Urban Core Commercial
For Sale
$1,000,000
5521 NW 7th Ave, Miami, FL 33127
Urban Core zoning supports commercial, mixed-use, and high-density residential development concepts subject to approvals.
Property Size1,050 SF
Price / SF$952.38
Days on Market48
Property Features for 5521 NW 7th Ave
General Information
Standard status
Active
Size
1,050 SF
Building Details
Year Built
1949
Listing Agency:
Canvas Real Estate
Listed By:
Ernesto Vega · License #0648713
(954) 332-7121
Source:
Chenoregroup
Added: Jul 30
Changed: Sep 10
Last Checked: Sep 14 at 6:43PM
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 Canvas Real Estate
Investment Insights
Based on property information with market context.
This commercial land offering includes a 7,000-square-foot lot improved with a 1,050-square-foot single-story concrete block retail/storefront building constructed in 1949. The existing structure features office space, a main work and retail area, an open-air outdoor venue, two restrooms, commercial A/C, and a fenced lot. The property is designated Zone X for flood purposes.
T6-8-O Urban Core zoning supports a range of commercial, mixed-use, and high-density residential possibilities subject to municipal approvals. The zoning allows development up to 8 stories by right, with potential additional height through applicable public-benefit provisions. The existing building provides an immediate owner-user or investor configuration, while the lot and zoning support consideration of future redevelopment concepts.
T6-8-O Urban Core zoning supports a range of commercial, mixed-use, and high-density residential possibilities subject to municipal approvals. The zoning allows development up to 8 stories by right, with potential additional height through applicable public-benefit provisions. The existing building provides an immediate owner-user or investor configuration, while the lot and zoning support consideration of future redevelopment concepts.
Key Highlights
- 7,000 SF lot improved with a 1,050 SF concrete block retail/storefront building
- T6‑8‑O Urban Core zoning supports commercial, mixed‑use, and high‑density residential possibilities subject to approvals
- Zoning allows up to 8 stories by right, with potential additional height through applicable public‑benefit provisions
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
$34,257
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
3.43%
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%
$685,140
$685.1K
Cap Rate 7%
$489,386
$489.4K
Cap Rate 9%
$380,633
$380.6K
Market Conditions
NOI Build-Up for 1,050 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
$54.6K $51.96/SF
− Vacancy
−$5.6K −$5.35/SF
EGI
$48.9K $46.61/SF
− OpEx
−$14.7K −$13.98/SF
NOI
$34.3K $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%
$685,140
Cap Rate 7%
$489,386
Cap Rate 9%
$380,633
Alternative Uses
Best Use
Retail
$489.4K
$428.2K – $571.0K
NOI $34,257 @ 7.0% cap · market cap 3.43%
Second Best
Office B
$430.3K
$376.5K – $502.0K
NOI $30,122 @ 7.0% cap · market cap 3.01%
Theoretical Best
Specialty Retail
$708.8K
$620.2K – $826.9K
NOI $49,613 @ 7.0% cap · market cap 4.96%
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
1,570
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
Median Home Value
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Market
Vacancy Rate% for Office in Miami, FL
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Frequently Asked Questions
What type of property is this?
Commercial land - Urban Core zoning supports commercial, mixed-use, and high-density residential development concepts subject to approvals.
Where is this commercial land located?
The property is located at 5521 NW 7th Ave Miami, FL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 7,000 SF lot improved with a 1,050 SF concrete block retail/storefront building; T6‑8‑O Urban Core zoning supports commercial, mixed‑use, and high‑density residential possibilities subject to approvals; Zoning allows up to 8 stories by right, with potential additional height through applicable public‑benefit provisions
