Modern Multi-Storefront Shopping
For Sale
$1,780,000
9150 Northwest 22nd Avenue, Miami, FL 33147
2017-built shopping center with four storefronts, high ceilings, and 17 parking spaces, fully rented and turnkey.
Property Size4,452 SF
Price / SF$399.82
Days on Market349
Property Features for 9150 Northwest 22nd Avenue
General Information
Standard status
Active
Size
4,452 SF
Total Parking Spaces
17
Property subtype
Commercial Sale / Mixed Use
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$17,336
Amenities
Central Building
Electric
1
Leases
Office
Exterior Lighting, Separate Office Area
No
Building Details
Year Built
2017
Tenancy
Multi
Listing Agency:
Florida Realty of Miami Corp
(786) 597-2211
Listed By:
Lady J Sjostrom · License #3280620
(786) 597-2211
Source:
Compass
Added: Aug 29, 2025
Changed: Aug 8
Last Checked: Jul 20 at 10:46AM
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 Florida Realty of Miami Corp
Investment Insights
Based on property information with market context.
Built in 2017, this modern shopping center features four storefront spaces with high ceilings, designed for bright, open interiors. The property is offered in turnkey condition with newer systems throughout, and it is fully rented.
The center provides 17 parking spaces on site and is located at 9150 Northwest 22nd Avenue in Miami, FL 33147. Current rent is listed at $2,130, $2,100, $2,200, and $2,000 across the four storefronts, with an option to renew leases that includes an annual increase.
The center provides 17 parking spaces on site and is located at 9150 Northwest 22nd Avenue in Miami, FL 33147. Current rent is listed at $2,130, $2,100, $2,200, and $2,000 across the four storefronts, with an option to renew leases that includes an annual increase.
Key Highlights
- Shopping center built in 2017 with 4 storefronts
- Fully rented with leases in place; option to renew with annual lease increases
- 17 parking spaces for tenants and customers
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
$145,250
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
8.16%
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%
$2,905,000
$2.9M
Cap Rate 7%
$2,075,000
$2.1M
Cap Rate 9%
$1,613,889
$1.6M
Market Conditions
NOI Build-Up for 4,452 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
$231.3K $51.96/SF
− Vacancy
−$23.8K −$5.35/SF
EGI
$207.5K $46.61/SF
− OpEx
−$62.2K −$13.98/SF
NOI
$145.2K $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%
$2,905,000
Cap Rate 7%
$2,075,000
Cap Rate 9%
$1,613,889
Alternative Uses
Best Use
Retail
$2.07M
$1.82M – $2.42M
NOI $145,250 @ 7.0% cap · market cap 8.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.01M
$2.63M – $3.51M
NOI $210,359 @ 7.0% cap · market cap 11.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,394
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33147, FL
48,823
Population
16,220
Households
3
Avg Household Size
39
Median Age
15%
College-Educated
77%
High-School Grad
7.2 sq mi
ZIP Area
6,781
Density / Sq Mi
$47,728
Median Household Income
$33,385
Median Earnings
$1,359
Median Rent
$301,300
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?
Shopping center - 2017-built shopping center with four storefronts, high ceilings, and 17 parking spaces, fully rented and turnkey.
Where is this shopping center located?
The property is located at 9150 Northwest 22nd Avenue Miami, FL.
What is the asking price?
The asking price for this property is $1,780,000.
What are key features of this property?
This property features: Shopping center built in 2017 with 4 storefronts; Fully rented with leases in place; option to renew with annual lease increases; 17 parking spaces for tenants and customers
