Oceanfront Retail-Office
For Sale
$399,000
5005 Collins Ave # C2, Miami Beach, FL 33140
Versatile suite currently used as a real estate office with one assigned parking space and building amenity access.
Property Size455 SF
Price / SF$876.92
Days on Market52
Property Features for 5005 Collins Ave # C2
General Information
Standard status
Active
Size
455 SF
Total Parking Spaces
1
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$5,169
Building Details
Building Size
455 SF
Year Built
1964
Owner Occupied
Yes
Listing Agency:
Avant International Realty, LLC
Listed By:
Stephen Ortiz · License #3266633
(786) 285-2070
Source:
Miamibrokersgroup
Added: Jul 26
Changed: Sep 10
Last Checked: Sep 14 at 7:33AM
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 Avant International Realty, LLC
Investment Insights
Based on property information with market context.
This oceanfront commercial suite is currently operated as a real estate office and offers flexibility for approved alternative uses, including retail, professional office, personal service, or café. The space includes access to building amenities and comes with one assigned parking space, with additional parking available for rent through management.
The seller indicates maintenance covers A/C bills/maintenance and all utilities except interior FPL electric, estimated at approximately $45 per month. The owner is currently occupied, and the listing notes that it is easy to show, with sellers flexible on closing time.
For buyers, the seller is also open to considering seller financing depending on terms. The seller will pay the assessment at closing.
The seller indicates maintenance covers A/C bills/maintenance and all utilities except interior FPL electric, estimated at approximately $45 per month. The owner is currently occupied, and the listing notes that it is easy to show, with sellers flexible on closing time.
For buyers, the seller is also open to considering seller financing depending on terms. The seller will pay the assessment at closing.
Key Highlights
- Versatile commercial suite (455 SF) currently used as a real estate office
- Leaseholder can seek approval for retail, professional office, personal service, or cafe use
- 1 assigned parking space included; additional parking available for rent through management
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
$12,060
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
3.02%
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%
$241,200
$241.2K
Cap Rate 7%
$172,286
$172.3K
Cap Rate 9%
$134,000
$134.0K
Market Conditions
NOI Build-Up for 455 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
$20.7K $45.60/SF
− Vacancy
−$4.7K −$10.26/SF
EGI
$16.1K $35.34/SF
− OpEx
−$4.0K −$8.84/SF
NOI
$12.1K $26.51/SF
Area
Miami-Dade County, FL
Vacancy
22.50%
Lease Rate
$45.60 /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%
$241,200
Cap Rate 7%
$172,286
Cap Rate 9%
$134,000
Alternative Uses
Best Use
Office B
$172.3K
$150.8K – $201.0K
NOI $12,060 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$230.8K
$202.0K – $269.3K
NOI $16,159 @ 7.0% cap · market cap 4.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
Explore this area
Business Placement
Demographics for 33140, FL
19,315
Population
16,000
Households
1.2
Avg Household Size
46
Median Age
62%
College-Educated
93%
High-School Grad
3.1 sq mi
ZIP Area
6,231
Density / Sq Mi
$103,898
Median Household Income
$65,708
Median Earnings
$2,020
Median Rent
$863,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Versatile suite currently used as a real estate office with one assigned parking space and building amenity access.
Where is this office units located?
The property is located at 5005 Collins Ave # C2 Miami Beach, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Versatile commercial suite (455 SF) currently used as a real estate office; Leaseholder can seek approval for retail, professional office, personal service, or cafe use; 1 assigned parking space included; additional parking available for rent through management
