Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2929 SW 3Rd Ave Miami, FL 33129

    Property Lookup

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

    2929 SW 3Rd Ave Miami, FL 33129

    View on Map
    • Office buildings
    • 23,150 SF
    • 0.40 lot acres
    For Lease
    $5,270,000
    View Listing →
    Coral Way Multi-Tenant Office Building For Lease
    $5,270,000
    1,450 SF

    Coral Way Multi-Tenant Office Building

    Six-story office building in the heart of Coral Way.

    2929 SW 3rd Ave, Miami, FL
    View Listing
    Property ID
    US18-5844368
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Invent Dental / Dental Office
    • World of Beauty Miami / Spa & Massage Center / Alternative Medicine Practice
    • AAA Home Health Services / Home Health Care Service
    • Clearsky Property Management LLC / Property Management Company
    • GIMEZA A REAL ESTATE CORPORATION / Real Estate Agency

    Property Details for 2929 SW 3Rd Ave

    Year built
    1973
    Construction
    CONCRETE
    Lot size
    0.40 lot acres
    Property size
    23,150 SF
    Zone code
    6100:COMMERCIAL,NEIGHBRHD
    Property type
    Office buildings
    APN
    01-4138-009-0590
    APU
    141380090590

    Description

    This exceptional executive office space, located at 2929 S.W. 3rd Avenue in Miami's Brickell area, offers a unique opportunity for businesses seeking a prestigious address. The property, situated on a 0.4-acre corner lot at the intersection of SW 29th Road and 3rd Avenue (Historical Coral Way), enjoys convenient access to Brickell Avenue (five blocks away) and I-95 (a few blocks away). Built in 1973, this well-maintained six-story building features one building with a total of 54 parking spaces. The available space is ideal for multiple tenants, with a minimum divisible space of 340 square feet and a maximum contiguous space of 1,450 square feet

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2108
    Latitude
    25.7532
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $74,183
    $4,375,000
    $100,000
    $4,475,000
    -
    $4,375,000
    $100,000
    $4,475,000

    Comparable in this City

    • Value Estimation
      $3,075,000
      8,202 SF

      1501 Miami Ave

      PROFESSIONAL BUILDING • 8,202 SF
      1501 Miami Ave, Miami, FL 33129-1102
      View Details
    • Value Estimation
      $510,000
      1,488 SF

      2835 3rd Ave

      PROFESSIONAL BUILDING • 1,488 SF
      2835 3rd Ave, Miami, FL 33129-2316
      View Details
    • Value Estimation
      $2,455,000
      6,174 SF

      2840 3rd Ave

      OFFICE BUILDING (MULTI-STORY) • 6,174 SF
      2840 3rd Ave, Miami, FL 33129-2317
      View Details
    • Value Estimation by Request
      788 SF

      1925 Brickell Ave Ste D210

      OFFICE BUILDING (MULTI-STORY) • 788 SF
      1925 Brickell Ave Ste D210, Miami, FL 33129-2939
      View Details
    • Value Estimation by Request
      1,515 SF

      2600 3rd Ave Ste, Unit 250

      OFFICE BUILDING (MULTI-STORY) • 1,515 SF
      2600 3rd Ave Ste, Miami, FL 33129-2343
      View Details
    • Value Estimation
      $840,000
      2,931 SF

      2600 3rd Ave Ste, Unit 350

      OFFICE BUILDING (MULTI-STORY) • 2,931 SF
      2600 3rd Ave Ste, Miami, FL 33129-2348
      View Details

    Similar Nearby for Sale

    • $1,050,000

      Renovated Brickell Commercial Ground Floor Office

      Meticulously renovated office with private entrance in vibrant Brickell.
      151 SE 15Th Rd, Miami, FL 33129
      View Details
    • $400,000
      Pending

      Skyline Brickell Commercial Office Space

      522 sqft office space in vibrant Brickell area.
      2101 Brickell Ave, Miami, FL 33129
      View Details
    • $1,149,000
      1,353 SF

      Commercial Office with Private Parking

      Ground floor office with private entrance, parking, and amenities.
      151 SE 15Th Rd, Miami, FL 33129
      View Details
    • $1,250,000
      1,353 SF

      Brickell Executive Office Suite

      Prime Miami Office, Turnkey Ready
      151 15Th Rd, Miami, FL 33129
      View Details
    • Contact for pricing
      Pending

      Turnkey Office Space Near Brickell

      Modern, collaborative office space ready for immediate occupancy.
      1820 SW 3Rd Ave, Miami, FL 33129
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,450 SF

      Coral Way Multi-Tenant Office Building

      Six-story office building in the heart of Coral Way.
      2929 SW 3Rd Ave, Miami, FL 33129
      View Details
    • Contact for pricing
      17,573 SF

      Wynwood Mixed-Use Development

      New mixed-use development with office, retail, and residential spaces.
      2115 N Miami Ave, Miami, FL 33129
      View Details
    • $4,000 /Mo

      Modern Office Space in Miami

      Bright, open office space with valet parking in Miami.
      1865 Brickell Ave, Miami, FL 33129
      View Details
    • $6,800 /Mo

      Miami Mixed-Use Space For Rent

      Approximately 1,500 sqft space in outstanding Miami location.
      1779 SW 3Rd Ave, Miami, FL 33129
      View Details
    • $750 /Mo

      Furnished Private Office Space Available

      Furnished private office with parking, internet, and shared amenities.
      2730 SW 3Rd Ave, Miami, FL 33129
      View Details
    • $49 SF/Yr

      Brickell Furnished Office with Parking

      Furnished office space in Brickell with private entrance and parking.
      151 SE 15Th Rd, Miami, FL 33129
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2929 SW 3Rd Ave
    Miami, FL 33129
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!