Doral Ground Level Office
For Sale
$389,000
7791 NW 46th St 104, Doral, FL 33166
Office suite in Palmetto West Park lll, Doral, Florida.
Property Size965 SF
Days on Market137
Property Features for 7791 NW 46th St 104
General Information
Standard status
Active
Size
965 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,758
Building Details
Building Size
965 SF
Year Built
2001
Stories
4
Listing Agency:
Cornerstone Intl. Realty, LLC
Listed By:
Camilo Franco · License #3238665
(305) 720-3485
Source:
Elliman
Added: Apr 24
Changed: Sep 2
Last Checked: Sep 6 at 9:24AM
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 Cornerstone Intl. Realty, LLC
Investment Insights
Based on property information with market context.
This ground-level office suite is located in Palmetto West Park lll. The suite features two private offices and an additional room suitable for use as a conference room, record room, or private workstation. An open floor component allows for flexible tenant design. The suite has been freshly painted and includes new vinyl flooring. The office building offers a grand entrance lobby, a common conference room area, a restaurant cafe, and ample parking. The location has a bike score of 42, indicating it is somewhat bikeable, a walk score of 57, indicating it is somewhat walkable, and a transit score of 40, indicating some transit options are available.
Key Highlights
- Ground level office suite.
- Two private offices plus additional flexible space.
- Freshly painted with new vinyl flooring.
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
$25,577
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
6.58%
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%
$511,540
$511.5K
Cap Rate 7%
$365,386
$365.4K
Cap Rate 9%
$284,189
$284.2K
Market Conditions
NOI Build-Up for 965 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
$44.0K $45.60/SF
− Vacancy
−$9.9K −$10.26/SF
EGI
$34.1K $35.34/SF
− OpEx
−$8.5K −$8.84/SF
NOI
$25.6K $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%
$511,540
Cap Rate 7%
$365,386
Cap Rate 9%
$284,189
Alternative Uses
Best Use
Office B
$365.4K
$319.7K – $426.3K
NOI $25,577 @ 7.0% cap · market cap 6.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$489.6K
$428.4K – $571.2K
NOI $34,271 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,044
Businesses Nearby
Explore this area
Business Placement
Demographics for 33166, FL
26,106
Population
10,838
Households
2.4
Avg Household Size
41
Median Age
42%
College-Educated
83%
High-School Grad
7.9 sq mi
ZIP Area
3,305
Density / Sq Mi
$78,166
Median Household Income
$39,744
Median Earnings
$1,766
Median Rent
$489,200
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 units - Office suite in Palmetto West Park lll, Doral, Florida.
Where is this office units located?
The property is located at 7791 NW 46th St 104 Doral, FL.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Ground level office suite.; Two private offices plus additional flexible space.; Freshly painted with new vinyl flooring.
