Mixed-Use Investment with Two
For Sale
$1,200,000
2244 Northwest 7th Street, Miami, FL 33125
Two contiguous parcels are conveyed as a single package, with a fully leased office building plus apartments and a house.
Property Size1,936 SF
Price / SF$619.83
Days on Market518
Property Features for 2244 Northwest 7th Street
General Information
Standard status
Active
Size
1,936 SF
Property subtype
Commercial Sale / Mixed Use
Zoning
T6-8-0
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$14,452
Amenities
No
Building Details
Year Built
1926
Tenancy
Multi
Listing Agency:
A Plus Realty Group, Corp
Listed By:
Wilmer Garcia · License #3628507
(786) 344-2269
Source:
Compass
Added: Apr 7, 2025
Changed: Aug 8
Last Checked: Jul 28 at 2:01PM
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 A Plus Realty Group, Corp
Investment Insights
Based on property information with market context.
This income-generating mixed-use offering consists of two contiguous parcels that are sold together as a single package, despite being listed separately under folios 01-4103-029-0080 and 01-4103-029-0070. Parcel .0080 includes a fully leased office building along with one-bedroom and studio apartments, generating monthly income across multiple units. Parcel .0070 features a 3-bed/1-bath house plus a studio and two one-bedroom apartments. Combined monthly income totals $19,090.
Zoning is T6-8-0, which permits mixed-use development and provides future redevelopment potential. The property is offered at 2244 Northwest 7th Street, Miami, FL 33125.
For convenience, the unit mix is specifically structured across office space, apartments, and a house, creating a diversified stream of rental income within the same combined parcel package. Contact the listing agent for full financials and showing instructions.
Zoning is T6-8-0, which permits mixed-use development and provides future redevelopment potential. The property is offered at 2244 Northwest 7th Street, Miami, FL 33125.
For convenience, the unit mix is specifically structured across office space, apartments, and a house, creating a diversified stream of rental income within the same combined parcel package. Contact the listing agent for full financials and showing instructions.
Key Highlights
- 1926 mixed‑use property on two contiguous parcels conveyed as one package (folios 01‑4103‑029‑0080 & 01‑4103‑029‑0070).
- Parcel .0080 is fully leased with a leased office building ($8,240/mo), 1BD ($2,000/mo), and studio ($1,100/mo).
- Parcel .0070 includes a 3BD/1BA house ($2,500/mo), a studio ($1,250/mo), and two 1BD apartments ($2,000/mo each).
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
$55,539
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
4.63%
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%
$1,110,780
$1.1M
Cap Rate 7%
$793,414
$793.4K
Cap Rate 9%
$617,100
$617.1K
Market Conditions
NOI Build-Up for 1,936 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
$87.1K $45.00/SF
− Vacancy
−$13.1K −$6.75/SF
EGI
$74.1K $38.25/SF
− OpEx
−$18.5K −$9.56/SF
NOI
$55.5K $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%
$1,110,780
Cap Rate 7%
$793,414
Cap Rate 9%
$617,100
Alternative Uses
Best Use
Office B
$793.4K
$694.2K – $925.7K
NOI $55,539 @ 7.0% cap · market cap 4.63%
Second Best
Mixed Use
$653.4K
$571.7K – $762.3K
NOI $45,738 @ 7.0% cap · market cap 3.81%
Theoretical Best
Specialty Retail
$1.31M
$1.14M – $1.52M
NOI $91,477 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,396
Businesses Nearby
Explore this area
Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
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?
Mixed-use property - Two contiguous parcels are conveyed as a single package, with a fully leased office building plus apartments and a house.
Where is this mixed-use property located?
The property is located at 2244 Northwest 7th Street Miami, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 1926 mixed‑use property on two contiguous parcels conveyed as one package (folios 01‑4103‑029‑0080 & 01‑4103‑029‑0070).; Parcel .0080 is fully leased with a leased office building ($8,240/mo), 1BD ($2,000/mo), and studio ($1,100/mo).; Parcel .0070 includes a 3BD/1BA house ($2,500/mo), a studio ($1,250/mo), and two 1BD apartments ($2,000/mo each).
