Two-Unit Retail and Restaurant
For Sale
Contact for pricing
63 Northwest 27th Avenue, Miami, FL 33125
Two-unit retail property with a newly built front restaurant space and a back unit deliverable as vanilla shell.
Property Size5,505 SF
Lot Size0.27 Acres
Price / SF$499.55
Days on Market131
Property Features for 63 Northwest 27th Avenue
General Information
Standard status
Active
Size
5,505 SF
Lot size
0.27 Acres
Property subtype
Retail, Land
Zoning
T6-8-O
Additional Details
Grease Trap
Yes
Building Details
Units
2
Tenancy
Multi
Listing Agency:
APEX Capital Realty
Listed By:
Carl Gorman · License #3551551
(305) 323-9787
Source:
Crexi
Added: Apr 28
Changed: Aug 25
Last Checked: Sep 4 at 5:04PM
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 APEX Capital Realty
Investment Insights
Based on property information with market context.
This two-unit retail property includes a front restaurant space that was recently built and features brand-new grease traps, appliances, and updated electrical. The second, back unit can be delivered as a vanilla shell with permits closed.
The asset is located at 63–69 NW 27 Avenue in Little Havana. It offers a practical configuration for multiple concepts, with room to support food and beverage, retail, and other commercial uses.
The property includes approximately 5,000 SF of usable space within a total lot area listed at 11,800 SF, providing two distinct spaces suited for separate operations or a consolidated tenant strategy.
The asset is located at 63–69 NW 27 Avenue in Little Havana. It offers a practical configuration for multiple concepts, with room to support food and beverage, retail, and other commercial uses.
The property includes approximately 5,000 SF of usable space within a total lot area listed at 11,800 SF, providing two distinct spaces suited for separate operations or a consolidated tenant strategy.
Key Highlights
- Two‑unit retail property on NW 27 Avenue in Little Havana
- 11,800 SF lot with 5,000 SF of usable space
- Front unit recently built as a restaurant space with brand‑new grease traps, appliances, and updated electrical
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
$179,604
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
6.53%
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%
$3,592,080
$3.6M
Cap Rate 7%
$2,565,771
$2.6M
Cap Rate 9%
$1,995,600
$2.0M
Market Conditions
NOI Build-Up for 5,505 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
$286.0K $51.96/SF
− Vacancy
−$29.5K −$5.35/SF
EGI
$256.6K $46.61/SF
− OpEx
−$77.0K −$13.98/SF
NOI
$179.6K $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%
$3,592,080
Cap Rate 7%
$2,565,771
Cap Rate 9%
$1,995,600
Alternative Uses
Best Use
Specialty Retail
$3.72M
$3.25M – $4.34M
NOI $260,114 @ 7.0% cap · market cap 9.46%
Second Best
Retail
$2.57M
$2.25M – $2.99M
NOI $179,604 @ 7.0% cap · market cap 6.53%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
3,085
Businesses Nearby
Explore this area
Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
Median Home Value
Market
Vacancy Rate% for Retail in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Two-unit retail property with a newly built front restaurant space and a back unit deliverable as vanilla shell.
Where is this retail space located?
The property is located at 63 Northwest 27th Avenue Miami, FL.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Two‑unit retail property on NW 27 Avenue in Little Havana; 11,800 SF lot with 5,000 SF of usable space; Front unit recently built as a restaurant space with brand‑new grease traps, appliances, and updated electrical
