Retail Space with Private
For Sale
Contact for pricing
8615 Biscayne Boulevard, Miami, FL 33138
Central air, a private bathroom, and multiple work areas support flexible commercial use.
Property Size1,400 SF
Price / SF$4.29
Days on Market17
Property Features for 8615 Biscayne Boulevard
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Retail
Additional Details
Road Access
Yes
Amenities
central air
private bathroom
multiple work areas
Building Details
Year Built
1939
Tenancy
Single
Listing Agency:
Leoni Real Estate Corp.
(305) 756-1177
Listed By:
Todd Leoni · License #0534191
(305) 300-4192
Source:
Lehmannflorida
Added: Oct 5
Changed: Oct 21
Last Checked: Oct 21 at 2:20AM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This Biscayne Boulevard commercial space has central air, a private bathroom, multiple work areas, and private on-site parking. Previously used as an insurance office, it is described as suitable for professional office, retail, service, showroom, and other commercial purposes.
The property fronts Biscayne Boulevard in Miami’s Upper East Side, where approximately 50,000+ vehicles pass daily. Its existing work areas and parking provide practical features for a range of commercial uses.
The property fronts Biscayne Boulevard in Miami’s Upper East Side, where approximately 50,000+ vehicles pass daily. Its existing work areas and parking provide practical features for a range of commercial uses.
Key Highlights
- Approximately 50,000+ vehicles pass daily on Biscayne Boulevard
- Private on‑site parking
- Central air and private bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,676
Suggested Prices Based on Cap Rates
Cap Rate 5%
$913,520
$913.5K
Cap Rate 7%
$652,514
$652.5K
Cap Rate 9%
$507,511
$507.5K
Market Conditions
NOI Build-Up for 1,400 SF
Gross rent
$72.7K $51.96/SF
− Vacancy
−$7.5K −$5.35/SF
EGI
$65.3K $46.61/SF
− OpEx
−$19.6K −$13.98/SF
NOI
$45.7K $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%
$913,520
Cap Rate 7%
$652,514
Cap Rate 9%
$507,511
Alternative Uses
Best Use
Retail
$652.5K
$571.0K – $761.3K
NOI $45,676 @ 7.0% cap · market cap 761.27%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$945.0K
$826.9K – $1.10M
NOI $66,151 @ 7.0% cap · market cap 1,102.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
17,616
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
Market
Vacancy Rate% for Retail in Miami, FL
Frequently Asked Questions
What type of property is this?
Retail space - Central air, a private bathroom, and multiple work areas support flexible commercial use.
Where is this retail space located?
The property is located at 8615 Biscayne Boulevard Miami, FL.
What are key features of this property?
This property features: Approximately 50,000+ vehicles pass daily on Biscayne Boulevard; Private on‑site parking; Central air and private bathroom
