A Property for sale in the heart of Downtown Miami

For sale


Property ID

12,585 SqFt



Marcus & Millichap is pleased to exclusively offer the sale of a property in Downtown Miami.

The property consists of a 3-Story Retail/Office building.

With a gross leasable area totaling 12,585 square feet and a lot size of 5,000 square feet.​

This property presents a unique opportunity for both an investor and owner-user to acquire an asset in the heart of Downtown Miami, Florida.​

The property is within short walking distance to Downtown Miami’s major office buildings, dining and nightlife spots and cultural attractions.

Which offering the ability to cater to business and leisure-oriented travelers.​

The subject property is located just off the intersection of NE 1st Avenue & NE 1st Street.​

It has approximately 50 feet of frontage along NE 1st Avenue, giving it easy visibility and curb appeal, with vehicular traffic counts amounting to an average of 14,000 vehicles per day.​

Downtown is beginning to emerge as the next trendy neighborhood.​

With the amount of undergoing development projects, influx of new residents and rising rental rates.

This site is a prime opportunity to capitalize as Downtown continues to evolve and flourish.​

The area consists of a total population of 235,609 within a 3-mile radius and walking distance to multiple rail stations.

Which offers rail access throughout Miami-Dade County.​

The Brightline’s future expansion will stretch all the way to Orlando, FL, completely changing the way people travel to and shop in downtown Miami.​

Additionally, the property is zoned as T6-80-O.

Which permits the construction of up to 80 stories, presenting the investor with the opportunity for future highest and best use development.​


  • ​ 3-Story Adaptive Reuse Opportunity
  • ​In the Heart of Downtown Miami off of 1st & 1st
  • ​Just Minutes from Brightline and MetroMover Rail stations
  • ​T6-80-O Zoning Allowing Up to 80 Stories
  • ​Month-to-Month Tenants
  • ​Close Access to US-1 & I-95

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Address: 128 NE 1st Ave, Miami, FL 33132
  • Country: United States
  • Province / State: Florida
  • City / Town: Miami
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  • Property ID 3469
  • Price $4,999,000
  • Property Type Retail
  • Property status For sale
  • Year Built 1937
  • Size 12,585 SqFt
  • Zoning T6-80-O
  • Lot Area 5,000(sq ft)
  • Price Per Sqft $397.22
  • Subtype Storefront
  • Investment Type Owner/User
  • Tenancy Vacant
  • Net Rentable (sq ft) 12,585
  • Pro-Forma Cap Rate 5.51%
  • Pro-Forma NOI $275,534
  • Average Rent/Sq Ft $34
  • Stories 3
  • Ownership fee-Simple


Zena Bardawell Farah

Property Agent
+1 305-967-7200
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