Freestanding Retail Building and Adjacent
For Sale
$975,000
Pending
7010 NW 7th Avenue, Miami, FL 33150
For-sale package includes a freestanding commercial building plus an adjacent parcel for one combined offering.
Property Size960 SF
Days on Market120
Property Features for 7010 NW 7th Avenue
General Information
Standard status
Pending
Size
960 SF
Total Parking Spaces
6
Zoning
7000
Taxes and HOA fees
Annual Taxes
$3,003
Building Details
Building Size
960 SF
Year Built
1947
Buildings
1
Stories
1
Listing Agency:
Align Right Realty K1 Group
Listed By:
Karen Lewis · License #A11969021
(954) 248-9149
Source:
Laerrealty
Added: May 10
Changed: Aug 25
Last Checked: Aug 24 at 3:19AM
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 Align Right Realty K1 Group
Investment Insights
Based on property information with market context.
For sale as one unified offering: a freestanding commercial building along with the adjacent parcel at 7010 NW 7th Ave, Miami, FL 33150. Public remarks also note the combined sale includes 7004 NW 7th Ave (A11969021) together with 7010 NW 7th Ave as a contiguous commercial package.
The properties are described as positioned along the NW 7th Avenue corridor, with visibility and accessibility. BikeScore is listed at 54 (bikeable), walkScore at 65 (somewhat walkable), and transitScore at 51 (good transit).
The combined building-and-land configuration is intended to provide expanded flexibility for potential uses and future plans, with the additional land highlighted as supporting possibilities for parking, new construction, or value-add improvements.
The properties are described as positioned along the NW 7th Avenue corridor, with visibility and accessibility. BikeScore is listed at 54 (bikeable), walkScore at 65 (somewhat walkable), and transitScore at 51 (good transit).
The combined building-and-land configuration is intended to provide expanded flexibility for potential uses and future plans, with the additional land highlighted as supporting possibilities for parking, new construction, or value-add improvements.
Key Highlights
- For‑sale package includes 7010 NW 7th Ave and 7004 NW 7th Ave, Miami, FL 33150, offered together as one unified commercial offering (A11969021).
- Freestanding commercial building plus an adjacent parcel included in the combined sale.
- Built in 1947 (commercial building).
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
$31,321
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
3.21%
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%
$626,420
$626.4K
Cap Rate 7%
$447,443
$447.4K
Cap Rate 9%
$348,011
$348.0K
Market Conditions
NOI Build-Up for 960 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
$49.9K $51.96/SF
− Vacancy
−$5.1K −$5.35/SF
EGI
$44.7K $46.61/SF
− OpEx
−$13.4K −$13.98/SF
NOI
$31.3K $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%
$626,420
Cap Rate 7%
$447,443
Cap Rate 9%
$348,011
Alternative Uses
Best Use
Retail
$447.4K
$391.5K – $522.0K
NOI $31,321 @ 7.0% cap · market cap 3.21%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$648.0K
$567.0K – $756.0K
NOI $45,360 @ 7.0% cap · market cap 4.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,408
Businesses Nearby
Explore this area
Business Placement
Demographics for 33150, FL
28,703
Population
12,403
Households
2.3
Avg Household Size
37
Median Age
14%
College-Educated
75%
High-School Grad
3.5 sq mi
ZIP Area
8,201
Density / Sq Mi
$40,802
Median Household Income
$32,359
Median Earnings
$1,179
Median Rent
$377,700
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?
Retail space - For-sale package includes a freestanding commercial building plus an adjacent parcel for one combined offering.
Where is this retail space located?
The property is located at 7010 NW 7th Avenue Miami, FL.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: For‑sale package includes 7010 NW 7th Ave and 7004 NW 7th Ave, Miami, FL 33150, offered together as one unified commercial offering (A11969021).; Freestanding commercial building plus an adjacent parcel included in the combined sale.; Built in 1947 (commercial building).
