Mixed-Use Building in Prime
427 Southwest 7th Street Unit 15, Miami, FL 33130
Mixed-use commercial building near Brickell with income potential.
Type:Commercial/Industrial / Income/Multi Family
Property size:
4,779 SFPrice / SF:
$596/SF- Added:
- Nov 27, 2023
- Days on Market:
- 917
- Last Refresh:
- Mar 13 at 8:20 am
Property Features for 427 Southwest 7th Street Unit 15
General Information
- Standard status
- Active
- Size
- 4,779 SF
- Property subtype
- Commercial/Industrial / Income/Multi Family
Building Details
- Year Built
- 1980
Listing agent Chiara Mittone License #3421497 (347) 228-1380
Listing office Compass (347) 228-1380
Listing date Nov 27, 2023
Source Compass
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 Compass
HighLights
- Prime location near Brickell
- Mixed‑use commercial zoning (T5‑L) allows for various business types
- Five residential units: two 3/2 units and three 2/1 units
- Recently renovated units with new roof, newer A/Cs, and impact windows/doors
- Potential for increased income as a short‑term rental property
- Plenty of parking on premises
Overview
This mixed-use commercial building is located in a prime location near Brickell. The property features five residential units, including two 3/2 units on the first floor and three 2/1 units on the second floor. The units have been recently renovated, and the building has a new roof, newer A/Cs, and impact windows and doors. There is ample parking available on the premises. Zoned T5-L, the property allows for a variety of uses, including hotel, restaurant, office, retail, religious or recreational facility, and more. Currently used as a mid-term and long-term rental property, it has the potential to generate more income as a short-term rental property. The building has good tenants and is situated in an amazing location. The property size is 4779 square feet.
Local Financial Insights For Retail
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 | $248.3k | $51.96 |
| − Vacancy | −$25.6k | −$5.35 |
| EGI | $222.7k | $46.61 |
| − OpEx | −$66.8k | −$13.98 |
| NOI | $155.9k | $32.63 |
4,779 SF · lease $51.96/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.23M
$1.95M – $2.60M
NOI $155,918 @ 7.0% cap · market cap 5.47%
Second Best
Office B
$1.96M
$1.71M – $2.28M
NOI $137,098 @ 7.0% cap · market cap 4.81%
Theoretical Best
Specialty Retail
$3.23M
$2.82M – $3.76M
NOI $225,810 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Mixed-use properties
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.207538
- Latitude
- 25.780047
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Mixed-use commercial building near Brickell with income potential.
Where is this mixed-use property located?
The property is located at 427 Southwest 7th Street Unit 15 Miami, FL.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: Prime location near Brickell; Mixed‑use commercial zoning (T5‑L) allows for various business types; Five residential units: two 3/2 units and three 2/1 units
