Vacant Restaurant Building For
8922 SW 24th St, Miami, FL 33165
For Sale
Contact for pricing
Pending
3,404 SF vacant restaurant building on 0.59 acres.
Property Size3,404 SF
Lot Size0.59 Acres
Days on Market349
Property Features for 8922 SW 24th St
General Information
Standard status
Size
Lot size
Property subtype
Lease Term
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Listing Agency:
Morgan Whitney Inc
Listed By:
Jackeline Londono · License FL #0661728
(305) 345-3738
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 8
Last Checked: May 15 at 4:37AM
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 Morgan Whitney Inc
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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.
The property features a 3,404 square foot single-tenant building situated on a 0.59-acre parcel. Previously occupied by Wendy's, the vacant building is positioned along Coral Way, a primary commercial and commuter corridor in the area. The property benefits from significant frontage and visibility, with convenient access to primary roadways, recreation areas, and numerous schools.
Key Highlights
- High‑visibility location on Coral Way, a primary commercial and commuter corridor.
- Substantial 3,404 square foot single‑tenant building.
- Large 0.59‑acre parcel of land.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$111,058
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,221,160
$2.2M
Cap Rate 7%
$1,586,543
$1.6M
Cap Rate 9%
$1,233,978
$1.2M
Market Conditions
NOI Build-Up for 3,404 SF
Gross rent
$176.9K $51.96/SF
− Vacancy
−$18.2K −$5.35/SF
EGI
$158.7K $46.61/SF
− OpEx
−$47.6K −$13.98/SF
NOI
$111.1K $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%
$2,221,160
Cap Rate 7%
$1,586,543
Cap Rate 9%
$1,233,978
Alternative Uses
Best Use
Specialty Retail
$2.30M
$2.01M – $2.68M
NOI $160,841 @ 7.0% cap
Second Best
Retail
$1.59M
$1.39M – $1.85M
NOI $111,058 @ 7.0% cap
Theoretical Best
—
—
same as Best Use
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
Current Use
Location Intelligence
Trade Area within ½ mile
1,061
Businesses Nearby
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Business Placement
Demographics for 33165, FL
54,070
Population
17,813
Households
3
Avg Household Size
47
Median Age
28%
College-Educated
82%
High-School Grad
7.5 sq mi
ZIP Area
7,209
Density / Sq Mi
$84,086
Median Household Income
$41,657
Median Earnings
$1,796
Median Rent
$476,100
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?
Drive through restaurant - 3,404 SF vacant restaurant building on 0.59 acres.
Where is this drive through restaurant located?
The property is located at 8922 SW 24th St Miami, FL.
What are key features of this property?
This property features: High‑visibility location on Coral Way, a primary commercial and commuter corridor.; Substantial 3,404 square foot single‑tenant building.; Large 0.59‑acre parcel of land.
