Free-Standing Retail/Office
For Sale
Contact for pricing
1071 NE 79th St, Miami, FL 33138
Free-standing building on two parcels totaling about 0.30 acres, positioned along the 79th Street Causeway.
Property Size4,990 SF
Lot Size0.30 Acres
Price / SF$1,102
Days on Market158
Property Features for 1071 NE 79th St
General Information
Standard status
Active
Size
4,990 SF
Total Parking Spaces
17
Lot size
0.30 Acres
Property subtype
Office, Retail
Zoning
T5-O
Investment Type
Owner/User
Building Details
Year Built
1953
Buildings
1
Stories
2
Listing Agency:
Blanca Commercial Real Estate, Inc.
Listed By:
Cary Cohen · License #FL SL3069720
(954) 336-9287
Source:
Crexi
Added: Apr 6
Changed: Sep 9
Last Checked: Sep 9 at 5:53AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Blanca Commercial Real Estate, Inc.
Investment Insights
Based on property information with market context.
1071 Plaza is a free-standing commercial property featuring an approximately 4,990-square-foot building situated on two parcels totaling approximately 0.30 acres.
The property is located along the 79th Street Causeway, a corridor connecting the mainland to North Bay Village and Miami Beach.
This configuration supports owner-user use for establishing a presence along the corridor, with the offering centered on the building and its two-parcel site.
The property is located along the 79th Street Causeway, a corridor connecting the mainland to North Bay Village and Miami Beach.
This configuration supports owner-user use for establishing a presence along the corridor, with the offering centered on the building and its two-parcel site.
Key Highlights
- Free‑standing commercial building along the 79th Street Causeway
- Approximately 4,990 SF building size
- Sits on two parcels totaling approximately 0.30 acres
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
$162,802
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
2.96%
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%
$3,256,040
$3.3M
Cap Rate 7%
$2,325,743
$2.3M
Cap Rate 9%
$1,808,911
$1.8M
Market Conditions
NOI Build-Up for 4,990 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
$259.3K $51.96/SF
− Vacancy
−$26.7K −$5.35/SF
EGI
$232.6K $46.61/SF
− OpEx
−$69.8K −$13.98/SF
NOI
$162.8K $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%
$3,256,040
Cap Rate 7%
$2,325,743
Cap Rate 9%
$1,808,911
Alternative Uses
Best Use
Retail
$2.33M
$2.04M – $2.71M
NOI $162,802 @ 7.0% cap · market cap 2.96%
Second Best
Office B
$2.05M
$1.79M – $2.39M
NOI $143,151 @ 7.0% cap · market cap 2.60%
Theoretical Best
Specialty Retail
$3.37M
$2.95M – $3.93M
NOI $235,780 @ 7.0% cap · market cap 4.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,288
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33138, FL
27,601
Population
14,310
Households
1.9
Avg Household Size
43
Median Age
47%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
6,572
Density / Sq Mi
$71,518
Median Household Income
$52,853
Median Earnings
$1,647
Median Rent
$686,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Miami, FL
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Frequently Asked Questions
What type of property is this?
Storefront property - Free-standing building on two parcels totaling about 0.30 acres, positioned along the 79th Street Causeway.
Where is this storefront property located?
The property is located at 1071 NE 79th St Miami, FL.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Free‑standing commercial building along the 79th Street Causeway; Approximately 4,990 SF building size; Sits on two parcels totaling approximately 0.30 acres
