Midtown Miami Retail
For Sale
Contact for pricing
45 NE 36th St, Miami, FL 33137
Two-story retail property in Miami's thriving Midtown district.
Property Size8,710 SF
Lot Size0.10 Acres
Price / SF$855.34
Days on Market976
Property Features for 45 NE 36th St
General Information
Standard status
Active
Size
8,710 SF
Lot size
0.10 Acres
Property subtype
Office
Zoning
T6-12-O
Occupancy
100%
Investment Type
Owner/User
Net Operating Income
$460,308
Building Details
Stories
2
Listing Agency:
DWNTWN Realty Advisors
Listed By:
Tony Arellano · License #FL SL3132321
(305) 909-7343
Source:
Crexi
Added: Jan 8, 2024
Changed: Sep 6
Last Checked: Sep 9 at 5:55AM
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 DWNTWN Realty Advisors
Investment Insights
Based on property information with market context.
The property at 45-47 NE 36th Street is a two-story freestanding corner retail property with 8,710 square feet of space on a 4,356 square foot lot, situated in Miami's Midtown district. The ground floor is occupied by a retail tenant, while the first and second floors accommodate an owner/user office. The property is currently fully occupied. Leases expire in 2025-2026. Located on the north side of NE 36th Street, the property is directly opposite the Shops at Midtown Miami, benefiting from high foot traffic and visibility near major national tenants such as Target, West Elm, and Home Goods. The property includes 10 parking spaces in an adjacent lot, with additional overflow parking available across the street at the Midtown Garages. It offers immediate access to Interstate 195, Interstate 95, and Biscayne Boulevard, connecting the Design District, Midtown, and Wynwood neighborhoods. The property has promising upside potential due to ongoing developments in the area, including luxury residential towers and commercial ventures.
Key Highlights
- Prime Midtown Miami location directly across from The Shops at Midtown Miami, ensuring high visibility and foot traffic.
- Freestanding two‑story corner retail property with 8,710 SF on a 4,356 SF lot.
- Currently fully occupied with a retail tenant and owner/user office, providing immediate income.
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
$284,170
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
3.81%
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%
$5,683,400
$5.7M
Cap Rate 7%
$4,059,571
$4.1M
Cap Rate 9%
$3,157,444
$3.2M
Market Conditions
NOI Build-Up for 8,710 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
$452.6K $51.96/SF
− Vacancy
−$46.6K −$5.35/SF
EGI
$406.0K $46.61/SF
− OpEx
−$121.8K −$13.98/SF
NOI
$284.2K $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%
$5,683,400
Cap Rate 7%
$4,059,571
Cap Rate 9%
$3,157,444
Alternative Uses
Best Use
Retail
$4.06M
$3.55M – $4.74M
NOI $284,170 @ 7.0% cap · market cap 3.81%
Second Best
Office B
$3.57M
$3.12M – $4.16M
NOI $249,868 @ 7.0% cap · market cap 3.35%
Theoretical Best
Specialty Retail
$5.88M
$5.14M – $6.86M
NOI $411,551 @ 7.0% cap · market cap 5.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,333
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33137, FL
25,763
Population
15,237
Households
1.7
Avg Household Size
37
Median Age
51%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
12,882
Density / Sq Mi
$82,798
Median Household Income
$53,519
Median Earnings
$2,338
Median Rent
$532,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Miami, FL
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Frequently Asked Questions
What type of property is this?
Storefront property - Two-story retail property in Miami's thriving Midtown district.
Where is this storefront property located?
The property is located at 45 NE 36th St Miami, FL.
What is the asking price?
The asking price for this property is $7,450,000.
What are key features of this property?
This property features: Prime Midtown Miami location directly across from The Shops at Midtown Miami, ensuring high visibility and foot traffic.; Freestanding two‑story corner retail property with **8,710 SF on a 4,356 SF lot.**; Currently fully occupied with a retail tenant and owner/user office, providing immediate income.
