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    Retail and Office Shopping Center Title is generated by Realmo AI

    516 Nw 57th Ave, Miami, FL 33126

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    For Sale
    $2,199,000

    Shopping center with first-floor retail stores and second-floor offices, supported by completed 40-year recertification.

    Added:
    Jul 9, 2025
    Days on Market:
    333
    Last Refresh:
    Jun 6 at 4:06 am

    Property Features for 516 Nw 57th Ave

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Lady Sjostrom

    Listing agent Lady Sjostrom

    Listing office Florida Realty of Miami Corp

    Listing date Jul 9, 2025

    Source Exprealty

    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 Florida Realty of Miami Corp

    HighLights

    • Shopping center with 14 total units: 5 first‑floor retail stores and 9 second‑floor offices
    • Completed its 40‑year recertification, confirming structural and safety compliance
    • Retail and office property in a high‑traffic corridor about five minutes from Miami International Airport
    • Located among nationally recognized retailers including CVS, Pollo Tropical, and Wendy's

    Overview

    This shopping center offers a combined retail and office configuration, with 14 total units. The first floor features five retail stores, while the second floor includes nine office units. The property has completed its 40-Year Recertification, indicating structural and safety compliance has been addressed and providing assurance regarding building status.

    The center is described as being in a high-traffic corridor, approximately five minutes from Miami International Airport. Public remarks also indicate the property benefits from visibility and consistent vehicle flow, with nearby national retailers including CVS, Pollo Tropical, and Wendy’s.

    For tenants, the mix of street-level retail and upper-level office space supports multiple operating styles under one ownership profile. For buyers and investors, the established unit breakdown can be attractive when evaluating a shopping center structure that already includes both retail and office income opportunities, along with documented building recertification completion.
    Location Intelligence

    Current Use by Public Records

    NRG Glass Hardware Building Supply Home Tech Support Center Miami Counseling LLC Crisis Center Rio Management Group Property Management Company Seife Software Services ... (Bike/Boat/Book/etc) Store

    Suggested Use

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

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

    Similar Places Nearby

    • Bomba de aceite de leo — M Z Parts, 5706 W Flagler St, Miami, FL 33144
    • Wash Bowl Coin Laundry — 5701 NW 7th St, Miami, FL 33126
    • Flagler Plaza — 5220 W Flagler St, Coral Gables, FL 33134
    • La Caribeña Agencia Viajes - Flagler — 5402 W Flagler St, Coral Gables, FL 33134
    • Peluquería — 5755 W Flagler St, Miami, FL 33144

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.288598
    Latitude
    25.776665

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    FAQs

    What type of property is this?
    Shopping center - Shopping center with first-floor retail stores and second-floor offices, supported by completed 40-year recertification.
    Where is this shopping center located?
    The property is located at 516 Nw 57th Ave Miami, FL.
    What is the asking price?
    The asking price for this property is $2,199,000.
    What are key features of this property?
    This property features: Shopping center with 14 total units: 5 first‑floor retail stores and 9 second‑floor offices; Completed its 40‑year recertification, confirming structural and safety compliance; Retail and office property in a high‑traffic corridor about five minutes from Miami International Airport
    (786) 597-2211
    We can help!
    Listing Contact
    Lady Sjostrom
    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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