming foyer. Front-facing windows look onto the Coral Way canopy, while soaring ceilings contribute to the volume of the interior. The layout can be adapted to an open loft-style arrangement, and substantial attic storage adds functional capacity for business operations.
The 24,000-square-foot property was built in 1954 and is positioned between Brickell and Coral Gables. Current anchor tenants include Ricky Bakery, Just the Funny, Siddha Yoga, and HearUSA, creating an established professional and commercial setting within the building.
The 24,000-square-foot property was built in 1954 and is positioned between Brickell and Coral Gables. Current anchor tenants include Ricky Bakery, Just the Funny, Siddha Yoga, and HearUSA, creating an established professional and commercial setting within the building.
Key Highlights
- Five private office suites arranged around a welcoming foyer
- Front‑facing windows overlook the Coral Way canopy
- Layout can be converted to an open loft‑style configuration
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$567,000
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,340,000
$11.3M
Cap Rate 7%
$8,100,000
$8.1M
Cap Rate 9%
$6,300,000
$6.3M
Market Conditions
NOI Build-Up for 24,000 SF
Gross rent
$1.01M $42.00/SF
− Vacancy
−$100.8K −$4.20/SF
EGI
$907.2K $37.80/SF
− OpEx
−$340.2K −$14.18/SF
NOI
$567.0K $23.63/SF
Area
Miami, FL
Vacancy
10.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,340,000
Cap Rate 7%
$8,100,000
Cap Rate 9%
$6,300,000
Alternative Uses
Best Use
Mixed Use
$8.10M
$7.09M – $9.45M
NOI $567,000 @ 7.0% cap · market cap 47,687.13%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$16.20M
$14.18M – $18.90M
NOI $1,134,011 @ 7.0% cap · market cap 95,375.19%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,524
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Second-floor commercial space with five private suites, attic storage, and front-facing windows beneath the Coral Way canopy.
Where is this mixed-use property located?
The property is located at 3119 Coral Way # 200 Miami, FL.
What are key features of this property?
This property features: Five private office suites arranged around a welcoming foyer; Front‑facing windows overlook the Coral Way canopy; Layout can be converted to an open loft‑style configuration
