Fully Leased Neighborhood Strip
For Sale
$4,450,000
4685 NW 7th St, Miami, FL 33126
Corner-lot retail center with T6-8-O zoning along a major east-west arterial in Miami.
Property Size10,800 SF
Days on Market162
Property Features for 4685 NW 7th St
General Information
Standard status
Active
Size
10,800 SF
Property subtype
Retail
Zoning
T6-8-O
Occupancy
100%
Site & Location
Corner Location
Yes
Traffic Count
44,744 vehicles/day
Building Details
Building Size
10,800 SF
Year Built
1972
Tenancy
Multi
Listing Agency:
Fortune Christie's International Real Estate
(786) 399-3192
Listed By:
Maria Miranda · License #3410486
Source:
Miamibrokersgroup
Added: Mar 25
Changed: Aug 31
Last Checked: Sep 1 at 11:31PM
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 Fortune Christie's International Real Estate
Investment Insights
Based on property information with market context.
This 10,800-square-foot neighborhood strip mall was built in 1972 and is fully occupied. The property includes 24 parking spaces and sits on a corner lot along NW 7th Street in Miami, providing a retail-oriented physical setting with established improvements.
The center fronts a major east-west arterial carrying approximately 44,744 vehicles per day. It is approximately 0.5 miles from SR 836, the Dolphin Expressway, and 2 miles from SR 826, the Palmetto Expressway. T6-8-O zoning allows high-density mixed-use development, and the property qualifies under the Live Local Act for affordable and workforce housing. A conceptual affordable or senior housing scenario has been prepared, but no such project is approved.
The center fronts a major east-west arterial carrying approximately 44,744 vehicles per day. It is approximately 0.5 miles from SR 836, the Dolphin Expressway, and 2 miles from SR 826, the Palmetto Expressway. T6-8-O zoning allows high-density mixed-use development, and the property qualifies under the Live Local Act for affordable and workforce housing. A conceptual affordable or senior housing scenario has been prepared, but no such project is approved.
Key Highlights
- 10,800 SF neighborhood strip mall built in 1972
- 100% occupied with in‑place retail tenancy
- Corner‑lot position along NW 7th Street in Miami
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
$352,357
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
7.92%
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%
$7,047,140
$7.0M
Cap Rate 7%
$5,033,671
$5.0M
Cap Rate 9%
$3,915,078
$3.9M
Market Conditions
NOI Build-Up for 10,800 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
$561.2K $51.96/SF
− Vacancy
−$57.8K −$5.35/SF
EGI
$503.4K $46.61/SF
− OpEx
−$151.0K −$13.98/SF
NOI
$352.4K $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%
$7,047,140
Cap Rate 7%
$5,033,671
Cap Rate 9%
$3,915,078
Alternative Uses
Best Use
Retail
$5.03M
$4.40M – $5.87M
NOI $352,357 @ 7.0% cap · market cap 7.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.29M
$6.38M – $8.51M
NOI $510,305 @ 7.0% cap · market cap 11.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
44,744 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,202
Businesses Nearby
Explore this area
Business Placement
Demographics for 33126, FL
48,751
Population
19,725
Households
2.5
Avg Household Size
44
Median Age
28%
College-Educated
77%
High-School Grad
5.4 sq mi
ZIP Area
9,028
Density / Sq Mi
$55,722
Median Household Income
$32,607
Median Earnings
$1,651
Median Rent
$299,800
Median Home Value
Market
Vacancy Rate% for Retail in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Corner-lot retail center with T6-8-O zoning along a major east-west arterial in Miami.
Where is this strip mall located?
The property is located at 4685 NW 7th St Miami, FL.
What is the asking price?
The asking price for this property is $4,450,000.
What are key features of this property?
This property features: 10,800 SF neighborhood strip mall built in 1972; 100% occupied with in‑place retail tenancy; Corner‑lot position along NW 7th Street in Miami
