Versatile Corner Lot in
For Sale
$1,500,000
1550 NW 79th St, Miami, FL 33147
Two-unit property on high-traffic corner lot, ideal for development.
Property Size1,592 SF
Days on Market328
Property Features for 1550 NW 79th St
General Information
Standard status
Active
Size
1,592 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$7,622
Building Details
Building Size
1,592 SF
Year Built
1956
Listing Agency:
Realty One Group Plus
(305) 773-1878
Listed By:
Faisal Awan · License #3255415
Source:
Miamibrokersgroup
Added: Oct 2, 2025
Changed: Aug 23
Last Checked: Aug 25 at 11:16AM
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 Realty One Group Plus
Investment Insights
Based on property information with market context.
This two-unit property is available for sale and offers seller financing. One unit is currently tenant-occupied on a month-to-month basis at $5,000. The property is situated on a fully fenced corner lot with high traffic, making it suitable for various commercial uses. Its location provides excellent visibility and accessibility, presenting an opportunity for retail, office, or mixed-use development in a dynamic area of Miami.
Key Highlights
- Seller financing available
- High‑traffic corner lot with excellent visibility and accessibility
- Tenant‑occupied unit providing $5,000 monthly income
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
$51,940
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
3.46%
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%
$1,038,800
$1.0M
Cap Rate 7%
$742,000
$742.0K
Cap Rate 9%
$577,111
$577.1K
Market Conditions
NOI Build-Up for 1,592 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
$82.7K $51.96/SF
− Vacancy
−$8.5K −$5.35/SF
EGI
$74.2K $46.61/SF
− OpEx
−$22.3K −$13.98/SF
NOI
$51.9K $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%
$1,038,800
Cap Rate 7%
$742,000
Cap Rate 9%
$577,111
Alternative Uses
Best Use
Retail
$742.0K
$649.3K – $865.7K
NOI $51,940 @ 7.0% cap · market cap 3.46%
Second Best
Office B
$652.4K
$570.9K – $761.2K
NOI $45,671 @ 7.0% cap · market cap 3.04%
Theoretical Best
Specialty Retail
$1.07M
$940.3K – $1.25M
NOI $75,223 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
688
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33147, FL
48,823
Population
16,220
Households
3
Avg Household Size
39
Median Age
15%
College-Educated
77%
High-School Grad
7.2 sq mi
ZIP Area
6,781
Density / Sq Mi
$47,728
Median Household Income
$33,385
Median Earnings
$1,359
Median Rent
$301,300
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Two-unit property on high-traffic corner lot, ideal for development.
Where is this storefront property located?
The property is located at 1550 NW 79th St Miami, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Seller financing available; High‑traffic corner lot with excellent visibility and accessibility; Tenant‑occupied unit providing $5,000 monthly income
