Miami Mixed-Use Commercial
For Sale
Contact for pricing
4699 NW 27th Ave, Miami, FL 33142
High-visibility commercial building with income potential on NW 27th.
Property Size1,988 SF
Lot Size0.08 Acres
Price / SF$450.20
Days on Market178
Property Features for 4699 NW 27th Ave
General Information
Standard status
Active
Size
1,988 SF
Total Parking Spaces
6
Lot size
0.08 Acres
Property subtype
Mixed Use, Retail, Office, Industrial
Zoning
6051
Building Details
Year Built
1948
Listing Agency:
Keller Williams Elite Properties
Listed By:
Jenny Forth · License #3648372
Source:
Crexi
Added: Feb 16
Changed: Aug 8
Last Checked: Aug 11 at 3:17PM
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 Keller Williams Elite Properties
Investment Insights
Based on property information with market context.
Located on NW 27th Avenue in Miami, within the Wilson Estate subdivision, this commercial property features a one-story building with approximately 1,988 square feet on a 3,600 square foot lot. The current primary land use is Store/Retail Outlet/Warehouse. Zoned 6051 UCH Mixed Use Corridor (MC4 Max Height), the building contains two interior restrooms positioned on opposite sides, allowing for potential division into two separate retail spaces and offering income diversification. The property is currently tenant-occupied with a long-term tenant paying $4,600 per month. Located on a high-traffic main corridor, NW 27th Avenue, the property benefits from strong visibility, multiple lanes in both directions, and service by the Metrorail line, enhancing exposure and accessibility. Multiple on-site parking spaces are available, and additional parking expansion may be possible by converting the side grass area to concrete, subject to buyer verification. The zoning permits a variety of uses, including retail, auto parts, restaurant/food service, professional office, and similar commercial applications, subject to buyer verification with the city. The city may allow installation of storefront windows along the street-facing façade, subject to buyer verification. There is potential for vertical expansion (second floor), subject to city approval. The property is equipped with a surveillance camera system.
Key Highlights
- High‑traffic location on NW 27th Avenue with strong visibility and accessibility.
- Income‑generating property with long‑term tenant currently paying $4,600/month, with potential for rent increase.
- Zoning (UCH Mixed Use Corridor) permits a variety of commercial uses including retail, restaurant, and office.
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
$64,860
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
7.25%
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%
$1,297,200
$1.3M
Cap Rate 7%
$926,571
$926.6K
Cap Rate 9%
$720,667
$720.7K
Market Conditions
NOI Build-Up for 1,988 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
$103.3K $51.96/SF
− Vacancy
−$10.6K −$5.35/SF
EGI
$92.7K $46.61/SF
− OpEx
−$27.8K −$13.98/SF
NOI
$64.9K $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%
$1,297,200
Cap Rate 7%
$926,571
Cap Rate 9%
$720,667
Alternative Uses
Best Use
Retail
$926.6K
$810.8K – $1.08M
NOI $64,860 @ 7.0% cap · market cap 7.25%
Second Best
Office B
$814.7K
$712.9K – $950.5K
NOI $57,031 @ 7.0% cap · market cap 6.37%
Theoretical Best
Specialty Retail
$1.34M
$1.17M – $1.57M
NOI $93,934 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,066
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - High-visibility commercial building with income potential on NW 27th.
Where is this mixed-use property located?
The property is located at 4699 NW 27th Ave Miami, FL.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: High‑traffic location on NW 27th Avenue with strong visibility and accessibility.; Income‑generating property with long‑term tenant currently paying $4,600/month, with potential for rent increase.; Zoning (UCH Mixed Use Corridor) permits a variety of commercial uses including retail, restaurant, and office.
