Office Building with Central
For Sale
$1,990,000
13242 NW 7th Ave, North Miami, FL 33168
SINGLE_FAMILY - Other - North Miami, FL
Property Size5,357 SF
Lot Size0.55 Acres
Price / SF$371.48
Days on Market183
Property Features for 13242 NW 7th Ave
General Information
Property type
Residential
Property subtype
Retail
Zoning description
6600
Subdivision
21
Standard status
Active
APN
06-21-26-020-0280
Lot size
0.55 Acres
Taxes and HOA fees
Tax Description
26 52 41 DE PAULY HGTS PB 49-8 LOTS 8 THRU 11 LESS E110FT & LOTS 12 THRU 17 BLK 2 LOT SIZE 23791 SQ FT M/L FAU 06 2126 020 0290
Legal Description
26 52 41 DE PAULY HGTS PB 49-8 LOTS 8 THRU 11 LESS E110FT & LOTS 12 THRU 17 BLK 2 LOT SIZE 23791 SQ FT M/L FAU 06 2126 020 0290
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1949
Number of units
1
Flooring type
Carpet, Tile - Ceramic
Building materials
Block
Roof type
Composition, Wood
Architectural style
Other
Listing Agency:
The Keyes Company
(305) 443-7423
Listed By:
Carlos Villanueva JR · License #0638148
(305) 772-3897
Added: Feb 10
Changed: Aug 1
Last Checked: Aug 12 at 6:06PM
MLS# A11878179
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 office building offers a flexible footprint in a 5,357 SF structure built in 1949. Constructed with block, the building includes a mix of carpet and ceramic tile flooring, with central air cooling and central heating powered by electric heating. The property is supported by public water and public sewer service. Roofing is described as composition and wood.
The site sits on a 0.5462-acre lot and is zoned C-1, offering a straightforward framework for office users or redevelopment. The property address is 13242 NW 7th Ave in North Miami, FL 33168, in Miami-Dade County.
The site sits on a 0.5462-acre lot and is zoned C-1, offering a straightforward framework for office users or redevelopment. The property address is 13242 NW 7th Ave in North Miami, FL 33168, in Miami-Dade County.
Key Highlights
- 5,357 SF office building
- Built in 1949
- 0.5462‑acre lot
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
$141,987
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
7.14%
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%
$2,839,740
$2.8M
Cap Rate 7%
$2,028,386
$2.0M
Cap Rate 9%
$1,577,633
$1.6M
Market Conditions
NOI Build-Up for 5,357 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
$244.3K $45.60/SF
− Vacancy
−$55.0K −$10.26/SF
EGI
$189.3K $35.34/SF
− OpEx
−$47.3K −$8.84/SF
NOI
$142.0K $26.51/SF
Area
Miami-Dade County, FL
Vacancy
22.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
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%
$2,839,740
Cap Rate 7%
$2,028,386
Cap Rate 9%
$1,577,633
Alternative Uses
Best Use
Office B
$2.03M
$1.77M – $2.37M
NOI $141,987 @ 7.0% cap · market cap 7.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.72M
$2.38M – $3.17M
NOI $190,248 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
774
Businesses Nearby
Explore this area
Business Placement
Demographics for 33168, FL
24,715
Population
6,761
Households
3.7
Avg Household Size
39
Median Age
16%
College-Educated
79%
High-School Grad
3.6 sq mi
ZIP Area
6,865
Density / Sq Mi
$58,636
Median Household Income
$31,984
Median Earnings
$1,576
Median Rent
$329,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Central air office building on a block foundation, built in 1949 and zoned C-1.
Where is this office building located?
The property is located at 13242 NW 7th Ave North Miami, FL.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: 5,357 SF office building; Built in 1949; 0.5462‑acre lot
