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3120-3138 Commodore Plz 37,581 SF 100% Leased Retail Building Coconut Grove, FL 33133 $18,990,000 ($505.31/SF)
Investment Highlights
- 3120-3138 Commodore Plaza presents an absolute, long-term, NNN ground-lease land tract of 0.44 acres.
- An irreplaceable real estate investment opportunity; live local eligible.
- Bond-Like (30-Yr TIPS) alternative with 3% compound increases and CPI protection.
- The building is under a current demolition order from the City of Miami, the ground tenant is in default.
Executive Summary
DWNTWN Realty Advisors is pleased to present a core Coconut Grove NNN ground-leased investment—offering a fee simple interest in 19,325 square feet of land with a 99-year ground lease (approximately 92 years remaining). The property is improved by a 37,581-square-foot, four-story mixed-use building located at 3120–3138 Commodore Plaza, in the central core of one of Miami’s most revered townships. The long-term lease features 3% annual compound increases and CPI protection, delivering stable, inflation-hedged income in a premier location surrounded by luxury residences, fine dining, and a thriving commercial scene. With substantial in-place income and built-in rent growth, this generational asset offers durable and predictable cash flow with safe-haven characteristics in one of South Florida’s most supply-constrained, high-barrier-to-entry markets.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
37,581 SF
Building Class
C
Year Built
1986
Price
$18,990,000
Price Per SF
$505.31
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.96
Lot Size
0.44 AC
Zoning
T5-O - Transect Zone
Walk Score®
Walker's Paradise (98)
Bike Score®
Very Bikeable (73)
Nearby Major Retailers
Property Taxes
| Parcel Number | 01-4121-032-0009 | Improvements Assessment | $220,301 |
| Land Assessment | $2,482,480 | Total Assessment | $2,702,781 |
Property Taxes
Parcel Number
01-4121-032-0009
Land Assessment
$2,482,480
Improvements Assessment
$220,301
Total Assessment
$2,702,781
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3120-3138 Commodore Plz
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