Miami Assemblage
For Sale
$3,975,000
Pending
1901 NW 7th St, Miami, FL 33125
Four contiguous parcels near Miami River with redevelopment potential.
Property Size7,194 SF
Lot Size0.17 Acres
Days on Market156
Property Features for 1901 NW 7th St
General Information
Standard status
Pending
Size
7,194 SF
Lot size
0.17 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$20,167
Building Details
Building Size
7,194 SF
Year Built
1968
Listing Agency:
Dalton Wade
(754) 715-0727
Listed By:
Julie Brito · License #3117326
(754) 715-0727
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 6:21AM
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 Dalton Wade
Investment Insights
Based on property information with market context.
This assemblage opportunity is located in Miami’s urban core and includes four contiguous parcels: 710 NW 19th Ave, 720 NW 19th Ave, 1901 NW 7th St, and 711 NW 19th Ct. The properties are situated just west of the Miami River, near Marlins Park and the Civic Center District. The assemblage comprises two commercial buildings, one full residential lot, and one half residential lot permitted for commercial parking. A long-standing tenant, a church, occupies 710 NW 19th Ave on a month-to-month basis at $4,600 per month. The assemblage benefits from a 40-year inspection completed in 2022 and a new roof installed in 2021. City-approved development plans for a mixed-use project of up to 80 units with ground-floor retail are available for review. This presents an excellent opportunity for redevelopment or income generation with the existing tenant in place.
Key Highlights
- Assemblage of four contiguous parcels in Miami's urban core.
- City‑approved development plans for a mixed‑use project of up to 80 units with ground‑floor retail.
- Located near Marlins Park and the Civic Center District.
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
$234,709
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
5.90%
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%
$4,694,180
$4.7M
Cap Rate 7%
$3,352,986
$3.4M
Cap Rate 9%
$2,607,878
$2.6M
Market Conditions
NOI Build-Up for 7,194 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
$373.8K $51.96/SF
− Vacancy
−$38.5K −$5.35/SF
EGI
$335.3K $46.61/SF
− OpEx
−$100.6K −$13.98/SF
NOI
$234.7K $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%
$4,694,180
Cap Rate 7%
$3,352,986
Cap Rate 9%
$2,607,878
Alternative Uses
Best Use
Retail
$3.35M
$2.93M – $3.91M
NOI $234,709 @ 7.0% cap · market cap 5.90%
Second Best
Mixed Use
$2.43M
$2.12M – $2.83M
NOI $169,958 @ 7.0% cap · market cap 4.28%
Theoretical Best
Specialty Retail
$4.86M
$4.25M – $5.67M
NOI $339,920 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,737
Businesses Nearby
Explore this area
Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
Median Home Value
Market
Vacancy Rate% for Retail in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four contiguous parcels near Miami River with redevelopment potential.
Where is this mixed-use property located?
The property is located at 1901 NW 7th St Miami, FL.
What is the asking price?
The asking price for this property is $3,975,000.
What are key features of this property?
This property features: Assemblage of four contiguous parcels in Miami's urban core.; City‑approved development plans for a mixed‑use project of up to 80 units with ground‑floor retail.; Located near Marlins Park and the Civic Center District.
