Commercial Space with Bay
For Sale
$270,000
7601 E Treasure Dr CU-5, North Bay Village, FL 33141
Commercial unit with bay views, central A/C, and private bath.
Property Size400 SF
Days on Market169
Property Features for 7601 E Treasure Dr CU-5
General Information
Standard status
Active
Size
400 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$1,995
Building Details
Building Size
400 SF
Year Built
1987
Stories
5
Listing Agency:
Alternative Realty Group, LLC
(305) 815-1259
Listed By:
Elsi Alava · License #3250084
(305) 815-1259
Source:
Elliman
Added: Mar 11
Changed: Aug 21
Last Checked: Aug 26 at 12:13PM
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 Alternative Realty Group, LLC
Investment Insights
Based on property information with market context.
This commercial space features views of the bay, central A/C, and a private bath. The unit is currently tenant-occupied. The monthly association fee is $351, which includes water, security, cleaning, and maintenance of social areas. The property is located in a high-rise building with 625 apartments, approximately 5 minutes from Miami Beach, near Collins Avenue and 71st Street in the 33141 ZIP code. This sale includes the unit only, not the business.
Key Highlights
- Commercial space with bay views.
- Low association fees ($351/month) including water, security, cleaning, and maintenance.
- Located 5 minutes from Miami Beach near Collins Avenue and 71st Street.
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
$10,602
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
3.93%
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%
$212,040
$212.0K
Cap Rate 7%
$151,457
$151.5K
Cap Rate 9%
$117,800
$117.8K
Market Conditions
NOI Build-Up for 400 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
$18.2K $45.60/SF
− Vacancy
−$4.1K −$10.26/SF
EGI
$14.1K $35.34/SF
− OpEx
−$3.5K −$8.84/SF
NOI
$10.6K $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%
$212,040
Cap Rate 7%
$151,457
Cap Rate 9%
$117,800
Alternative Uses
Best Use
Office B
$151.5K
$132.5K – $176.7K
NOI $10,602 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$202.9K
$177.6K – $236.8K
NOI $14,206 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
885
Businesses Nearby
Explore this area
Business Placement
Demographics for 33141, FL
35,995
Population
21,793
Households
1.7
Avg Household Size
44
Median Age
44%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
15,650
Density / Sq Mi
$64,457
Median Household Income
$36,899
Median Earnings
$1,739
Median Rent
$434,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Commercial unit with bay views, central A/C, and private bath.
Where is this office units located?
The property is located at 7601 E Treasure Dr CU-5 North Bay Village, FL.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Commercial space with **bay views**.; Low association fees ($351/month) including water, security, cleaning, and maintenance.; Located 5 minutes from Miami Beach near Collins Avenue and 71st Street.
