Turnkey Kitchen Commissary For
For Sale
$750,000
7188 SW 47th Street, Miami, FL 33155
Fully equipped commercial kitchen and commissary in central Miami-Dade.
Property Size1,470 SF
Price / SF$510.20
Days on Market412
Property Features for 7188 SW 47th Street
General Information
Standard status
Active
Size
1,470 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,835
Amenities
Central air
Assigned
Central Air Cooling
Concrete Flooring
Guest
Phases3
Building Details
Year Built
1985
Listing Agency:
RE/MAX SELECT GROUP
Listed By:
MICHAEL EISNER · License #F10508405
(305) 542-0571
Source:
Corcoran
Added: Jul 25, 2025
Changed: Sep 8
Last Checked: Sep 8 at 5:11AM
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 RE/MAX SELECT GROUP
Investment Insights
Based on property information with market context.
A 1,470 square foot commercial condominium is available for sale, operating as a turnkey kitchen commissary. The property is strategically located in central Miami-Dade County, making it suitable for fresh meal delivery services, paleo, vegan, and fitness meal prep companies, food truck operators, and catering companies. It is equipped with a 12-foot hood system, grease trap, multiple gas convection ovens and stoves, multiple two and three-door coolers and freezers, and an almost new 8x8 walk-in cooler. The kitchen also features a stainless steel three-compartment sink, tables, food pans, and small wares. The property has 3-phase power and a tankless water heater. The location provides convenient access to the expressway (826) with a 2-minute drive time.
Key Highlights
- Turnkey kitchen commissary (1,470sf commercial condo) for sale, ideal for various food businesses.
- Strategically located in central Miami Dade County with quick access to expressway (826).
- Fully equipped with a 12' hood system and grease trap.
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
$47,960
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
6.39%
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%
$959,200
$959.2K
Cap Rate 7%
$685,143
$685.1K
Cap Rate 9%
$532,889
$532.9K
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
$76.4K $51.96/SF
− Vacancy
−$7.9K −$5.35/SF
EGI
$68.5K $46.61/SF
− OpEx
−$20.6K −$13.98/SF
NOI
$48.0K $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%
$959,200
Cap Rate 7%
$685,143
Cap Rate 9%
$532,889
Alternative Uses
Best Use
Specialty Retail
$992.3K
$868.2K – $1.16M
NOI $69,458 @ 7.0% cap · market cap 9.26%
Second Best
Retail
$685.1K
$599.5K – $799.3K
NOI $47,960 @ 7.0% cap · market cap 6.39%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Retail in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial kitchen - Fully equipped commercial kitchen and commissary in central Miami-Dade.
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: Turnkey kitchen commissary (1,470sf commercial condo) for sale, ideal for various food businesses.; Strategically located in central Miami Dade County with quick access to expressway (826).; Fully equipped with a **12' hood system and grease trap**.
