Mixed-Use Property with Retail
For Sale
$1,600,000
Pending
1113 NW 79th St, Miami, FL 33150
Commercial Sale, Miami, FL
Property Size2,840 SF
Lot Size0.50 Acres
Days on Market47
Property Features for 1113 NW 79th St
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
6051
Directions
The site is located on an interior lot on the North side of NW 79 St between NW 11th Ave and NW 12th Ave. It has access from both NW 79th Street and NW 11th Ct. NW 79th Street (SR 934) is a major east-west highway in the Miami metropolitan area.
Subdivision
31
Standard status
Pending
APN
30-31-11-000-0160
Lot size
0.50 Acres
Taxes and HOA fees
Tax Description
11 53 41 .50 AC E66FT OF S365FT OF SW1/4 OF SW 1/4 OF NE1/4 LESS S35FT FOR RD LOT SIZE IRREGULAR OR 22699-2811/22900-2156 0904 1 COC 24629-0
Legal Description
11 53 41 .50 AC E66FT OF S365FT OF SW1/4 OF SW 1/4 OF NE1/4 LESS S35FT FOR RD LOT SIZE IRREGULAR OR 22699-2811/22900-2156 0904 1 COC 24629-0
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1931
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Built-Up
Listing Agency:
The Keyes Company
(305) 371-3592
Listed By:
Sonia Diaz · License #3245875
(305) 785-2687
Added: Jul 23
Changed: Sep 3
Last Checked: Sep 7 at 10:06AM
MLS# A12057180
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property includes a 21,780 SF site with a 2,840 ASF retail and office structure. The rectangular parcel measures 66 feet by 330 feet and includes parking area. Existing building features include block construction, ceramic tile flooring, central heating and central air conditioning, a built-up roof, public water, and public sewer. Constructed in 1931, the property has passed its 40 year Recertification.
The site fronts NW 79th Street and also has access from 11th Ct. Its current land use is MIXED USE-STORE\/RESIDENTIAL, with NCUAD- North Central Urban Area District zoning. The property is located within an Opportunity Zone and a Community Redevelopment Area. The source information states that development under the Live Local Act may reach 12 stories and 250 units per acre.
The site fronts NW 79th Street and also has access from 11th Ct. Its current land use is MIXED USE-STORE\/RESIDENTIAL, with NCUAD- North Central Urban Area District zoning. The property is located within an Opportunity Zone and a Community Redevelopment Area. The source information states that development under the Live Local Act may reach 12 stories and 250 units per acre.
Key Highlights
- 21,780 SF site with a 2,840 ASF retail\/office structure
- Rectangular 66' x 330' lot with parking area
- Frontage on NW 79th Street and access from 11th Ct
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$92,657
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.79%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,853,140
$1.9M
Cap Rate 7%
$1,323,671
$1.3M
Cap Rate 9%
$1,029,522
$1.0M
Market Conditions
NOI Build-Up for 2,840 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$147.6K $51.96/SF
− Vacancy
−$15.2K −$5.35/SF
EGI
$132.4K $46.61/SF
− OpEx
−$39.7K −$13.98/SF
NOI
$92.7K $32.63/SF
Area
Miami, FL
Vacancy
10.30%
Lease Rate
$51.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,853,140
Cap Rate 7%
$1,323,671
Cap Rate 9%
$1,029,522
Alternative Uses
Best Use
Retail
$1.32M
$1.16M – $1.54M
NOI $92,657 @ 7.0% cap · market cap 5.79%
Second Best
Office B
$1.16M
$1.02M – $1.36M
NOI $81,473 @ 7.0% cap · market cap 5.09%
Theoretical Best
Specialty Retail
$1.92M
$1.68M – $2.24M
NOI $134,191 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
856
Businesses Nearby
Explore this area
Business Placement
Demographics for 33150, FL
28,703
Population
12,403
Households
2.3
Avg Household Size
37
Median Age
14%
College-Educated
75%
High-School Grad
3.5 sq mi
ZIP Area
8,201
Density / Sq Mi
$40,802
Median Household Income
$32,359
Median Earnings
$1,179
Median Rent
$377,700
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Existing retail and office improvements offer a flexible commercial configuration with central HVAC and public utilities.
Where is this mixed-use property located?
The property is located at 1113 NW 79th St Miami, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 21,780 SF site with a 2,840 ASF retail\/office structure; Rectangular 66' x 330' lot with parking area; Frontage on NW 79th Street and access from 11th Ct
