Commercial Sale · Restaurant/Entertainment
3138 Coral Way, Miami FL 33145, MIAMI, FL, 33145
Active172 days on marketListed Feb 24, 2026MLS #A11971140
About this property
The property at a glance
Freestanding second-generation restaurant/event commercial building located along Coral Way, a major east-west corridor connecting Coral Gables, Brickell, Coconut Grove, and Downtown Miami. The approximately 7,200± SF property offers excellent visibility, strong street frontage, and prominent signage opportunities. Previously operated as a restaurant and entertainment venue, the building features a flexible high-capacity layout with multiple bar areas, commercial kitchen infrastructure, professional hood system, and upper-level dining and event spaces. Approved occupancy for approximately 217 seats with eligibility for 4COP SFS liquor licensing. The property includes substantial existing commercial infrastructure, with significant prior investment in kitchen systems, lighting, sound equipment, and build-out components designed to support high-capacity hospitality operations. This renovated standalone structure is suitable for a restaurant, hospitality, entertainment, retail, showroom, or adaptive commercial uses. Investment potential includes owner-user occupancy, repositioning, or leasing in a high-demand urban corridor with limited freestanding inventory. The seller may consider owner financing for qualified buyers. Also available for lease. Freestanding Coral Way restaurant/nightlife opportunity with existing kitchen infrastructure, multiple bar areas, strong frontage, and flexible use potential. Also for lease
7,200
Building sq ft
$486
Price / sq ft
5,750
Lot sq ft
1950
Year built
6101
Zoning
Restaurant/Entertainment
Property type
The numbers
Investment snapshot
Income and lease details aren’t published in the MLS for this listing. Ask for the offering memorandum and rent roll to run cap rate, NOI and cash-on-cash.
Estimated payment (illustrative)
Estimated payment
$19,107/mo
Illustrative only. Commercial loans are underwritten on the property’s income (DSCR, cap rate) — typically 25–35% down with lender-set terms. Ask a commercial lender for real numbers. Estimates only — taxes at 1.1%/yr and typical insurance; your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Financing
Commercial financing works differently from a home loan — expect roughly 25–35% down with terms driven by the property’s income and your lender’s underwriting (DSCR, cap rate), not FHA or VA programs. Ask Alek to connect you with a commercial lender for real numbers.
Where it sits
Location & trade area
What’s nearby
Business data © OpenStreetMap contributors
The area
Who's around this property
40,864
Population
$83,194
Median income
43
Median age
2
Avg household
$548,495
Median home value
$1,905/mo
Median rent
4,292
Households w/ kids
Consumer profile
Driven to succeed in the business world, this population seeks to progress in their career through networking happy hours, summits, and connecting with other professionals online.
The party don't stop until the sun comes up. Loud music, crowds, and shots are a recipe for a great night out for these people.
Interested in the finer things life has to offer, this population wants to display their lifestyle by discussing luxury products. Often references jewelry, cars, and home features.
Seeking peace and well-being through meditation, gratitude and spirituality.
These folks are conscious about what they eat. They're looking for ingredients that not only taste great, but also have great nutritional benefits.
Some dance for fitness, others for fun, and a few turn it into a profession. No matter how these people groove to the music, their love for dance is what bonds them.
Recent sales
What actually sold near 3138 Coral Way
The most comparable commercial properties that changed hands nearby. No two are identical — ask us for a full comparative analysis.
$60
5885 SW 73rd St, South Miami FL 33143
Sold Dec 12, 2024
$7,945
3000 Coral Way # 1, Miami FL 33145
Sold Dec 19, 2024
$33
3641 NW 25th St, Miami FL 33142
Sold Mar 1, 2025
Your team
The pros in your corner
Your agent
Alek Cherrone
REALTOR® · CENTURY 21 Edge
Tours, offers, and every question about 3138 Coral Way — start here.
Financing contact
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Ask about commercial financing options for 3138 Coral Way.
See it in person
Schedule a tour
Live availability from Alek's calendar — pick a time and it's booked.
Keep looking
Similar properties nearby
Listing courtesy of TMT Real Estate, LLC. · Alfred Munoz. MLS #A11971140.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Miami Association of REALTORS®.
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