Retail Space on Miracle
For Sale
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332 Miracle Mile, Coral Gables, FL 33134
Retail space on Miracle Mile in Coral Gables, Florida.
Property Size7,500 SF
Lot Size0.21 Acres
Price / SF$8.20
Days on Market221
Property Features for 332 Miracle Mile
General Information
Standard status
Active
Size
7,500 SF
Lot size
0.21 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$121,682
Building Details
Building Size
7,500 SF
Year Built
1946
Listing Agency:
Terranova Corp
Listed By:
Mindy Mcilroy · License #3554513
(305) 970-6344
Source:
Elliman
Added: Mar 11
Changed: Oct 13
Last Checked: Oct 16 at 11:03AM
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 Terranova Corp
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Investment Insights
Based on property information with market context.
This retail space, encompassing 2948 square feet, is situated on Miracle Mile in Coral Gables, Florida. The space features high ceilings and a 19-foot frontage on the shopping and dining street. The location at 332 Miracle Mile benefits from significant daytime traffic, driven by the surrounding office buildings and an affluent residential community.
Key Highlights
- Located on the famous Miracle Mile in Coral Gables.
- 2948 SF retail space.
- Boasts 19 feet of frontage on Miracle Mile.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,848
Suggested Prices Based on Cap Rates
Cap Rate 5%
$996,960
$997.0K
Cap Rate 7%
$712,114
$712.1K
Cap Rate 9%
$553,867
$553.9K
Market Conditions
NOI Build-Up for 2,948 SF
Gross rent
$77.8K $26.40/SF
− Vacancy
−$6.6K −$2.24/SF
EGI
$71.2K $24.16/SF
− OpEx
−$21.4K −$7.25/SF
NOI
$49.8K $16.91/SF
Area
Miami-Dade County, FL
Vacancy
8.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$996,960
Cap Rate 7%
$712,114
Cap Rate 9%
$553,867
Alternative Uses
Best Use
Retail
$712.1K
$623.1K – $830.8K
NOI $49,848 @ 7.0% cap · market cap 206.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.50M
$1.31M – $1.74M
NOI $104,695 @ 7.0% cap · market cap 433.02%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
8,595
Businesses Nearby
Explore this area
Business Placement
Demographics for 33134, FL
38,739
Population
18,136
Households
2.1
Avg Household Size
46
Median Age
54%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
7,450
Density / Sq Mi
$92,009
Median Household Income
$56,392
Median Earnings
$1,818
Median Rent
$660,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - Retail space on Miracle Mile in Coral Gables, Florida.
Where is this retail space located?
The property is located at 332 Miracle Mile Coral Gables, FL.
What are key features of this property?
This property features: Located on the famous Miracle Mile in Coral Gables.; 2948 SF retail space.; Boasts 19 feet of frontage on Miracle Mile.
