Commercial Land with Retail
For Sale
Under Contract
$1,600,000
Miami, FL 33150, Miami, FL 33150
Land, Miami, FL
Property Size2,840 SF
Lot Size0.50 Acres
Price / SF$563.38
Days on Market47
Property Features
General Information
Property type
Land
Property subtype
Other
Zoning description
6051
Subdivision
NATURE PARK
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.
Standard status
Active Under Contract
APN
30-31-11-000-0160
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2025
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
Tax Annual Amount
18760
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
Utilities
Cable Available
Sewer type
Public Sewer
Water source
Public
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 2:06PM
MLS# A12057426
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 21,780-square-foot commercial land parcel includes a 2,840 ASF retail and office structure. The rectangular lot measures 66 feet by 330 feet and provides an existing paved parking area. The building has recently completed its 40-year recertification, while the property carries a 0.13 floor area ratio.
Access is available from NW 79th Street and 11th Court. The site is designated Mixed Use–Store/Residential and zoned NCUAD (North Central Urban Area District). It is also located within an Opportunity Zone and a Community Redevelopment Area. Public water and public sewer serve the property, and cable service is available. Under the Live Local Act, the site is identified for development of up to 12 stories and 250 units per acre.
Access is available from NW 79th Street and 11th Court. The site is designated Mixed Use–Store/Residential and zoned NCUAD (North Central Urban Area District). It is also located within an Opportunity Zone and a Community Redevelopment Area. Public water and public sewer serve the property, and cable service is available. Under the Live Local Act, the site is identified for development of up to 12 stories and 250 units per acre.
Key Highlights
- 21,780‑square‑foot site with an existing 2,840 ASF retail/office structure
- Rectangular 66' x 330' lot with a 0.13 floor area ratio
- Access from NW 79th Street and 11th Court
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?
Commercial land - Existing retail and office improvements complement a development site with public water and sewer service.
Where is this commercial land located?
The property is located at 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‑square‑foot site with an existing 2,840 ASF retail/office structure; Rectangular 66' x 330' lot with a 0.13 floor area ratio; Access from NW 79th Street and 11th Court
