Penthouse Office
New
For Sale
$5,700,000
4770 Biscayne Blvd #PH000, Miami, FL 33137
Upper-floor workspace offers Biscayne Bay and Downtown Brickell views, with covered parking and round-the-clock building access.
Property Size12,419 SF
Price / SF$458.97
Days on Market2
Property Features for 4770 Biscayne Blvd #PH000
General Information
Standard status
Active
Size
12,419 SF
Elevators
Yes
Property subtype
Commercial
Additional Details
Floor
Penthouse
Highway Access
Yes
Office Units
1
Amenities
24-hour building access and security
modernized common areas
upgraded lighting
contemporary lobby
impact windows and doors
waterviews
Central air
Assigned
Central Air Cooling
Central Heating
Electric Heating
Hardwood Flooring
Marble Flooring
Slate Flooring
Wood Flooring
Building Details
Year Built
1981
Buildings
1
Stories
15
Listing Agency:
COLDWELL BANKER REALTY
Listed By:
VANESSA DEFREITAS-HANSEN · License #A12097994
(954) 384-0099
Source:
Corcoran
Added: Sep 30
Changed: Oct 1
Last Checked: Oct 1 at 2:07PM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
The penthouse office condominium contains 12,419 sf on the upper floor of a 15-story office building. Its expansive floorplate can accommodate a range of office configurations, and many offices have water or city views. Recent building improvements include updated systems, smart elevators, refreshed common areas, upgraded lighting, a contemporary lobby, and impact-rated windows and doors.
The building provides 24-hour access and security, along with covered parking. It is near I-195 and major Miami transportation corridors, with the Design District, Wynwood, and Brickell in close proximity.
The building provides 24-hour access and security, along with covered parking. It is near I-195 and major Miami transportation corridors, with the Design District, Wynwood, and Brickell in close proximity.
Key Highlights
- 12,419 sf penthouse office condominium
- Upper‑floor offices with views of Biscayne Bay and Downtown Brickell
- 15‑story office building with recently updated systems, smart elevators, and modernized common areas
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
$356,270
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
6.25%
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%
$7,125,400
$7.1M
Cap Rate 7%
$5,089,571
$5.1M
Cap Rate 9%
$3,958,556
$4.0M
Market Conditions
NOI Build-Up for 12,419 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
$558.9K $45.00/SF
− Vacancy
−$83.8K −$6.75/SF
EGI
$475.0K $38.25/SF
− OpEx
−$118.8K −$9.56/SF
NOI
$356.3K $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%
$7,125,400
Cap Rate 7%
$5,089,571
Cap Rate 9%
$3,958,556
Alternative Uses
Best Use
Office B
$5.09M
$4.45M – $5.94M
NOI $356,270 @ 7.0% cap · market cap 6.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.38M
$7.34M – $9.78M
NOI $586,803 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,035
Businesses Nearby
Explore this area
Business Placement
Demographics for 33137, FL
25,763
Population
15,237
Households
1.7
Avg Household Size
37
Median Age
51%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
12,882
Density / Sq Mi
$82,798
Median Household Income
$53,519
Median Earnings
$2,338
Median Rent
$532,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Miami, FL
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Frequently Asked Questions
What type of property is this?
Office units - Upper-floor workspace offers Biscayne Bay and Downtown Brickell views, with covered parking and round-the-clock building access.
Where is this office units located?
The property is located at 4770 Biscayne Blvd #PH000 Miami, FL.
What is the asking price?
The asking price for this property is $5,700,000.
What are key features of this property?
This property features: 12,419 sf penthouse office condominium; Upper‑floor offices with views of Biscayne Bay and Downtown Brickell; 15‑story office building with recently updated systems, smart elevators, and modernized common areas
