Building Details

Year Built 1987

Listing Agency: Opera REI Inc i***@operarei.com Show Phone

Listed By: Alexandra Katherine Hughley · License #3223641 Show Phone

Source: Lehmannflorida

Added: Jun 22 Changed: Oct 27 Last Checked: Oct 26 at 3:47PM

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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 Opera REI Inc

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Investment Insights

Based on property information with market context.

This for-sale office suite at Grand View Palace includes a welcoming reception area and a spacious private office. The layout is designed to support professional front-desk presence alongside a dedicated workspace.

The property is located at 7601 E Treasure Drive in North Bay Village, within a waterfront destination described as having strong growth prospects and premium exposure.

Available as Unit CU9a, the suite offers a straightforward configuration for businesses seeking an office setting with reception space and a private office.

Key Highlights

• Office suite at Grand View Palace with a welcoming reception area
• Includes a spacious private office within the suite
• Year built: 1987

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,903

Suggested Prices Based on Cap Rates

Cap Rate 5%

$318,060 $318.1K

Cap Rate 7%

$227,186 $227.2K

Cap Rate 9%

$176,700 $176.7K

What to ask about pricing

Market Conditions

NOI Build-Up for 600 SF

Gross rent

$27.4K $45.60/SF

− Vacancy

−$6.2K −$10.26/SF

EGI

$21.2K $35.34/SF

− OpEx

−$5.3K −$8.84/SF

NOI

$15.9K $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%

$318,060

Cap Rate 7%

$227,186

Cap Rate 9%

$176,700

Alternative Uses

Best Use

Office B

$227.2K

$198.8K – $265.1K (±1% cap)

NOI $15,903 @ 7.0% cap · market cap 1,445.73%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$304.4K

$266.4K – $355.1K (±1% cap)

NOI $21,308 @ 7.0% cap · market cap 1,937.09%

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

Property 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 unit - Office suite with a reception area and a spacious private office at Grand View Palace.

Where is this office unit located?

The property is located at 7601 E Treasure Drive #CU-9a North Bay Village, FL.

What are key features of this property?

This property features: Office suite at Grand View Palace with a welcoming reception area; Includes a spacious private office within the suite; Year built: 1987