Two-Level Mixed-Use
For Sale
$2,199,000
516 NW 57th Ave, Miami, FL 33126
Retail and office suites occupy two floors, with stores below and offices above.
Property Size5,788 SF
Price / SF$379.92
Days on Market34
Property Features for 516 NW 57th Ave
General Information
Standard status
Active
Size
5,788 SF
Additional Details
Office Units
9
Building Details
Year Built
1974
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Florida Realty of Miami Corp
(305) 598-5488
Listed By:
Lady Sjostrom · License #3280620
Source:
Thepennteam
Added: Jul 27
Changed: Aug 28
Last Checked: Aug 28 at 8:28PM
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
Investment Insights
Based on property information with market context.
This two-story mixed-use commercial property contains 14 total units, arranged with five retail stores on the first floor and nine office units on the second floor. Built in 1974, the building has completed its 40-Year Recertification for structural and safety compliance.
The property is located at 516 NW 57th Ave in Miami, approximately five minutes from Miami International Airport. The surrounding commercial area includes CVS, Pollo Tropical, and Wendy’s, providing an established retail context for the center.
The property is located at 516 NW 57th Ave in Miami, approximately five minutes from Miami International Airport. The surrounding commercial area includes CVS, Pollo Tropical, and Wendy’s, providing an established retail context for the center.
Key Highlights
- 14 total units across retail and office uses
- Five first‑floor retail stores
- Nine second‑floor office units
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
$188,837
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
8.59%
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%
$3,776,740
$3.8M
Cap Rate 7%
$2,697,671
$2.7M
Cap Rate 9%
$2,098,189
$2.1M
Market Conditions
NOI Build-Up for 5,788 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
$300.7K $51.96/SF
− Vacancy
−$31.0K −$5.35/SF
EGI
$269.8K $46.61/SF
− OpEx
−$80.9K −$13.98/SF
NOI
$188.8K $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%
$3,776,740
Cap Rate 7%
$2,697,671
Cap Rate 9%
$2,098,189
Alternative Uses
Best Use
Retail
$2.70M
$2.36M – $3.15M
NOI $188,837 @ 7.0% cap · market cap 8.59%
Second Best
Office B
$2.37M
$2.08M – $2.77M
NOI $166,043 @ 7.0% cap · market cap 7.55%
Theoretical Best
Specialty Retail
$3.91M
$3.42M – $4.56M
NOI $273,486 @ 7.0% cap · market cap 12.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,367
Businesses Nearby
Explore this area
Business Placement
Demographics for 33126, FL
48,751
Population
19,725
Households
2.5
Avg Household Size
44
Median Age
28%
College-Educated
77%
High-School Grad
5.4 sq mi
ZIP Area
9,028
Density / Sq Mi
$55,722
Median Household Income
$32,607
Median Earnings
$1,651
Median Rent
$299,800
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 - Retail and office suites occupy two floors, with stores below and offices above.
Where is this mixed-use property 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: 14 total units across retail and office uses; Five first‑floor retail stores; Nine second‑floor office units
