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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2900 28Th Ln Miami, FL 33133

    • Commercial real estate
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4652135
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Zoi House Grove / Apartment Complex / Apartment Building
    • House / Apartment Building / Apartment Complex
    • Blink Charging Station / Electric Vehicle Charging Station
    • Formuix / Dj Service
    • Juneau Construction Company / General Contractor

    Property Details for 2900 28Th Ln

    Property type
    Commercial real estate

    Description

    This exceptional 270,087 square-foot ground floor retail space is located within the ZOI House, a 130-unit apartment building. Ideally situated adjacent to the Coconut Grove Metrorail station, this single-tenant property offers unparalleled accessibility and visibility. Its strategic location provides easy access to the vibrant neighborhoods of downtown Coconut Grove, Brickell, and Coral Gables, ensuring high foot traffic and a diverse customer base. The space is zoned 6100 and is adaptable to a wide range of commercial uses, including restaurants, gyms, cafes, specialty markets, event spaces, or offices. The property includes ample parking with 14 spaces available for tenants and their patrons. This presents a unique opportunity for businesses seeking a prominent location in a thriving South Florida market. The building itself consists of one building with one suite, offering a cohesive and easily managed space. The APN is 01-41-16-038-0010. This is a rare chance to secure a substantial retail presence in a highly desirable area with excellent transit connections and strong surrounding demographics. The expansive square footage allows for creative and flexible layouts to suit a variety of business needs. Don't miss this chance to establish your business in a prime Coconut Grove location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2405304
    Latitude
    25.7394848

    Comparable in this City

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      7,134 SF

      Miami Warehouse: 7,134 SF

      Single-tenant warehouse, prime Miami location.
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    • $7,500 /Mo

      3111 Commodore Plaza

      BEST RETAILSPACE IN COCONUT GROVE
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      Coral Gables Smoke Shop Business

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      Retail Space in Coconut Grove

      Retail space available in the heart of Coconut Grove.
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      Retail Space on Biscayne Boulevard

      Retail space with high traffic and nearby residential units.
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      Retail Space in Coconut Grove

      Two-story retail/office space in a tourist destination.
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    Similar Nearby for Sale

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      Prime Coconut Grove Restaurant

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      Retail Space at Grove Marina

      Retail space for lease at Grove Marina.
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    Similar Nearby for Lease

    • $8 SF/Yr
      9,453 SF

      Coral Gables Smoke Shop Business

      Thriving Smoke Shop, High Traffic Area
      2753 27Th Ave, Miami, FL 33133
      View Details
    • $55 SF/Yr

      Retail Space in Coconut Grove

      Retail space available in the heart of Coconut Grove.
      3872 Grand Ave, Miami, FL 33133
      View Details
    • $0.06 SF/Yr
      7,134 SF

      Miami Warehouse: 7,134 SF

      Single-tenant warehouse, prime Miami location.
      3001 28Th Ln, Miami, FL 33133
      View Details
    • $7,500 /Mo

      3111 Commodore Plaza

      BEST RETAILSPACE IN COCONUT GROVE
      3111 Commodoore Plz, Coconut Grove, FL 33133
      View Details
    • Contact for pricing
      3,458 SF

      Retail Space in Coconut Grove

      Two-story retail/office space in a tourist destination.
      3000 Florida Ave, Miami, FL 33133
      View Details
    • $120 SF/Yr
      752 SF

      Retail Space Available For Rent

      Retail space available for lease, 752 square feet.
      3406-3412 Main Hwy, Miami, FL 33133
      View Details
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    2900 28Th Ln
    Miami, FL 33133
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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
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