Restaurant Building with Grease
For Sale
$2,350,000
7613 Biscayne Boulevard, Miami, FL 33138
Boutique commercial building offers recent grease trap improvements and flexible T6-8-O zoning along Biscayne Boulevard.
Property Size6,400 SF
Days on Market186
Property Features for 7613 Biscayne Boulevard
General Information
Standard status
Active
Size
6,400 SF
Property subtype
Mixed Use
Zoning
T6-8-O
Additional Details
Grease Trap
Yes
Building Details
Building Size
6,400 SF
Year Built
1937
Listing Agency:
Gridline Properties
(786) 325-5647
Listed By:
Alfredo Riascos · License #3210686
(786) 325-5647
Source:
Silverleafrealtygroup
Added: Feb 18
Changed: Aug 23
Last Checked: Aug 14 at 7:38AM
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 Gridline Properties
Investment Insights
Based on property information with market context.
This boutique-style commercial building is currently rented on short-term leases and is presented in strong condition. Recent improvements include a newly installed grease trap, which supports food-service operations and related commercial concepts. The property’s flexible T6-8-O zoning is designed to accommodate a wide range of commercial possibilities, including retail, restaurant, café, ghost kitchen, wellness, office, and creative uses.
The building is located at 7613 Biscayne Boulevard in Miami’s MiMo District, positioned along one of Miami’s most active and evolving corridors. The current configuration and recent site improvements make it suitable for an owner-user seeking occupancy flexibility, as well as investors evaluating a property with room for future repositioning.
The building is located at 7613 Biscayne Boulevard in Miami’s MiMo District, positioned along one of Miami’s most active and evolving corridors. The current configuration and recent site improvements make it suitable for an owner-user seeking occupancy flexibility, as well as investors evaluating a property with room for future repositioning.
Key Highlights
- Retail building on Biscayne Boulevard in Miami’s MiMo District
- Year built: 1937
- Currently rented on short‑term leases
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
$208,804
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
8.89%
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%
$4,176,080
$4.2M
Cap Rate 7%
$2,982,914
$3.0M
Cap Rate 9%
$2,320,044
$2.3M
Market Conditions
NOI Build-Up for 6,400 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
$332.5K $51.96/SF
− Vacancy
−$34.3K −$5.35/SF
EGI
$298.3K $46.61/SF
− OpEx
−$89.5K −$13.98/SF
NOI
$208.8K $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%
$4,176,080
Cap Rate 7%
$2,982,914
Cap Rate 9%
$2,320,044
Alternative Uses
Best Use
Specialty Retail
$4.32M
$3.78M – $5.04M
NOI $302,403 @ 7.0% cap · market cap 12.87%
Second Best
Retail
$2.98M
$2.61M – $3.48M
NOI $208,804 @ 7.0% cap · market cap 8.89%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
17,616
Businesses Nearby
Well-served
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 Retail 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?
Storefront property - Boutique commercial building offers recent grease trap improvements and flexible T6-8-O zoning along Biscayne Boulevard.
Where is this storefront property located?
The property is located at 7613 Biscayne Boulevard Miami, FL.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Retail building on Biscayne Boulevard in Miami’s MiMo District; Year built: 1937; Currently rented on short‑term leases
