Commercial Building on Main
For Sale
$2,900,000
920 NW 119th Street, Miami, FL 33168
3,720 SF building with two bathrooms on a 19,125 SF lot, suited for a car dealership or event use.
Property Size3,720 SF
Lot Size0.44 Acres
Price / SF$779.57
Days on Market36
Property Features for 920 NW 119th Street
General Information
Standard status
Active
Size
3,720 SF
Lot size
0.44 Acres
Zoning
6062
Building Details
Building Size
3,720 SF
Year Built
1956
Listing Agency:
Prime Properties Realty of South Florida, Inc.
(305) 905-0100
Listed By:
Rodolfo Siblesz · License #A12021183
(305) 905-0100
Source:
Laerrealty
Added: Jul 20
Changed: Aug 23
Last Checked: Aug 22 at 7:48AM
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 Prime Properties Realty of South Florida, Inc.
Investment Insights
Based on property information with market context.
This property includes a 3,720 SF commercial building with two bathrooms on a 19,125 SF lot. The space can support a car dealership or a banquet hall use, and the site also allows for redevelopment, including demolition.
The building is located right on 119 Street NW near 920 NW 119 Street and 842 NW 119 Street (as described in the remarks). The zoning permits development up to 8 stories, offering a pathway to build vertically to maximize the investment.
Available for sale, the asset is positioned for automotive-focused occupancy today or for future redevelopment subject to zoning approvals.
The building is located right on 119 Street NW near 920 NW 119 Street and 842 NW 119 Street (as described in the remarks). The zoning permits development up to 8 stories, offering a pathway to build vertically to maximize the investment.
Available for sale, the asset is positioned for automotive-focused occupancy today or for future redevelopment subject to zoning approvals.
Key Highlights
- 3,720 SF commercial building on a 19,125 SF lot
- Two bathrooms in the building
- Located right on 119 Street NW, near 920 NW 119 Street and 842 NW 119 Street
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
$121,368
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
4.19%
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%
$2,427,360
$2.4M
Cap Rate 7%
$1,733,829
$1.7M
Cap Rate 9%
$1,348,533
$1.3M
Market Conditions
NOI Build-Up for 3,720 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
$193.3K $51.96/SF
− Vacancy
−$19.9K −$5.35/SF
EGI
$173.4K $46.61/SF
− OpEx
−$52.0K −$13.98/SF
NOI
$121.4K $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 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%
$2,427,360
Cap Rate 7%
$1,733,829
Cap Rate 9%
$1,348,533
Alternative Uses
Best Use
Retail
$1.73M
$1.52M – $2.02M
NOI $121,368 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.51M
$2.20M – $2.93M
NOI $175,772 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,997
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33168, FL
24,715
Population
6,761
Households
3.7
Avg Household Size
39
Median Age
16%
College-Educated
79%
High-School Grad
3.6 sq mi
ZIP Area
6,865
Density / Sq Mi
$58,636
Median Household Income
$31,984
Median Earnings
$1,576
Median Rent
$329,000
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?
Showroom - 3,720 SF building with two bathrooms on a 19,125 SF lot, suited for a car dealership or event use.
Where is this showroom located?
The property is located at 920 NW 119th Street Miami, FL.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 3,720 SF commercial building on a 19,125 SF lot; Two bathrooms in the building; Located right on 119 Street NW, near 920 NW 119 Street and 842 NW 119 Street
