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    2120 32Nd Ave Miami, FL 33145

    Sponsored
    For Sale
    $19,295,214

    Prime Coral Gables retail, 15-year lease.

    Property size:
    23,519 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a newly renovated (2024), 23,519-square-foot freestanding retail building in Coral Gables, Florida. Located at 2120 SW 32nd Ave, Miami, FL 33145, this Class A property sits on a 1.95-acre lot (APN: 01-4109-012-0031) in a high-traffic area, adjacent to other national retailers. The property is 100% occupied by a CVS Pharmacy under a 15-year net lease with a corporate guarantee, offering significant long-term stability. The net rentable area is 23,344 square feet, with a price per square foot of $820.41 and a 4.75% cap rate. The asking price is $19,295,214. This single-story building benefits from a complete gut renovation completed in 2024, ensuring modern amenities and functionality. The property is zoned 6101 and offers a strong investment opportunity due to its prime location, long-term lease, and corporate guarantee. The lease includes eight five-year renewal options with a 5% rental increase in each option. This is a rare chance to acquire a high-quality, net-leased retail property in a thriving Miami-Dade County submarket, within the tax-free state of Florida.

    Property Features for 2120 32Nd Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    23,519 SF
    Class
    A
    Lot Size
    84,942 SF

    Building Details

    Year Renovated
    2024
    Buildings
    1
    Stories
    1

    HighLights

    • Newly renovated (2024) 23,519 SF freestanding retail building in Coral Gables, FL.
    • 100% occupied by CVS Pharmacy under a 15‑year net lease with eight 5‑year renewal options and 5% annual rent increases.
    • Absolute NNN lease with corporate guarantee.
    • Located on a 1.95‑acre lot in a high‑traffic retail area.
    • Asking price: $19,295,214, representing a 4.75% cap rate.
    Property Profile Location Intelligence

    Current Use by Public Records

    Navarro Pharmacy #11509 Pharmacy CVS Drug Store CVS Pharmacy Pharmacy

    Suggested Use

    Realty agency Restaurant Dental Office Spa & Massage Law Firm Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2470673
    Latitude
    25.7511401

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    FAQs

    What type of property is this?
    Individual retail property - Prime Coral Gables retail, 15-year lease.
    Where is this individual retail property located?
    The property is located at 2120 32Nd Ave Miami, FL.
    What is the asking price?
    The asking price for this property is $19,295,214.
    What are key features of this property?
    This property features: Newly renovated (2024) 23,519 SF freestanding retail building in Coral Gables, FL.; 100% occupied by CVS Pharmacy under a 15-year net lease with eight 5-year renewal options and 5% annual rent increases.; Absolute NNN lease with corporate guarantee.
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    2120 32Nd Ave Miami, FL 33145
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    Miami, FL 33145
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2120 32Nd Ave Miami, FL 33145
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