Mixed-Use Development
3700 SW 28th St Miami, FL 33134
For Sale
$15,000,000
Seven side-by-side parcels total 42,000 sq. ft., authorized for an 8-story mixed-use development with approved floor plans.
Property Size42,000 SF
Price / SF$357.14
Days on Market115
Property Features for 3700 SW 28th St
General Information
- Standard status
- Active
- Size
- 42,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1956
Listing Agency:
(786) 200-4509
Listed By:
Roger Pardo
(786) 200-4509
Source:
Elliman
Added: Mar 31
Changed: Jul 23
Last Checked: Jul 23 at 3:38PM
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 Roger Pardo
Investment Insights
Based on property information with market context.
This for-sale development portfolio includes seven side-by-side properties with an aggregate area of 42,000 sq. ft. The offering is described as authorized for 8 stories under zoning T5-0 +3. Included in the sale are approved floor plans for an 8-story mixed-use building, consisting of 3 stories of parking and 5 stories containing 135 condo apartments.
The properties are positioned on Douglas Rd as assembled corner lots with large frontage, with “Douglas Park” described as renovated across Douglas Rd. The portfolio is located between Coral Gables and Coconut Grove, with Miami International Airport noted as nearby.
Also included in the portfolio are the following parcels: 3700 SW 28th St, 2810 SW 37th Ave, 2814 SW 37th Ave, 2816 SW 37th Ave, 2824 SW 37th Ave, 2828 SW 37th Ave, and 2828 SW 37th Ave.
The properties are positioned on Douglas Rd as assembled corner lots with large frontage, with “Douglas Park” described as renovated across Douglas Rd. The portfolio is located between Coral Gables and Coconut Grove, with Miami International Airport noted as nearby.
Also included in the portfolio are the following parcels: 3700 SW 28th St, 2810 SW 37th Ave, 2814 SW 37th Ave, 2816 SW 37th Ave, 2824 SW 37th Ave, 2828 SW 37th Ave, and 2828 SW 37th Ave.
Key Highlights
- Portfolio of 7 side‑by‑side parcels totaling 42,000 sq. ft.
- T5‑0 +3 zoning authorizes an 8‑story mixed‑use development.
- Approved floor plans included for an 8‑story building: 3 stories of parking and 5 stories of 135 condo apartments.
Financial Insights For Mixed Use
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 | $1.76M | $42.00 |
| − Vacancy | −$176.4k | −$4.20 |
| EGI | $1.59M | $37.80 |
| − OpEx | −$595.4k | −$14.18 |
| NOI | $992.3k | $23.63 |
42,000 SF · lease $42.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$14.17M
$12.40M – $16.54M
NOI $992,250 @ 7.0% cap · market cap 6.62%
Second Best
Apartment 5plus
$11.08M
$9.70M – $12.93M
NOI $775,883 @ 7.0% cap · market cap 5.17%
Theoretical Best
Specialty Retail
$28.35M
$24.81M – $33.08M
NOI $1,984,519 @ 7.0% cap · market cap 13.23%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Mixed-use properties
FAQs
What type of property is this?
Mixed-use property - Seven side-by-side parcels total 42,000 sq. ft., authorized for an 8-story mixed-use development with approved floor plans.
Where is this mixed-use property located?
The property is located at 3700 SW 28th St Miami, FL.
What is the asking price?
The asking price for this property is $15,000,000.
What are key features of this property?
This property features: Portfolio of 7 side‑by‑side parcels totaling 42,000 sq. ft.; T5‑0 +3 zoning authorizes an 8‑story mixed‑use development.; Approved floor plans included for an 8‑story building: 3 stories of parking and 5 stories of 135 condo apartments.
