Biscayne Boulevard Office
For Sale
$420,000
4770 Biscayne Blvd 620, Miami, FL 33137
Prime commercial office space with Biscayne Bay views.
Property Size752 SF
Days on Market103
Property Features for 4770 Biscayne Blvd 620
General Information
Standard status
Active
Size
752 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,862
Building Details
Building Size
752 SF
Year Built
1982
Stories
1
Units
1
Listing Agency:
Stellar Realty Group
(954) 729-9770
Listed By:
Larry A Rothenberg
(954) 729-9770
Source:
Elliman
Added: May 21
Changed: Aug 25
Last Checked: Aug 30 at 7:57PM
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 Stellar Realty Group
Investment Insights
Based on property information with market context.
This commercial office space is located on Biscayne Boulevard in Miami, offering high visibility and convenient access to major transportation routes, including I-95 and the Julia Tuttle Causeway. The building is well-maintained and features contemporary amenities, creating a professional and productive work environment. The property has 24-hour access and air conditioning. The location has a Walk Score of 98, indicating it is a Walker's Paradise. The Bike Score is 71, indicating it is Very Bikeable. The Transit Score is 51, indicating Good Transit. Unit 620 offers views of Biscayne Bay.
Key Highlights
- Prime Location on Biscayne Boulevard with High Visibility
- Stunning Biscayne Bay Views**
- Walker's Paradise (Walk Score of 98)
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
$21,573
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
5.14%
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%
$431,460
$431.5K
Cap Rate 7%
$308,186
$308.2K
Cap Rate 9%
$239,700
$239.7K
Market Conditions
NOI Build-Up for 752 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
$33.8K $45.00/SF
− Vacancy
−$5.1K −$6.75/SF
EGI
$28.8K $38.25/SF
− OpEx
−$7.2K −$9.56/SF
NOI
$21.6K $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%
$431,460
Cap Rate 7%
$308,186
Cap Rate 9%
$239,700
Alternative Uses
Best Use
Office B
$308.2K
$269.7K – $359.6K
NOI $21,573 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$507.6K
$444.2K – $592.2K
NOI $35,532 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Prime commercial office space with Biscayne Bay views.
Where is this office units located?
The property is located at 4770 Biscayne Blvd 620 Miami, FL.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Prime Location on Biscayne Boulevard with High Visibility; Stunning Biscayne Bay Views**; Walker's Paradise (Walk Score of 98)
