Fully Stabilized Kitchen
5955 NE 2nd Ave Miami, FL 33137
For Sale
$5,756,215
Fully renovated commercial kitchen building with two independent suites and dedicated kitchen exhaust systems.
Property Size5,000 SF
Price / SF$1,151
Days on Market91
Property Features for 5955 NE 2nd Ave
General Information
- Standard status
- Active
- Size
- 5,000 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 1971
Listing Agency:
Gridline Properties
(786) 325-5647
Listed By:
Alfredo Riascos · License #3210686
(786) 325-5647
Source:
Elliman
Added: Apr 24
Changed: Jul 23
Last Checked: Jul 23 at 11:00AM
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 Gridline Properties
Investment Insights
Based on property information with market context.
5955–5957 NE 2nd Avenue is a fully stabilized commercial kitchen property built for high-volume food production and delivery. The building was fully renovated in 2024 and includes two independent kitchen suites, designed to operate autonomously.
Each suite is equipped with a 28-foot hood system, three walk-in coolers, and a dedicated grease trap. The property also features independent utility meters and commercial-grade infrastructure for each suite.
As an NNN property, tenants maintain major systems under required service agreements, including HVAC, hood, fire suppression, and grease management. The available information also notes that the leases include a management fee.
Each suite is equipped with a 28-foot hood system, three walk-in coolers, and a dedicated grease trap. The property also features independent utility meters and commercial-grade infrastructure for each suite.
As an NNN property, tenants maintain major systems under required service agreements, including HVAC, hood, fire suppression, and grease management. The available information also notes that the leases include a management fee.
Key Highlights
- ±5,000 SF commercial kitchen building (built 1971) fully renovated in 2024
- Two independent kitchen suites designed for high‑volume food production and delivery
- Each suite has a 28‑foot hood system plus three walk‑in coolers and a dedicated grease trap
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $319.8k | $63.96 |
| − Vacancy | −$4.8k | −$0.96 |
| EGI | $315.0k | $63.00 |
| − OpEx | −$78.8k | −$15.75 |
| NOI | $236.3k | $47.25 |
5,000 SF · lease $63.96/SF/yr · vacancy 1.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$3.38M
$2.95M – $3.94M
NOI $236,252 @ 7.0% cap · market cap 4.10%
Second Best
Industrial
$959.6K
$839.7K – $1.12M
NOI $67,173 @ 7.0% cap · market cap 1.17%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Commercial kitchens
FAQs
What type of property is this?
Commercial kitchen - Fully renovated commercial kitchen building with two independent suites and dedicated kitchen exhaust systems.
Where is this commercial kitchen located?
The property is located at 5955 NE 2nd Ave Miami, FL.
What is the asking price?
The asking price for this property is $5,756,215.
What are key features of this property?
This property features: ±5,000 SF commercial kitchen building (built 1971) fully renovated in 2024; Two independent kitchen suites designed for high‑volume food production and delivery; Each suite has a 28‑foot hood system plus three walk‑in coolers and a dedicated grease trap
