Equipped Commercial Kitchen
For Sale
Under Contract
$750,000
7188 SW 47th Street, Miami, FL 33155
Commercial Sale, Miami, FL
Property Size1,470 SF
Price / SF$510.20
Days on Market480
Property Features for 7188 SW 47th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
7100
Parking
3
Parking features
Assigned, Guest
Directions
From 826, exit at Bird Road (SW 40 St) and head east (less than 1 mile) to SW 72 Ave. Right (south) on 72nd to 47th St. Left turn.
Subdivision
2400
Standard status
Active Under Contract
APN
3040230620110
Size
1,470 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
SO MIAMI BUSINESS CENTER CONDO 2 UNIT 7188 UNDIV 4.30% INT IN COMMON ELEMENTS OFF REC 12425-1216 OR 20702-3292 10 2002 1
Tax Annual Amount
9835
HOA Fee
$332 Monthly
Legal Description
SO MIAMI BUSINESS CENTER CONDO 2 UNIT 7188 UNDIV 4.30% INT IN COMMON ELEMENTS OFF REC 12425-1216 OR 20702-3292 10 2002 1
Utilities
Cooling system
Central Air
Water source
Public
Building Details
Year built
1985
Flooring type
Concrete
Building materials
Block
Listing Agency:
RE/MAX Select Group · RE/MAX International
(954) 368-8000
Listed By:
Michael Eisner · License #F10508405
(904) 840-1900
Added: Jun 6, 2025
Changed: Sep 13
Last Checked: Sep 28 at 1:06PM
MLS# F10508405
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,470-square-foot commercial condominium is configured for food production and preparation. The property includes a 12-foot hood system, grease trap, multiple gas convection ovens and stoves, two- and three-door coolers and freezers, and an 8-by-8 walk-in cooler. Stainless steel work surfaces, a three-compartment sink, food pans, and small wares are also included. Three-phase power and a tankless water heater support the kitchen setup. The unit has concrete flooring, central air, block construction, assigned parking, and guest parking.
Built in 1985, the property is served by public water and carries zoning designation 7100. It is located at 7188 SW 47th Street in Miami, Florida, with a stated two-minute drive to expressway 826. The commercial condominium provides a dedicated setting for food-related operations within Miami-Dade County.
Built in 1985, the property is served by public water and carries zoning designation 7100. It is located at 7188 SW 47th Street in Miami, Florida, with a stated two-minute drive to expressway 826. The commercial condominium provides a dedicated setting for food-related operations within Miami-Dade County.
Key Highlights
- 1,470 SF commercial condominium
- 12' hood system with grease trap
- 8 X 8 walk‑in cooler
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
$23,981
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
3.20%
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%
$479,620
$479.6K
Cap Rate 7%
$342,586
$342.6K
Cap Rate 9%
$266,456
$266.5K
Market Conditions
NOI Build-Up for 1,470 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
$29.6K $20.16/SF
− Vacancy
−$1.4K −$0.97/SF
EGI
$28.2K $19.19/SF
− OpEx
−$4.2K −$2.88/SF
NOI
$24.0K $16.31/SF
Area
Miami, FL
Vacancy
4.80%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
15.00%
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%
$479,620
Cap Rate 7%
$342,586
Cap Rate 9%
$266,456
Alternative Uses
Best Use
Specialty Retail
$992.3K
$868.2K – $1.16M
NOI $69,458 @ 7.0% cap · market cap 9.26%
Second Best
Warehouse
$342.6K
$299.8K – $399.7K
NOI $23,981 @ 7.0% cap · market cap 3.20%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Yes
Commercial hood
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
3,061
Businesses Nearby
Explore this area
Business Placement
Demographics for 33155, FL
43,695
Population
16,046
Households
2.7
Avg Household Size
45
Median Age
37%
College-Educated
85%
High-School Grad
7.4 sq mi
ZIP Area
5,905
Density / Sq Mi
$79,271
Median Household Income
$41,919
Median Earnings
$1,871
Median Rent
$505,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Miami, FL
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Frequently Asked Questions
What type of property is this?
Commercial kitchen - Food-preparation facility with commercial cooking equipment, refrigeration, and three-phase power.
Where is this commercial kitchen located?
The property is located at 7188 SW 47th Street Miami, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 1,470 SF commercial condominium; 12' hood system with grease trap; 8 X 8 walk‑in cooler
