Ne 1st Ave Ne 2nd St Miami, FL
Historic building and development site in Downtown Miami.
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 (305) 507-7098
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.
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 |
Alternative Uses
Property Analytics
Current Use by Public Records
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