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    5501 2Nd Ave Miami, FL 33127

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    For Sale
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    Historic building, high-rental income potential.

    Property Features for 5501 2Nd Ave

    General Information

    Property type
    Mixed-use properties

    Building Details

    Year Built
    1924

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    Listing Contact
    Vicente Rodriguez
    Vicente Rodriguez

    Listing Agency: Fausto Commercial Realty Listing Agent: Vicente Rodriguez

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

    Learn more

    Property Insight Report

    Overview

    This exceptional mixed-use property, located at 5501 NW 2nd Ave, Miami, FL 33127, presents a compelling investment opportunity for both business owners and developers. Built in 1924, this historic building offers a prime location near Miami's thriving Buena Vista, Wynwood, Design District, Downtown Miami, and Brickell neighborhoods, ensuring high visibility and foot traffic. The property is classified as a T5-L mixed-use building, accommodating retail and office spaces alongside apartments. Currently, the property includes a large studio in the back, and both units generate a combined monthly rental income of approximately $5,000-$6,000. The property also includes four dedicated parking spaces, supplemented by ample street parking. This presents a unique chance to acquire a well-situated, income-producing asset. The asking price is $1,000,000, and financing options are available, including SBA financing with as little as 10% down payment. The property's strategic location and versatile zoning make it ideal for a variety of uses, offering significant potential for future growth and appreciation. This is a rare opportunity to own a piece of Miami's vibrant commercial landscape.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    ATM Atm Churchill's Pub Nightclub

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center 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
    -80.1998443
    Latitude
    25.8261917

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    FAQs

    What type of property is this?
    Mixed-use property - Historic building, high-rental income potential.
    Where is this mixed-use property located?
    The property is located at 5501 2Nd Ave Miami, FL.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: Prime mixed-use property in Miami's desirable Buena Vista area, near Wynwood, Design District, Downtown, and Brickell.; Historic 1924 building with T5-L zoning allowing retail, office, and residential uses.; Currently generates $5,000-$6,000 monthly rental income from existing studio and other units.
    (305) 510-6627 Call to check price and availability
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    5501 2Nd Ave Miami, FL 33127
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    Miami, FL 33127
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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
    5501 2Nd Ave Miami, FL 33127
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Vicente Rodriguez
    Vicente Rodriguez
    Real Estate License ID: 3289280
    (305) 510-6627 (305) 330-2305 (305) 961-1179
    Learn more
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