Updated Office Building For
For Sale
$3,150,000
Pending
9440 SW 77th Ave, Miami, FL 33156
Two-story office building with updates, suitable for various professional businesses.
Property Size5,000 SF
Lot Size0.29 Acres
Days on Market97
Property Features for 9440 SW 77th Ave
General Information
Standard status
Pending
Size
5,000 SF
Lot size
0.29 Acres
Property subtype
Commercial
Building Details
Year Built
1988
Listing Agency:
BHHS EWM Realty
(305) 329-7744
Listed By:
Drew Kern · License #0628522
(305) 329-7744
Source:
Elliman
Added: May 16
Changed: Jul 10
Last Checked: Jul 23 at 5:44AM
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 BHHS EWM Realty
Investment Insights
Based on property information with market context.
This two-story professional office building, constructed in 1988 with a second-floor addition in 2005, offers over 5,000 square feet of office space. The building is currently occupied by an insurance company and is suitable for medical, real estate, or other professional businesses. The first floor features a reception area, an open space suitable for cubicles, five offices, two bathrooms, and a kitchen/breakroom. The second floor includes a conference room, an additional open office area, a second kitchen/break room, and two more bathrooms. An elevator and impact windows/doors are included. Furniture is negotiable. The property is situated on a 12,775 square foot lot with manicured landscaping and includes 15 parking spaces. A diesel-powered backup generator is present. The location is near similar businesses and major roadways, including the Palmetto Expressway, Dadeland Mall, Downtown Dadeland, Pinecrest, and Baptist Hospital.
Key Highlights
- Over 5,000 sq ft of updated office space suitable for various professional businesses.
- Excellent location near major roadways, businesses, Dadeland Mall, Downtown Dadeland, Pinecrest, and Baptist Hospital.
- Expansive 12,775 sq ft lot with manicured landscaping and 15 parking spaces.
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
$143,438
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
4.55%
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%
$2,868,760
$2.9M
Cap Rate 7%
$2,049,114
$2.0M
Cap Rate 9%
$1,593,756
$1.6M
Market Conditions
NOI Build-Up for 5,000 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
$225.0K $45.00/SF
− Vacancy
−$33.8K −$6.75/SF
EGI
$191.3K $38.25/SF
− OpEx
−$47.8K −$9.56/SF
NOI
$143.4K $28.69/SF
Area
Miami, FL
Vacancy
15.00%
Lease Rate
$45.00 /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%
$2,868,760
Cap Rate 7%
$2,049,114
Cap Rate 9%
$1,593,756
Alternative Uses
Best Use
Office B
$2.05M
$1.79M – $2.39M
NOI $143,438 @ 7.0% cap · market cap 4.55%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.38M
$2.95M – $3.94M
NOI $236,252 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,588
Businesses Nearby
Explore this area
Business Placement
Demographics for 33156, FL
34,036
Population
13,215
Households
2.6
Avg Household Size
42
Median Age
66%
College-Educated
97%
High-School Grad
13.9 sq mi
ZIP Area
2,449
Density / Sq Mi
$134,720
Median Household Income
$66,117
Median Earnings
$1,936
Median Rent
$1,063,100
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?
Office building - Two-story office building with updates, suitable for various professional businesses.
Where is this office building located?
The property is located at 9440 SW 77th Ave Miami, FL.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: Over 5,000 sq ft of updated office space suitable for various professional businesses.; Excellent location near major roadways, businesses, Dadeland Mall, Downtown Dadeland, Pinecrest, and Baptist Hospital.; Expansive 12,775 sq ft lot with manicured landscaping and 15 parking spaces.
