Miami MIMO District Building For
For Sale
$3,499,999
7228 Biscayne Blvd, Miami, FL 33138
Building with restaurant and office space in Miami's MIMO District.
Property Size3,519 SF
Days on Market343
Property Features for 7228 Biscayne Blvd
General Information
Standard status
Active
Size
3,519 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$22,746
Building Details
Building Size
3,519 SF
Year Built
1941
Listing Agency:
Spider Int'l R.E. Services
(305) 525-4825
Listed By:
Manuela MacKenzie · License #3087105
Source:
Relinkre
Added: Sep 15, 2025
Changed: Aug 23
Last Checked: Aug 22 at 9:21AM
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 Spider Int'l R.E. Services
Investment Insights
Based on property information with market context.
Located in the heart of Miami's MIMO District, this building is available for sale and includes one tenant. The ground floor is occupied by a fully equipped restaurant, which features a fully outfitted backyard patio for customer seating. A diesel generator is included, capable of supporting the entire restaurant operation in the event of a temporary power outage. The second floor is currently utilized as office space for the restaurant. The property completed its 40-year recertification in 2021. The property is suitable for restaurants, office units, and office properties and spaces.
Key Highlights
- Prime location in the heart of Miami's MIMO District.
- Ground floor occupied by a fully equipped restaurant with a tenant in place.
- Includes a fully outfitted backyard patio for customer seating.
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
$166,274
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
4.75%
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%
$3,325,480
$3.3M
Cap Rate 7%
$2,375,343
$2.4M
Cap Rate 9%
$1,847,489
$1.8M
Market Conditions
NOI Build-Up for 3,519 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
$225.1K $63.96/SF
− Vacancy
−$3.4K −$0.96/SF
EGI
$221.7K $63.00/SF
− OpEx
−$55.4K −$15.75/SF
NOI
$166.3K $47.25/SF
Area
Miami, FL
Vacancy
1.50%
Lease Rate
$63.96 /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%
$3,325,480
Cap Rate 7%
$2,375,343
Cap Rate 9%
$1,847,489
Alternative Uses
Best Use
Specialty Retail
$2.38M
$2.08M – $2.77M
NOI $166,274 @ 7.0% cap · market cap 4.75%
Second Best
Office B
$1.44M
$1.26M – $1.68M
NOI $100,951 @ 7.0% cap · market cap 2.88%
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
2,562
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33138, FL
27,601
Population
14,310
Households
1.9
Avg Household Size
43
Median Age
47%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
6,572
Density / Sq Mi
$71,518
Median Household Income
$52,853
Median Earnings
$1,647
Median Rent
$686,300
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Restaurant - Building with restaurant and office space in Miami's MIMO District.
Where is this restaurant located?
The property is located at 7228 Biscayne Blvd Miami, FL.
What is the asking price?
The asking price for this property is $3,499,999.
What are key features of this property?
This property features: Prime location in the heart of Miami's MIMO District.; Ground floor occupied by a fully equipped restaurant with a tenant in place.; Includes a fully outfitted backyard patio for customer seating.
