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

    535 35Th St Miami, FL 33127

    • Commercial real estate
    For Sale
    View listing
    $14,000,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-9746781
    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

    • Commercial real estate

    Property Details for 535 35Th St

    Property type
    Commercial real estate

    Description

    This exceptional 41,025-square-foot development site in Miami's Wynwood Norte is offered at $14,000,000. Located at 535 NW 35th Street, between NW 5th and 6th Avenues, this property enjoys a prime location minutes from the Wynwood Arts District, Midtown Miami, and the Design District. Zoned T5-O, the site is permit-ready for a substantial development project. Approved plans allow for up to 141 residential units and 8 stories, leveraging the existing NRD-2 zoning overlay. However, the site presents a unique opportunity to maximize potential through the Live Local Act (LLA), potentially allowing for up to 20 stories and 350 residential units, or even higher density based on the LLA's maximum height and unit allowances within a one-mile radius. The site's six folios offer flexibility, and its high visibility on NW 35th Street, coupled with excellent access to I-195 and I-95 (approximately 140,000 daily car traffic), ensures strong potential for a variety of uses, including residential, hotel, office, or mixed-use developments. This is a rare chance to capitalize on Miami's thriving real estate market and create a landmark development. The property is sold as-is.

    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
    -80.2042368
    Latitude
    25.8094508

    Comparable in this City

    • $1,850,000

      Buena Vista Development Land

      Prime Miami commercial lot, 13,400 SF.
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    • $950,000

      Prime Investment Land Opportunity

      T-4R property near Wynwood, Midtown, and Design District.
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    • $1,185,000

      Development Site on NW 54th

      Opportunity zone development site with full site plan approval.
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      Commercial Land Near Innovation District

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    • $800,000

      Vacant Land in Rising Neighborhood

      Vacant land in prime location near Miami Design District.
      4500 N Miami Ave, Miami, FL 33127
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    • $800,000

      Prime Land in Rising Neighborhood

      Vacant land in a rapidly developing Miami neighborhood.
      4510 N Miami Ave, Miami, FL 33127
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    Similar Nearby for Sale

    • $1,200,000
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      Buena Vista Development Gem

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      Wynwood Development Site: Prime Location

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    • $1,800,000

      Wynwood Norte Development Land

      Prime Miami lot, 24-unit potential.
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      Allapattah Development Site Opportunity

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    • $14,500,000

      Miami Land For Sale

      Land available in Miami, Florida.
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    • $1,999,999

      Vacant Land in Buena Vista

      Developable land near Wynwood and Design District hotspots.
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    Similar Nearby for Lease

    • $12 SF/Yr

      Land Available For Rent

      Land available for rent at 1027 NW 36th St, Miami, FL.
      1027 NW 36Th St, Miami, FL 33127
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    • $7 SF/Yr
      800 SF

      Allapattah Commercial Land Opportunity

      Prime Miami land, ideal for various uses.
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    • Contact for pricing
      32,483 SF

      Allapattah Industrial Warehouse

      Miami warehouse, 32,483 SF, 2.5 acres
      2055 7Th Ave, Miami, FL 33127
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    • $11 SF/Yr
      32,921 SF

      Wynwood Commercial Land Opportunity

      Prime Wynwood lot, 32,921 sq ft.
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    • $15 SF/Yr
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      Miami Industrial Distribution Warehouse

      Allapattah Warehouse: Lease Opportunity
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    • $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
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    535 35Th St
    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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