Listing Agency: Fausto Commercial Realty Show Phone

Listed By: Ashleen Cruz · License #3555022 Show Phone

Source: Moodyscre

Added: Mar 24, 2025 Changed: Oct 26 Last Checked: Oct 28 at 8:20AM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This retail building is located on Calle Ocho and offers 1,400 square feet of recently remodeled retail space. The property includes parking in the rear. Situated between Coral Gables and West Miami, the site benefits from high traffic counts. The property's T-6-8-O mixed-use, high-density zoning makes it suitable for redevelopment.

Key Highlights

• Prime location on Calle Ocho with massive traffic counts.
• Recently remodeled 1,400 Sqft retail space.
• Mixed‑use, high‑density zoning (T‑6‑8‑O) ideal for redevelopment.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,673

Cap Rate

3.00%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$473,460 $473.5K

Cap Rate 7%

$338,186 $338.2K

Cap Rate 9%

$263,033 $263.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,400 SF

Gross rent

$37.0K $26.40/SF

− Vacancy

−$3.1K −$2.24/SF

EGI

$33.8K $24.16/SF

− OpEx

−$10.1K −$7.25/SF

NOI

$23.7K $16.91/SF

Area

Miami-Dade County, FL

Vacancy

8.50%

Lease Rate

$26.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$473,460

Cap Rate 7%

$338,186

Cap Rate 9%

$263,033

Alternative Uses

Best Use

Retail

$338.2K

$295.9K – $394.6K (±1% cap)

NOI $23,673 @ 7.0% cap · market cap 3.00%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$710.3K

$621.5K – $828.7K (±1% cap)

NOI $49,720 @ 7.0% cap · market cap 6.29%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Retail space

Suggested Use

Top Pick Parking Lot & Garage Garden Center Grocery & Convenience Store Pet Grooming Service Wine and Liquor Store Tattoo & Piercing Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,027

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Frequently Asked Questions

What type of property is this?

Retail space - Retail building on Calle Ocho with redevelopment potential.

Where is this retail space located?

The property is located at 5765-5767 SW 8th St West Miami, FL.

What is the asking price?

The asking price for this property is $790,000.

What are key features of this property?

This property features: Prime location on Calle Ocho with massive traffic counts.; Recently remodeled 1,400 Sqft retail space.; Mixed‑use, high‑density zoning (T‑6‑8‑O) ideal for redevelopment.