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    Leased Commercial Building on Le Jeune Title is generated by Realmo AI

    475 Le Jeune Road aka NW 42 Avenue, Miami, FL 33126

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    For Sale
    $3,900,000

    Fully leased commercial building on 18,270 SF lot in Miami.

    Type:Office/ Retail/ Shopping Center
    Property size:
    6,006 SF
    Lot size:
    0.42 Acres
    Price / SF:
    $649/SF
    Added:
    Mar 6, 2026
    Days on Market:
    73
    Last Refresh:
    Apr 5 at 9:05 pm

    Property Features for 475 Le Jeune Road aka NW 42 Avenue

    General Information

    Standard status
    Active
    Size
    6,006 SF
    Lot size
    0.42 Acres
    Property subtype
    Office/ Retail/ Shopping Center

    We can help!

    Listing Contact
    Dante Aleman
    Dante Aleman

    Listing agent Dante Aleman License #0697870

    Listing office Kaizen Realty Partners, LLC

    Listing date Mar 6, 2026

    Source Kaizenrealtypartners

    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 Kaizen Realty Partners, LLC

    HighLights

    • Prime location on Le Jeune Road (NW 42 Avenue) in a rapidly expanding Miami area.
    • Fully leased property provides immediate cash flow.
    • T‑6‑8 zoning allows for flexible development options, including land/multifamily development.
    • Strategic access to the forthcoming Inter Miami Freedom Stadium and Miami International Airport.
    • +/-18,270 SF lot with a +/-6,006 SF commercial building, divisible into 3‑4 units (from 1,169 SF).
    • Ideal for land/multifamily development or a stable NNN lease investment.

    Overview

    This fully leased commercial property is situated on a 18,270 square foot lot and includes a 6,006 square foot commercial building. The building currently houses office, retail, and shopping center tenants. The property is located on 475 Le Jeune Road (NW 42 Avenue) in Miami, in a rapidly expanding area. Its location provides access to the upcoming Inter Miami Stadium, Miami International Airport, and Coral Gables Downtown. The T-6-8 zoning and potential for division into 3-4 units (from 1,169 SF) enhance its development flexibility and income potential. The location provides access to Miami's dining and entertainment destinations, including the Miami Freedom Soccer Park, Brickell City Centre, and Wynwood district. Its proximity to the financial district and connectivity to Miami International Airport and the Port of Miami make it a high-yield asset. It is suited for land or multifamily development or a stable NNN lease investment.

    Financial Insights

    Value Estimation Calculated for Retail

    Conservative
    $2.18M
    NOI $195,950 @ 9.00% cap · cautious / downside scenario
    Moderate
    $2.80M
    NOI $195,950 @ 7.00% cap · market / base-case scenario
    Aggressive
    $3.92M
    NOI $195,950 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Retail

    Component $ $/SF
    Gross rent $312.1k $51.96
    − Vacancy −$32.1k −$5.35
    EGI $279.9k $46.61
    − OpEx −$84.0k −$13.98
    NOI $195.9k $32.63
    6,006 SF · lease $51.96/SF/yr · vacancy 10.30% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Retail
    $2.80M
    $2.45M – $3.27M (±1% cap)
    NOI $195,950 @ 7.0% cap · market cap 5.02%
    Second Best
    Office B
    $2.46M
    $2.15M – $2.87M (±1% cap)
    NOI $172,297 @ 7.0% cap · market cap 4.42%
    Theoretical Best
    Specialty Retail
    $4.05M
    $3.55M – $4.73M (±1% cap)
    NOI $283,786 @ 7.0% cap · market cap 7.28%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Miami Auto Wholesale Car Dealership half price vacation ... Travel Agency Connect One Auto ... Car Dealership Golden Road Rentals Car Rental Facility

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Caracas Shopping Center — 4795 SW 8th St, Miami, FL 33134
    • FlamingoMall — 3459 SW 8th St, Miami, FL 33135
    • Granada Plaza — 4801 SW 8th St, Miami, FL 33134
    • linda home center — Miami, FL 33134
    • Lidia Consulta — 3934 SW 8th St, Miami, FL 33134

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2631
    Latitude
    25.7678

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    FAQs

    What type of property is this?
    Shopping center - Fully leased commercial building on 18,270 SF lot in Miami.
    Where is this shopping center located?
    The property is located at 475 Le Jeune Road aka NW 42 Avenue Miami, FL.
    What is the asking price?
    The asking price for this property is $3,900,000.
    What are key features of this property?
    This property features: Prime location on Le Jeune Road (NW 42 Avenue) in a rapidly expanding Miami area.; Fully leased property provides immediate cash flow.; T‑6‑8 zoning allows for flexible development options, including land/multifamily development.
    (305) 500-5554
    We can help!
    Listing Contact
    Dante Aleman
    Dante Aleman
    Real Estate License ID: 0697870
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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