Two-Story Corner Commercial
For Sale
$5,400,000
501 NE 31st St Unit CU-1, Miami, FL 33137
Two-story corner commercial unit with private elevator, double-height exposure, and dedicated parking for owner-users or tenants.
Property Size7,108 SF
Price / SF$759.71
Days on Market82
Property Features for 501 NE 31st St Unit CU-1
General Information
Standard status
Active
Size
7,108 SF
Total Parking Spaces
11
Property subtype
Retail
Building Details
Year Built
2018
Stories
2
Listing Agency:
(305) 948-9480
Listed By:
Lumer Real Estate
(305) 948-9480
Source:
Xome
Added: May 12
Changed: Jul 10
Last Checked: Jul 31 at 3:28AM
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 Lumer Real Estate
Investment Insights
Based on property information with market context.
A two-story corner commercial unit totaling 7,108 SF, configured with 3,554 SF per level. The space features prominent glass frontage and dramatic double-height exposure, along with a private elevator. It is delivered in “vanilla box” condition, providing a blank interior that can be customized to support a wide range of concepts, including retail, medical, wellness, office, showroom, educational, restaurant, or professional use. On-site parking is provided with 11 dedicated spaces.
Located at 501 NE 31st St Unit CU-1 in Miami, at Paraiso Bayviews in Edgewater, the property is positioned for strong visibility with both pedestrian and vehicle traffic referenced in the remarks. Access is described as immediate to Midtown, the Design District, Wynwood, Downtown Miami, and Biscayne Boulevard.
Offered for sale as a full two-story unit, the property is well-suited for an owner-user seeking a signature, flexible footprint across two levels. It also supports a variety of operating strategies for investors, given the delivered condition and broad range of allowable use scenarios listed in the remarks. Seller financing is available.
Located at 501 NE 31st St Unit CU-1 in Miami, at Paraiso Bayviews in Edgewater, the property is positioned for strong visibility with both pedestrian and vehicle traffic referenced in the remarks. Access is described as immediate to Midtown, the Design District, Wynwood, Downtown Miami, and Biscayne Boulevard.
Offered for sale as a full two-story unit, the property is well-suited for an owner-user seeking a signature, flexible footprint across two levels. It also supports a variety of operating strategies for investors, given the delivered condition and broad range of allowable use scenarios listed in the remarks. Seller financing is available.
Key Highlights
- Two‑story corner commercial unit totaling 7,108 SF (3,554 SF per floor) at Paraiso in Edgewater
- Private elevator for direct access between levels
- Double‑height exposure and large glass frontages with prominent street‑facing windows
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 | $369.3k | $51.96 |
| − Vacancy | −$38.0k | −$5.35 |
| EGI | $331.3k | $46.61 |
| − OpEx | −$99.4k | −$13.98 |
| NOI | $231.9k | $32.63 |
7,108 SF · lease $51.96/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.31M
$2.90M – $3.87M
NOI $231,903 @ 7.0% cap · market cap 4.29%
Second Best
Office B
$2.91M
$2.55M – $3.40M
NOI $203,911 @ 7.0% cap · market cap 3.78%
Theoretical Best
Specialty Retail
$4.80M
$4.20M – $5.60M
NOI $335,856 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,176
Businesses Nearby
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 Office in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Two-story corner commercial unit with private elevator, double-height exposure, and dedicated parking for owner-users or tenants.
Where is this retail space located?
The property is located at 501 NE 31st St Unit CU-1 Miami, FL.
What is the asking price?
The asking price for this property is $5,400,000.
What are key features of this property?
This property features: Two‑story corner commercial unit totaling 7,108 SF (3,554 SF per floor) at Paraiso in Edgewater; Private elevator for direct access between levels; Double‑height exposure and large glass frontages with prominent street‑facing windows
