Ground-Level Restaurant
For Sale
$7,000,000
415 NE 35th Terrace, Miami, FL 33137
Vanilla-ready ground-level restaurant space with a dedicated full-service kitchen and bar-ready zone.
Property Size2,350,000 SF
Price / SF$913.84
Days on Market34
Property Features for 415 NE 35th Terrace
General Information
Standard status
Active
Size
2,350,000 SF
Property subtype
Restaurant/Entertainment
Building Details
Building Size
2,350,000 SF
Year Built
2026
Listing Agency:
Proxy Realty Group LLC
(305) 926-9262
Listed By:
Hamlet Garcia · License #3468261
Source:
Marcelosteinmander
Added: Jul 21
Changed: Aug 23
Last Checked: Aug 23 at 2:56AM
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 Proxy Realty Group LLC
Investment Insights
Based on property information with market context.
±7,660 SF ground-level restaurant space offered as a vanilla-ready platform within a condo-hotel development. The layout includes a dedicated full-service kitchen area, a bar-ready zone designed to support food and beverage service flow, along with spacious dining and lounge seating areas.
The space is positioned for strong street visibility with direct access from the hotel lobby and porte-cochere. It is intended to support restaurant, lounge, and bar concepts, with proximity to the hotel lobby, lounge, and retail components.
Located at 415–435 NE 35th Terrace in Miami, the property is described as steps from the Design District, Wynwood, Midtown, and the waterfront.
The space is positioned for strong street visibility with direct access from the hotel lobby and porte-cochere. It is intended to support restaurant, lounge, and bar concepts, with proximity to the hotel lobby, lounge, and retail components.
Located at 415–435 NE 35th Terrace in Miami, the property is described as steps from the Design District, Wynwood, Midtown, and the waterfront.
Key Highlights
- ±7,660 SF ground‑level restaurant space in The Edgewater Hotel (415‑435 NE 35th Terrace, Miami, FL 33137)
- Vanilla‑ready delivery with dedicated full‑service kitchen area designed for food & beverage use
- Bar‑ready zone with service flow for a restaurant, lounge, and bar concept
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
$361,938
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
5.17%
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%
$7,238,760
$7.2M
Cap Rate 7%
$5,170,543
$5.2M
Cap Rate 9%
$4,021,533
$4.0M
Market Conditions
NOI Build-Up for 7,660 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
$489.9K $63.96/SF
− Vacancy
−$7.3K −$0.96/SF
EGI
$482.6K $63.00/SF
− OpEx
−$120.6K −$15.75/SF
NOI
$361.9K $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%
$7,238,760
Cap Rate 7%
$5,170,543
Cap Rate 9%
$4,021,533
Alternative Uses
Best Use
Specialty Retail
$5.17M
$4.52M – $6.03M
NOI $361,938 @ 7.0% cap · market cap 5.17%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,610
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33137, FL
25,763
Population
15,237
Households
1.7
Avg Household Size
37
Median Age
51%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
12,882
Density / Sq Mi
$82,798
Median Household Income
$53,519
Median Earnings
$2,338
Median Rent
$532,900
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
- Food trucks — 192 NE 32nd St, Miami, FL 33137
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Vanilla-ready ground-level restaurant space with a dedicated full-service kitchen and bar-ready zone.
Where is this conventional restaurant located?
The property is located at 415 NE 35th Terrace Miami, FL.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: ±7,660 SF ground‑level restaurant space in The Edgewater Hotel (415‑435 NE 35th Terrace, Miami, FL 33137); Vanilla‑ready delivery with dedicated full‑service kitchen area designed for food & beverage use; Bar‑ready zone with service flow for a restaurant, lounge, and bar concept
