Office Condo For
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7765 SW 87th Ave, Miami, FL 33143
2,920 sq.ft. office condo available for purchase.
Property Size2,920 SF
Price / SF$684.93
Days on Market145
Property Features for 7765 SW 87th Ave
General Information
Standard status
Active
Size
2,920 SF
Class
B
Property subtype
Office
Building Details
Year Built
1997
Listing Agency:
Behar Real Estate Group, Inc.
Listed By:
Nick Monti · License #SL3378950
Source:
Crexi
Added: Mar 19
Changed: Aug 8
Last Checked: Aug 8 at 6:32AM
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 Behar Real Estate Group, Inc.
Investment Insights
Based on property information with market context.
A 2,920 sq.ft. office condo is available for purchase. The property is located on SW 87th Avenue, situated between Sunset Drive and Kendall Drive. The property includes two covered parking spaces and six uncovered parking spaces.
Key Highlights
- 2,920 sq.ft. Office Condo
- Prime Location: SW 87th Ave, Between Sunset & Kendall Drive
- Includes 2 Covered Parking Spaces
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
$83,768
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
4.19%
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%
$1,675,360
$1.7M
Cap Rate 7%
$1,196,686
$1.2M
Cap Rate 9%
$930,756
$930.8K
Market Conditions
NOI Build-Up for 2,920 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
$131.4K $45.00/SF
− Vacancy
−$19.7K −$6.75/SF
EGI
$111.7K $38.25/SF
− OpEx
−$27.9K −$9.56/SF
NOI
$83.8K $28.69/SF
Area
Miami, FL
Vacancy
15.00%
Lease Rate
$45.00 /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%
$1,675,360
Cap Rate 7%
$1,196,686
Cap Rate 9%
$930,756
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.40M
NOI $83,768 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.97M
$1.72M – $2.30M
NOI $137,971 @ 7.0% cap · market cap 6.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,443
Businesses Nearby
Explore this area
Business Placement
Demographics for 33143, FL
34,853
Population
15,374
Households
2.3
Avg Household Size
41
Median Age
60%
College-Educated
94%
High-School Grad
7.8 sq mi
ZIP Area
4,468
Density / Sq Mi
$80,924
Median Household Income
$52,864
Median Earnings
$1,823
Median Rent
$768,900
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - 2,920 sq.ft. office condo available for purchase.
Where is this office units located?
The property is located at 7765 SW 87th Ave Miami, FL.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 2,920 sq.ft. Office Condo; Prime Location: SW 87th Ave, Between Sunset & Kendall Drive; Includes 2 Covered Parking Spaces
