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Miami Design District Investment 3620 NE 2nd Ave 5,385 SF Vacant Retail Building Miami, FL 33137 $9,500,000 ($1,764.16/SF) 8.36% Cap Rate
INVESTMENT HIGHLIGHTS
- Miami Design District Investment Opportunity
- High Barrier to entry High Street submarket
- Quality In Place and Outsized projected Returns
EXECUTIVE SUMMARY
DWNTWN Realty Advisors has been exclusively retained to arrange the sale of 3620 NE 2nd Avenue, a two-parcel offering located at the gateway to the Miami Design District. This high-profile asset features four active retail and creative office suites, including Peppi’s Pizza and the Miami Tropic Sales Center, both of which contribute to the property’s strong in-place activation. Situated in a high-traffic corridor surrounded by transformative developments—such as the proposed 48-story luxury tower at 3501 NE 1st Avenue—this offering stands at the center of one of Miami’s fastest-growing cultural and commercial hubs. Zoned T6-12-O, the site allows for mixed-use development up to 12 stories, providing significant long-term upside. With rare on-site parking, excellent frontage, and exposure in a supply-constrained submarket, this is a high-barrier-to-entry investment opportunity positioned to deliver outsized returns in both income and future redevelopment value.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
5,385 SF
Building Class
C
Year Built
1921
Price
$9,500,000
Price Per SF
$1,764.16
Cap Rate
8.36%
NOI
$794,200
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.87
Lot Size
0.14 AC
Zoning
T6-12-O - Urban Core T6-12-O
Frontage
32’ on 2nd Ave
AMENITIES
- Signage
- Air Conditioning
Walk Score®
Walker's Paradise (98)
Bike Score®
Very Bikeable (73)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 01-3124-022-0030 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $4,675,000 |
PROPERTY TAXES
Parcel Number
01-3124-022-0030
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$4,675,000
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Miami Design District Investment | 3620 NE 2nd Ave
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