T5-L Zoned Commercial
For Sale
$890,000
5501 NW 2nd Ave, Miami, FL 33127
Land, Miami, FL
Property Size1,680 SF
Lot Size0.10 Acres
Price / SF$529.76
Days on Market79
Property Features for 5501 NW 2nd Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
6107
Subdivision
RAILWAY SHOPS ADDN 1ST AD
Lot features
<1 Acre
Standard status
Active
APN
01-31-13-059-0060
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
RAILWAY SHOPS ADDN 1ST ADDN PB 3-200 LOT 7 LESS W13FT FOR R/W BLK 1 LOT SIZE 50.00 X 86 OR 20880-0690 1202 4
Tax Annual Amount
1200
Legal Description
RAILWAY SHOPS ADDN 1ST ADDN PB 3-200 LOT 7 LESS W13FT FOR R/W BLK 1 LOT SIZE 50.00 X 86 OR 20880-0690 1202 4
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Water source
Public
Listing Agency:
Related General Realty, LLC.
(305) 932-6365
Listed By:
Carlos Guzon Michaels · License #3470654
(305) 979-6016
Added: Jun 30
Changed: Sep 2
Last Checked: Sep 16 at 4:06PM
MLS# A12005500
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial land parcel encompasses approximately 0.0987 acres, or 4,300 square feet, at 5501 NW 2nd Ave in Miami. The property carries T5-L zoning and is supported by public water and public sewer service, with cable availability also identified.
An adjacent planned corner development is described as incorporating high-end retail, a café, and destination dining. The site is positioned near Miami’s Design District and Wynwood, within the 55th St and 2nd Ave corridor. The surrounding development context and zoning designation provide a basis for evaluating future commercial or mixed-use planning, subject to applicable approvals.
An adjacent planned corner development is described as incorporating high-end retail, a café, and destination dining. The site is positioned near Miami’s Design District and Wynwood, within the 55th St and 2nd Ave corridor. The surrounding development context and zoning designation provide a basis for evaluating future commercial or mixed-use planning, subject to applicable approvals.
Key Highlights
- 4,300‑square‑foot commercial land parcel on approximately 0.0987 acres
- T5‑L zoning designation
- Public water and public sewer service
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
$39,690
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
4.46%
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%
$793,800
$793.8K
Cap Rate 7%
$567,000
$567.0K
Cap Rate 9%
$441,000
$441.0K
Market Conditions
NOI Build-Up for 1,680 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
$70.6K $42.00/SF
− Vacancy
−$7.1K −$4.20/SF
EGI
$63.5K $37.80/SF
− OpEx
−$23.8K −$14.18/SF
NOI
$39.7K $23.63/SF
Area
Miami, FL
Vacancy
10.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
37.50%
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%
$793,800
Cap Rate 7%
$567,000
Cap Rate 9%
$441,000
Alternative Uses
Best Use
Mixed Use
$567.0K
$496.1K – $661.5K
NOI $39,690 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.13M
$992.3K – $1.32M
NOI $79,381 @ 7.0% cap · market cap 8.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,092
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Commercial land - Miami parcel with public water, public sewer, and cable availability.
Where is this commercial land located?
The property is located at 5501 NW 2nd Ave Miami, FL.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: 4,300‑square‑foot commercial land parcel on approximately 0.0987 acres; T5‑L zoning designation; Public water and public sewer service
