Coconut Grove Mixed-Use Development
2843 S Bayshore Dr # 2 Miami, FL 33133
2843 S Bayshore Dr # 2, Miami, FL, 33133
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For Sale
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6,782 SqFt mixed-use property near CocoWalk and Bayside Park.
Property Size6,782 SF
Price / SF$287.38
Days on Market1145
Property Features for 2843 S Bayshore Dr # 2
General Information
- Standard status
- Active
- Size
- 6,782 SF
- Property subtype
- Mixed Use, Office
Building Details
- Year Built
- 1982
Listing Agency
AGK Realty LLC
(786) 802-6340
Listed by
Alina Meledina · License #3287908
Source
Crexi
Added: Jun 1, 2023 Checked: Jul 19 at 5:39 am
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 AGK Realty LLC
Investment Insights
Based on property information with market context.
This 6,782 SqFt property in Coconut Grove presents a development opportunity with mixed-use zoning, suitable for commercial and residential purposes. The property, comprised of two folios, is located near CocoWalk and Bayside Park, offering access to shopping, dining, and entertainment. The property is being sold as-is in its current condition with concrete walls only. It is suited for luxury residences, commercial spaces, or a mixed-use commercial and residential development.
Key Highlights
- Prime location in Coconut Grove, steps from CocoWalk and Bayside Park.
- Rare 6,782 SqFt property with two folios.
- Mixed‑Use Zoning (Commercial/Residential) allows for flexible development options.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $284.8k | $42.00 |
| − Vacancy | −$28.5k | −$4.20 |
| EGI | $256.4k | $37.80 |
| − OpEx | −$96.1k | −$14.18 |
| NOI | $160.2k | $23.63 |
6,782 SF · lease $42.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Office B
$2.78M
$2.43M – $3.24M
NOI $194,559 @ 7.0% cap · market cap 9.98%
Second Best
Mixed Use
$2.29M
$2.00M – $2.67M
NOI $160,225 @ 7.0% cap · market cap 8.22%
Theoretical Best
Specialty Retail
$4.58M
$4.01M – $5.34M
NOI $320,453 @ 7.0% cap · market cap 16.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Grove Towers
Condominium Complex
Speedbits LLC
Telecommunications Service
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - 6,782 SqFt mixed-use property near CocoWalk and Bayside Park.
Where is this mixed-use property located?
The property is located at 2843 S Bayshore Dr # 2 Miami, FL.
What is the asking price?
The asking price for this property is $1,949,000.
What are key features of this property?
This property features: Prime location in Coconut Grove, steps from CocoWalk and Bayside Park.; Rare 6,782 SqFt property with two folios.; Mixed‑Use Zoning (Commercial/Residential) allows for flexible development options.
