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Downtown Miami Development Opportunity

Ne 1st Ave Ne 2nd St Miami, FL

Ne 1st Ave Ne 2nd St, Miami, FL, 00000
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Historic building and development site in Downtown Miami.

Property Size35,659 SF
Lot Size0.17 Acres
Price / SF$673.04
AddedOct 15, 2025
Days on Market275
Last RefreshJul 15 at 11:17 am

Property Features for Ne 1st Ave Ne 2nd St

General Information

Standard status
Active
Size
35,659 SF
Lot size
0.17 Acres
Property subtype
RETAIL

Listing office Gridline Properties

Listing date Oct 15, 2025

Source Moodyscre

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 Gridline Properties


Investment Insights

Based on property information with market context.

This offering includes a historic building at 100 NE 1st Avenue and a development site at 54 NE 2nd Street, both located in Downtown Miami. The historic building has a size of 35,659 square feet and is situated on a 9,330-square-foot lot. It comprises 5 levels and is zoned T6-BO-O. The development site offers significant potential with a 15,000-square-foot lot. It is zoned T6-8O-O and allows for development of up to 344 residential units or 688 hotel units as of right. The maximum building height is 80 stories, with a density overlay of 1,000 units per acre.

Key Highlights

  • Development Site with potential for 344 residential units or 688 hotel units.
  • Prime Downtown Miami location for both properties.
  • Historic Building with 35,659 SF of space.

Local Financial Insights For Retail

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 $1.85M $51.96
− Vacancy −$190.8k −$5.35
EGI $1.66M $46.61
− OpEx −$498.6k −$13.98
NOI $1.16M $32.63
35,659 SF · lease $51.96/SF/yr · vacancy 10.30% · expense 30.00%

Alternative Uses

Best Use
Retail
$16.62M
$14.54M – $19.39M (±1% cap)
NOI $1,163,399 @ 7.0% cap · market cap 4.85%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$24.07M
$21.06M – $28.08M (±1% cap)
NOI $1,684,904 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Storefront properties

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FAQs

What type of property is this?
Storefront property - Historic building and development site in Downtown Miami.
Where is this storefront property located?
The property is located at Ne 1st Ave Ne 2nd St Miami, FL.
What is the asking price?
The asking price for this property is $24,000,000.
What are key features of this property?
This property features: Development Site with potential for 344 residential units or 688 hotel units.; Prime Downtown Miami location for both properties.; Historic Building with 35,659 SF of space.
Contact an agent
(305) 507-7098 Call to check price and availability
More about this property
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