MLS Active Commercial Improved Property Listings in Miami’s Coconut Grove Zip Code 33133 January 2010 to July 2015
The number of MLS active commercial improved property listings in zip code 33133, which is the zip code for Miami’s Coconut Grove, has steadily declined since 2012, as can be seen in the accompanying chart. This is counter intuitive given the high level of real estate activity in the area in the past couple of years, most notably the construction of new premium condos.
This activity, however, has been more in the residential area, with a few larger commercial transactions taking place, but seemingly less transactions in the aggregate. Offerings overall have tapered off for the rest of the Grove as its commercial areas remain largely unchanged, perhaps constrained by a lack of sufficient commerce to fuel office or retail growth, ownership by numbers of exceedingly patient investors, and a well earned reputation as activist anti-development population that remains in touch with its artist colony heritage. Nevertheless, it remains surprising.
Notable among the active commercial property listings in Coconut Grove today are a retail building listed at$7.5 million and an office building at $3.5 million on South Dixie Highway, a set of 33 condos, both commercial and residential, smack in the heart of Coconut Grove, and an “abandoned before it was ever put to use” (those activists at work, read here) newly built building on 37th Avenue listed at nearly $3.8 million.
In the coming years, the demographic analysis and projection company Geolytics is projecting (view report) household composition and ownership percentages to remain relatively unchanged. They anticipate the population will increase from as estimated 32,564 in 2014 to 34,128 by 2019. Interestingly, and surprisingly, they project median income in Coconut Grove’s zip code 33133 to fall a bit during this same period.
Related Resources:
- CoconutGrove.com
- Wikipedia
- Coconut Grove Grapevine Blog
- Chamber of Commerce
- Waterfront Master Plan
- Village Council
- Village of Center Grove Association
- Coconut Grove Arts Festival
- Collaborative Development Corp
- Demographics and Economic Data and Projections
- Commercial Property & Vacant Land Listings
- The Mayfair
- Cocowalk
- Dinner Key Marina
- Viscaya Museum & Gardens
- The Kampong
- Crime Watch
- Information Pages for Commercial Properties in Coconut Grove Zip Code 33133