WOW District Development
For Sale
$3,100,000
2410 NW 7th Court, Miami, FL 33127
Development site with income-producing units and diverse usage options.
Property Size14,400 SF
Lot Size0.33 Acres
Days on Market157
Property Features for 2410 NW 7th Court
General Information
Standard status
Active
Size
14,400 SF
Lot size
0.33 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,830
Building Details
Building Size
14,400 SF
Listing Agency:
Sterling One Realty, Inc.
Listed By:
William R Alvarez · License #0561107
(305) 285-2322
Source:
Silverleafrealtygroup
Added: Apr 2
Changed: Sep 4
Last Checked: Sep 5 at 6:10AM
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 Sterling One Realty, Inc.
Investment Insights
Based on property information with market context.
This development site is located in the WOW District and comprises four parcels totaling 14,400 square feet of land. The property includes a five-unit building, a single-family home, and two vacant lots. The site features frontage on both NW 7 CT and NW 7 PL. All units are currently rented. Permitted uses for the property encompass commercial, industrial, housing, school, warehouse, multifamily, and entertainment purposes. The location has a bike score of 59, indicating it is bikeable, a walk score of 78, signifying it is very walkable, and a transit score of 57, denoting good transit options.
Key Highlights
- Development site in the WOW District with 14,400 SF of land across 4 parcels.
- Two street frontages: NW 7 CT and NW 7 PL.
- Allowed uses include: Commercial, Industrial, Housing, School, Warehouse, Multifamily & Entertainment.
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
$266,017
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
8.58%
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%
$5,320,340
$5.3M
Cap Rate 7%
$3,800,243
$3.8M
Cap Rate 9%
$2,955,744
$3.0M
Market Conditions
NOI Build-Up for 14,400 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
$518.4K $36.00/SF
− Vacancy
−$34.7K −$2.41/SF
EGI
$483.7K $33.59/SF
− OpEx
−$217.7K −$15.11/SF
NOI
$266.0K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
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%
$5,320,340
Cap Rate 7%
$3,800,243
Cap Rate 9%
$2,955,744
Alternative Uses
Best Use
Mixed Use
$4.86M
$4.25M – $5.67M
NOI $340,200 @ 7.0% cap · market cap 10.97%
Second Best
Apartment 5plus
$3.80M
$3.33M – $4.43M
NOI $266,017 @ 7.0% cap · market cap 8.58%
Theoretical Best
Specialty Retail
$9.72M
$8.51M – $11.34M
NOI $680,406 @ 7.0% cap · market cap 21.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,634
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
Market
Vacancy Rate% for Industrial in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Development site with income-producing units and diverse usage options.
Where is this commercial land located?
The property is located at 2410 NW 7th Court Miami, FL.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Development site in the WOW District with **14,400 SF of land** across 4 parcels.; Two street frontages: NW 7 CT and NW 7 PL.; Allowed uses include: Commercial, Industrial, Housing, School, Warehouse, Multifamily & Entertainment.
