Two-Story Retail
501 NE 31st St Cu-1, Miami, FL 33137
For Sale
$5,400,000
Corner commercial unit with a private elevator and dedicated parking.
Property Size7,108 SF
Price / SF$759.71
Days on Market94
Property Features for 501 NE 31st St Cu-1
General Information
Standard status
Size
Total Parking Spaces
Elevators
Additional Details
Furnished
Corner Location
Office Units
Building Details
Year Built
Buildings
Stories
Listing Agency:
Lumer Real Estate
Listed By:
Marcela Duarte · License #3561188
(305) 776-4997
Source:
Mymiahomes
Added: Aug 6
Changed: Oct 26
Last Checked: Nov 6 at 11:44AM
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
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Investment Insights
Based on property information with market context.
This corner retail unit spans two levels totaling 7,108 SF, with 3,554 SF on each floor. The layout includes double-height exposure, extensive glass frontage, a private elevator, and 11 dedicated parking spaces. Delivered in vanilla box condition, the space allows for a customized buildout rather than an existing specialized layout.
The property is located at 501 NE 31st St Cu-1 in Miami’s Edgewater area, within the Paraiso Bayviews development. Its location provides access to Midtown, the Design District, Wynwood, Downtown Miami, and Biscayne Boulevard. The two-story configuration and flexible interior condition support retail, medical, wellness, office, showroom, educational, restaurant, and professional uses identified for the unit.
The property is located at 501 NE 31st St Cu-1 in Miami’s Edgewater area, within the Paraiso Bayviews development. Its location provides access to Midtown, the Design District, Wynwood, Downtown Miami, and Biscayne Boulevard. The two-story configuration and flexible interior condition support retail, medical, wellness, office, showroom, educational, restaurant, and professional uses identified for the unit.
Key Highlights
- 7,108 SF commercial unit arranged across two levels
- 3,554 SF per floor
- Corner unit with double‑height exposure and extensive glass frontage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$231,903
Cap Rate
4.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,638,060
$4.6M
Cap Rate 7%
$3,312,900
$3.3M
Cap Rate 9%
$2,576,700
$2.6M
Market Conditions
NOI Build-Up for 7,108 SF
Gross rent
$369.3K $51.96/SF
− Vacancy
−$38.0K −$5.35/SF
EGI
$331.3K $46.61/SF
− OpEx
−$99.4K −$13.98/SF
NOI
$231.9K $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 Rate 5%
$4,638,060
Cap Rate 7%
$3,312,900
Cap Rate 9%
$2,576,700
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.
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Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
3,176
Businesses Nearby
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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
$532,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Retail space in Miami, FL
Properties on Market for Retail space in Miami
Vacancy Rate% for Office in Miami, FL
Frequently Asked Questions
What type of property is this?
Retail space - Corner commercial unit with a private elevator and dedicated parking.
Where is this retail space located?
The property is located at 501 NE 31st St 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: 7,108 SF commercial unit arranged across two levels; 3,554 SF per floor; Corner unit with double‑height exposure and extensive glass frontage
