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    3422 5Th Ave Miami, FL 33127

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    3422 5Th Ave Miami, FL 33127

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    • Commercial real estate
    For Lease
    $0.02 SF/Yr
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    Wynwood Norte Mixed-Use Opportunity For Lease
    $0.02 SF/Yr

    Wynwood Norte Mixed-Use Opportunity

    30,000 SF Open Concept Space

    3422 5Th Ave, Miami, FL 33127
    View Listing
    Property ID
    US18-1515997
    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

    • Commercial real estate

    Property Details for 3422 5Th Ave

    Property type
    Commercial real estate

    Description

    This exceptional retail space, located at 3422 NW 5th Ave in Miami, Florida (zip code 33127), offers a unique opportunity for businesses seeking a vibrant and rapidly growing location. Currently 1100 square feet, this space within a brand-new, four-story building offers the potential to expand to 1500 square feet, providing flexibility for future growth. Situated in the heart of Wynwood Norte, this property benefits from its proximity to the well-established Wynwood and Midtown areas, ensuring high visibility and accessibility. The building's modern design complements the trendy neighborhood aesthetic. The property is zoned 6107. The location boasts convenient access to 5th Avenue, providing excellent connectivity for customers and employees. With over 2000 residential units planned for construction within the next three years, Wynwood Norte is experiencing significant residential growth, creating a strong and expanding customer base for businesses in the area. The property's APN is 01-31-25-021-0180. The building is a single-tenant retail property and is expected to be completed in March 2025. This is a single-tenant space in a modern building, perfect for businesses looking to establish themselves in a thriving Miami neighborhood.

    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
    -80.2037144
    Latitude
    25.8088147

    Comparable in this City

    • Contact for pricing

      Wynwood Retail/Office Space Available

      Up to 18,500 SF available in East Wynwood.
      2534 N Miami Ave, Miami, FL 33127
      View Details
    • Contact for pricing

      Wynwood Retail and Office Space

      New retail and office spaces in vibrant Wynwood neighborhood.
      70 NW 28Th St, Miami, FL 33127
      View Details
    • Contact for pricing
      936 SF

      Retail Space in Miami, FL

      936 SF retail space available for rent in Miami.
      160-176 NW 26Th St, Miami, FL 33127
      View Details
    • $85 SF/Yr
      1,268 SF

      Retail Space Available For Rent

      Retail space available for lease in Miami, Florida.
      153 NW 25Th St, Miami, FL 33127
      View Details
    • Contact for pricing
      15,500 SF

      Retail Space in Miami

      Retail space available for lease in Miami, Florida.
      4218 Ne 2Nd Ave, Miami, FL 33127
      View Details
    • Contact for pricing
      4,400 SF

      Turnkey Restaurant Space Available

      Restaurant space for rent in WYND27 urban development.
      143 NW 26Th St, Miami, FL 33127
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Wynwood Retail/Office Space Available

      Up to 18,500 SF available in East Wynwood.
      2534 N Miami Ave, Miami, FL 33127
      View Details
    • Contact for pricing

      Wynwood Retail and Office Space

      New retail and office spaces in vibrant Wynwood neighborhood.
      70 NW 28Th St, Miami, FL 33127
      View Details
    • Contact for pricing
      936 SF

      Retail Space in Miami, FL

      936 SF retail space available for rent in Miami.
      160-176 NW 26Th St, Miami, FL 33127
      View Details
    • $85 SF/Yr
      1,268 SF

      Retail Space Available For Rent

      Retail space available for lease in Miami, Florida.
      153 NW 25Th St, Miami, FL 33127
      View Details
    • Contact for pricing
      15,500 SF

      Retail Space in Miami

      Retail space available for lease in Miami, Florida.
      4218 Ne 2Nd Ave, Miami, FL 33127
      View Details
    • Contact for pricing
      4,400 SF

      Turnkey Restaurant Space Available

      Restaurant space for rent in WYND27 urban development.
      143 NW 26Th St, Miami, FL 33127
      View Details
    View Listing
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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
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    3422 5Th Ave, Miami, FL, 33127

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