676 SW 1st St, Miami, FL 33130

Building Details

Building Size 3,134 SF More

Year Built 1910 More

Listing Agency: The Source Real Estate

Listed By: Ander Egurrola · License #3388802 Show Phone

Source: Vanessafrankmiami

Added: Oct 19 Changed: Nov 7 Last Checked: Nov 8 at 2:00PM

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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 The Source Real Estate

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Investment Insights

Based on property information with market context.

This 4,500-square-foot corner parcel measures 50 by 90 feet and is currently occupied by a 3,134-square-foot triplex built in 1910. The existing residential use remains in place until redevelopment. The property is zoned Miami 21 T6-12-O, Urban Core, with 12 stories permitted by right and Open intensity. Its future land-use designation is Restricted Commercial.

The site is in East Little Havana, near Brickell and Downtown Miami. It is outside a historic district and lies in flood zone AE. Buyers should confirm permitted uses and zoning details with the City of Miami.

Key Highlights

• 4,500‑square‑foot corner site measuring 50 x 90 feet
• Miami 21 T6‑12‑O, Urban Core zoning; 12 stories by right, Open intensity
• Restricted Commercial future land use

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$62,854

Cap Rate

4.83%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,257,080 $1.3M

Cap Rate 7%

$897,914 $897.9K

Cap Rate 9%

$698,378 $698.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,134 SF

Gross rent

$95.9K $30.60/SF

− Vacancy

−$6.1K −$1.95/SF

EGI

$89.8K $28.65/SF

− OpEx

−$26.9K −$8.60/SF

NOI

$62.9K $20.06/SF

Area

Miami, FL

Vacancy

6.37%

Lease Rate

$30.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,257,080

Cap Rate 7%

$897,914

Cap Rate 9%

$698,378

Alternative Uses

Best Use

Multifamily LT 5

$897.9K

$785.7K – $1.05M (±1% cap)

NOI $62,854 @ 7.0% cap · market cap 4.83%

Second Best

Apartment 5plus

$827.1K

$723.7K – $964.9K (±1% cap)

NOI $57,896 @ 7.0% cap · market cap 4.45%

Theoretical Best

Specialty Retail

$2.12M

$1.85M – $2.47M (±1% cap)

NOI $148,083 @ 7.0% cap · market cap 11.39%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Butcher Adult Day Care Buffet Veterinary Clinic Restaurant

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

5,110

Businesses Nearby

Explore this area Business Placement

Demographics for 33130, FL

35,609

Population

20,377

Households

1.7

Avg Household Size

36

Median Age

42%

College-Educated

81%

High-School Grad

1.1 sq mi

ZIP Area

32,372

Density / Sq Mi

$57,933

Median Household Income

$36,888

Median Earnings

$1,656

Median Rent

$479,800

Median Home Value

Market

Properties on Market for Commercial land in Miami

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Commercial land - Miami 21 zoning allows development up to 12 stories by right, with Open intensity.

Where is this commercial land located?

The property is located at 676 SW 1st St Miami, FL.

What is the asking price?

The asking price for this property is $1,299,999.

What are key features of this property?

This property features: 4,500‑square‑foot corner site measuring 50 x 90 feet; Miami 21 T6‑12‑O, Urban Core zoning; 12 stories by right, Open intensity; Restricted Commercial future land use