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1627 SW 37th Ave
Miami, FL 33145 Coral Way

$499,900 USD

Apartments Condo For Sale  •  1,107 SF

Property Details

  • Property Type Apartments
  • Total Building Size 1,107 SF
  • Lot Size 0.87 AC
  • Building Class B
  • Year Built 2004
  • Cap Rate 6.00 %
  • Zoning C-1
50 Transit Score
90 Walk Score

1 Unit Available

Name Condo Use Size Price Details
1st Floor - Unit CU-1 Retail 1,107 SF $499,900 USD
  • Unit Size: 1,107 SF
  • Condo Use: Retail
  • Price: $499,900 USD
  • Sale Type: Investment
  • Price/SF: $451.58 USD
Description
Coral Gables prime retail/office condo with over 1,100 SF on Douglas Rd (SW 37 Ave, east side) near SW 16 St. Seller may finance. Mint condition interior with a spacious private inside restroom and a secure storage/coat closet. Bright, efficient layout ideal for professional/medical/creative uses. Central A/C, low operating costs, and well-kept common areas. Currently leased until December 2026 to an excellent tenant—delivering a gross annual income of $45,084 with very low expenses and zero management efforts required.
Offered at an attractive 6% CAP rate with annual increases, ensuring consistent upside for investors. High visibility and easy access to Coral Gables, Brickell, Airport, and major corridors. Solid performer for investors seeking stable, hassle-free cash flow in a blue-chip location! Flexible parking options available. Owners only may rent 1–2 dedicated parking spaces (subject to availability). Convenient guest parking accommodates up to 3 client vehicles only at a time. Additional 20-minute parking is located directly in front of the unit, with ample metered and street parking available across the street!

Sale Notes
PRIME LOCATION
GREAT RETURN WITH 5% ANNUAL INCREASE
LOW MANAGEMENT FEE
SELLER FINANCING

Description 

Coral Gables prime retail/office condo with over 1,100 SF on Douglas Rd (SW 37 Ave, east side) near SW 16 St. Seller may finance. Mint condition interior with a spacious private inside restroom and a secure storage/coat closet. Bright, efficient layout ideal for professional/medical/creative uses. Central A/C, low operating costs, and well-kept common areas. Currently leased until December 2026 to an excellent tenant—delivering a gross annual income of $45,084 with very low expenses and zero management efforts required. Offered at an attractive 6% CAP rate with annual increases, ensuring consistent upside for investors. High visibility and easy access to Coral Gables, Brickell, Airport, and major corridors. Solid performer for investors seeking stable, hassle-free cash flow in a blue-chip location! Flexible parking options available. Owners only may rent 1–2 dedicated parking spaces (subject to availability). Convenient guest parking accommodates up to 3 client vehicles only at a time. Additional 20-minute parking is located directly in front of the unit, with ample metered and street parking available across the street.

Highlights

EXCELLENT LOCATION
5% ANNUAL INCREASE
EASY TO MANAGED
Cap Rate: 6.00 %

Major Tenants

Tenant SF Occupied Lease End Date
Gables View Condominium Association
MJ Estates Inc
Synergy Homecare
Tommy's Moving & Storage

Amenities

  • 24 Hour Access
  • Air Conditioning
  • Cable Ready
  • Clubhouse
  • Concierge
  • Courtyard
  • Fitness Center
  • Pool
  • Doorman
  • Kitchen
  • Tub/Shower
  • Conference Rooms
  • Elevator
  • Built-In Bookshelves
  • Office
  • Wheelchair Accessible (Rooms)
  • Smoke Detector

Public Transportation

Commuter RailDriveWalkDistance
Douglas Road (Metrorail Green Line - Miami-Dade Transit (Metrorail/Metromover)) 4 min - 1.7 mi
Coconut Grove (Metrorail Green Line - Miami-Dade Transit (Metrorail/Metromover)) 5 min - 2.3 mi
AirportDriveWalkDistance
Miami International 20 min - 8.4 mi
Fort Lauderdale/Hollywood International 40 min - 27.3 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 1
Type: Covered
Included in Rent: Yes
Mauricio Jalil 305-984-8693 MJ Estates Inc
Mauricio Jalil 305-984-8693 MJ Estates Inc