Fully Leased Retail Center
For Sale
Contact for pricing
Pending
4000 SW 57th Ave, Miami, FL 33155
Class A retail center in Coral Gables, 100% leased.
Property Size15,115 SF
Days on Market171
Property Features for 4000 SW 57th Ave
General Information
Standard status
Pending
Size
15,115 SF
Property subtype
Retail
Occupancy
100%
Investment Type
Net Lease
Net Operating Income
$784,932
Building Details
Year Built
1946
Year Renovated
2023
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Lee & Associates - Ontario
(760) 519-0240
Listed By:
Jonathan Selznick · License #CA Broker License : 01323949
Source:
Crexi
Added: Feb 23
Changed: Aug 11
Last Checked: Aug 12 at 9:08AM
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 Lee & Associates - Ontario
Investment Insights
Based on property information with market context.
This is a fully leased, Class A multi-tenant retail center located in the Coral Gables submarket of Miami, Florida. The property is 100% occupied by seven tenants, including Cala-Millor, SoFlo Dental, and Imago Art, all on NNN leases featuring annual rent increases and staggered expirations. The property is positioned at the corner of SW 40th Street (Bird Road) and SW 57th Avenue (Red Road), with visibility to over 70,000 vehicles per day. The location is near the University of Miami (1 mile), the Coral Gables Metrorail Station (2 miles), Downtown Miami (8 miles), and Miami International Airport (7 miles). The surrounding area supports over 191,000 residents within a 3-mile radius, with an average household income of $221,000 within one mile. The property benefits from Coral Gables’ zoning and architectural standards that limit future retail supply. The Coral Gables market includes tourism, institutional employment, and high-end residential density. The location supports a variety of retail tenants due to the nearby office population, the University of Miami, and visitor traffic. The property is located within Miami’s economic area, recognized for innovation and international connectivity.
Key Highlights
- 100% leased Class A retail center in Coral Gables, a highly desirable and supply‑constrained market.
- Located at a high‑traffic, signalized hard corner with over 70,000 vehicles per day visibility.
- Stable, predictable income stream from a curated mix of seven tenants on NNN leases with annual rent increases and staggered expirations.
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
$493,137
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
3.08%
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%
$9,862,740
$9.9M
Cap Rate 7%
$7,044,814
$7.0M
Cap Rate 9%
$5,479,300
$5.5M
Market Conditions
NOI Build-Up for 15,115 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
$785.4K $51.96/SF
− Vacancy
−$80.9K −$5.35/SF
EGI
$704.5K $46.61/SF
− OpEx
−$211.3K −$13.98/SF
NOI
$493.1K $32.63/SF
Area
Miami, FL
Vacancy
10.30%
Lease Rate
$51.96 /SF/Yr
Expense Ratio
30.00%
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%
$9,862,740
Cap Rate 7%
$7,044,814
Cap Rate 9%
$5,479,300
Alternative Uses
Best Use
Retail
$7.04M
$6.16M – $8.22M
NOI $493,137 @ 7.0% cap · market cap 3.08%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$10.20M
$8.93M – $11.90M
NOI $714,191 @ 7.0% cap · market cap 4.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,360
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33155, FL
43,695
Population
16,046
Households
2.7
Avg Household Size
45
Median Age
37%
College-Educated
85%
High-School Grad
7.4 sq mi
ZIP Area
5,905
Density / Sq Mi
$79,271
Median Household Income
$41,919
Median Earnings
$1,871
Median Rent
$505,000
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.
Similar Off Market Nearby
- CAMACOL — 1200 Anastasia Ave, Coral Gables, FL 33134
- Red Bird Shopping Center — 5761 Bird Rd, Miami, FL 33155
Frequently Asked Questions
What type of property is this?
Shopping center - Class A retail center in Coral Gables, 100% leased.
Where is this shopping center located?
The property is located at 4000 SW 57th Ave Miami, FL.
What is the asking price?
The asking price for this property is $16,000,000.
What are key features of this property?
This property features: 100% leased Class A retail center in Coral Gables, a highly desirable and supply‑constrained market.; Located at a **high‑traffic, signalized hard corner** with over 70,000 vehicles per day visibility.; Stable, predictable income stream from a curated mix of seven tenants on NNN leases with annual rent increases and staggered expirations.
