Building Details

Building Size 400 SF

Year Built 1987

Stories 5

Listing Agency: Alternative Realty Group, LLC

Listed By: Elsi Alava · License #3250084 Show Phone

Source: Elliman

Added: Mar 11 Changed: Oct 8 Last Checked: Oct 16 at 11:15AM

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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

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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 / Yr

$10,602

Cap Rate

3.93%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$212,040 $212.0K

Cap Rate 7%

$151,457 $151.5K

Cap Rate 9%

$117,800 $117.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 400 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $14,206 @ 7.0% cap · market cap 5.26%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Office Units

Suggested Use

Top Pick Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Restaurant Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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.