Two-Unit Retail
New
For Sale
$1,500,000
8051 NE 2nd Avenue, Miami, FL 33138
One of the two storefronts is vacant, while the other has an in-place tenant.
Property Size2,556 SF
Lot Size0.08 Acres
Price / SF$586.85
Days on Market2
Property Features for 8051 NE 2nd Avenue
General Information
Standard status
Active
Size
2,556 SF
Lot size
0.08 Acres
Zoning
6100
Site & Location
Neighborhood
79th Street
Highway Access
Yes
Road Access
Yes
Additional Details
Tenant in Place
Yes
Building Details
Building Size
2,556 SF
Year Built
1949
Buildings
1
Tenancy
Multi
Listing Agency:
Leoni Real Estate Corp.
Listed By:
Molli Leoni
(305) 495-1298
Source:
Laerrealty
Added: Oct 24
Last Checked: Oct 24 at 2:33PM
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 Leoni Real Estate Corp.
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Investment Insights
Based on property information with market context.
At 8051 NE 2nd Avenue, this 2,556-square-foot retail building contains two units on a 3,414-square-foot lot. One unit is vacant and the other is occupied. Built in 1949, the property fronts NE 2nd Avenue, a commercial corridor in Miami’s Little River area.
Ebb & Flow, The Citadel and Magie Wine Bar are across the street. The property also has access to NE 79th Street, Biscayne Boulevard and I-95, with the Design District, Wynwood, El Portal and Miami Shores described as minutes away.
Ebb & Flow, The Citadel and Magie Wine Bar are across the street. The property also has access to NE 79th Street, Biscayne Boulevard and I-95, with the Design District, Wynwood, El Portal and Miami Shores described as minutes away.
Key Highlights
- 2,556‑square‑foot building on a 3,414‑square‑foot lot
- Two retail units, with one vacant
- Built in 1949
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,391
Cap Rate
5.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,667,820
$1.7M
Cap Rate 7%
$1,191,300
$1.2M
Cap Rate 9%
$926,567
$926.6K
Market Conditions
NOI Build-Up for 2,556 SF
Gross rent
$132.8K $51.96/SF
− Vacancy
−$13.7K −$5.35/SF
EGI
$119.1K $46.61/SF
− OpEx
−$35.7K −$13.98/SF
NOI
$83.4K $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 Rate 5%
$1,667,820
Cap Rate 7%
$1,191,300
Cap Rate 9%
$926,567
Alternative Uses
Best Use
Retail
$1.19M
$1.04M – $1.39M
NOI $83,391 @ 7.0% cap · market cap 5.56%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.73M
$1.51M – $2.01M
NOI $120,772 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,602
Businesses Nearby
Explore this area
Business Placement
Demographics for 33138, FL
27,601
Population
14,310
Households
1.9
Avg Household Size
43
Median Age
47%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
6,572
Density / Sq Mi
$71,518
Median Household Income
$52,853
Median Earnings
$1,647
Median Rent
$686,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Miami, FL
Frequently Asked Questions
What type of property is this?
Retail space - One of the two storefronts is vacant, while the other has an in-place tenant.
Where is this retail space located?
The property is located at 8051 NE 2nd Avenue Miami, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 2,556‑square‑foot building on a 3,414‑square‑foot lot; Two retail units, with one vacant; Built in 1949
