Renovated Second-Floor Office
For Sale
$395,000
7791 NW 46th St Unit 201, Doral, FL 33166
Modern professional suite with five assigned parking spaces and access to on-site meeting rooms.
Property Size965 SF
Price / SF$409.33
Days on Market40
Property Features for 7791 NW 46th St Unit 201
General Information
Standard status
Active
Size
965 SF
Total Parking Spaces
5
Additional Details
Floor
2
HOA Fee
$780
Highway Access
Yes
Amenities
on-site meeting rooms
Building Details
Year Built
2001
Listing Agency:
X Realty Partners, LLC
(305) 560-3481
Listed By:
Ada E Del Gallego · License #3050649
Source:
Chenoregroup
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 29 at 12:16PM
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 X Realty Partners, LLC
Investment Insights
Based on property information with market context.
This 965 SF office condominium occupies the second floor of Palmetto West Park and was originally delivered in shell condition before receiving recent improvements. The renovated suite offers a clean, contemporary professional setting and is vacant for straightforward showing and occupancy. Built in 2001, the unit includes five assigned parking spaces: 1014, 1015, 3043, 3044, and 3045.
The property is located in Doral with access to the Palmetto Expressway (826), major commercial corridors, and Miami International Airport. Ownership includes access to on-site meeting rooms within the business complex, providing an additional shared amenity for office users.
The property is located in Doral with access to the Palmetto Expressway (826), major commercial corridors, and Miami International Airport. Ownership includes access to on-site meeting rooms within the business complex, providing an additional shared amenity for office users.
Key Highlights
- 965 SF second‑floor office condominium
- Recently improved suite with a clean, modern layout
- Five assigned parking spaces: 1014, 1015, 3043, 3044, and 3045
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
6.48%
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 6.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$489.6K
$428.4K – $571.2K
NOI $34,271 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
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 - Modern professional suite with five assigned parking spaces and access to on-site meeting rooms.
Where is this office units located?
The property is located at 7791 NW 46th St Unit 201 Doral, FL.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 965 SF second‑floor office condominium; Recently improved suite with a clean, modern layout; Five assigned parking spaces: 1014, 1015, 3043, 3044, and 3045
