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    1010 2Nd Ave Miami, FL 33132

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    For Lease
    Contact for pricing

    Prime Downtown Miami Retail Opportunity

    Lot size:
    300,000 SF

    Property Features for 1010 2Nd Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    300,000 SF
    Class
    A

    Spaces For Lease

    at 1010 2Nd Ave, Miami, FL 33132 Contact us

    We can help!

    Listing Contact
    Michael Silverman

    Listing Agency: The Comras Company of Florida, Inc. Listing Agent: Michael Silverman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Located in the heart of Downtown Miami at 1010 NE 2nd Ave, this Class A retail property within the Miami Worldcenter development offers exceptional opportunities for businesses seeking high-visibility locations. The property boasts a total of 300,000 square feet of retail space, with multiple tenancy options available. Spaces range from a minimum of 1,300 square feet to a maximum contiguous space of 5,000 square feet, providing flexibility for various business needs. Currently, over 95% of the space is leased, indicating strong market demand and a thriving retail environment. The property sits on a substantial 27-acre lot, offering ample space and visibility. The location is strategically advantageous, positioned directly across from ClubStudio Fitness, ensuring high foot traffic and exposure to a health-conscious clientele. Ideal tenants are those in personal care, health, wellness, retail, and fashion sectors. This is a rare opportunity to establish a presence in one of Miami's most dynamic and rapidly growing commercial districts. The property's prime location, combined with its size and existing high occupancy rate, presents a compelling investment opportunity for discerning businesses seeking to capitalize on the vibrant energy of Downtown Miami. Don't miss this chance to become part of Miami Worldcenter's thriving retail scene. Contact us today to learn more about available spaces and leasing options.
    Property Profile Location Intelligence

    Current Use by Public Records

    Entrenador de Ventas Training Center Brickell Ten Condominium Condominium Complex PARAMOUNT Miami Worldcenter ... Condominium Complex MWX Realty | Wilson ... Real Estate Agency US Realty Agency Real Estate Agency

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Law Firm Nail Salon Food Market Grocery & Convenience Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.192349208372
    Latitude
    25.782869732375

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    FAQs

    What type of property is this?
    Restaurant - Prime Downtown Miami Retail Opportunity
    Where is this restaurant located?
    The property is located at 1010 2Nd Ave Miami, FL.
    What are key features of this property?
    This property features: Class A retail space totaling 300,000 square feet in Miami Worldcenter, Downtown Miami.; Spaces range from 1,300 to 5,000 contiguous square feet, with over 95% currently leased.; Vanilla box retail spaces with restrooms, HVAC, and electrical, ready for immediate occupancy.
    (561) 313-6791 Call to check price and availability
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    1010 2Nd Ave Miami, FL 33132
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    Miami, FL 33132
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    1010 2Nd Ave Miami, FL 33132
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    Contact for Pricing
    Please call us for current price
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    Michael Silverman
    (561) 313-6791
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