Second-Floor Office
For Sale
$1,250,000
7765 SW 87th Ave 207a, Miami, FL 33173
Professional office condominium in a Class A building with dedicated parking and hurricane shutters.
Property Size1,530 SF
Price / SF$816.99
Days on Market22
Property Features for 7765 SW 87th Ave 207a
General Information
Standard status
Active
Size
1,530 SF
Class
A
Total Parking Spaces
3
Additional Details
Floor
2
Highway Access
Yes
Building Details
Year Built
1996
Listing Agency:
Capital Trust Real Estate Corp
Listed By:
Emad Shawwa · License #3099616
(305) 668-6500
Source:
Thepennteam
Added: Sep 10
Changed: Sep 28
Last Checked: Sep 30 at 5:01PM
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 Capital Trust Real Estate Corp
Investment Insights
Based on property information with market context.
This 1,530-square-foot professional office unit occupies the second floor of a Class A office building completed in 1996. The suite has two entry doors and includes three privately owned parking spaces: one covered space and two open-air spaces. Additional guest parking is available throughout the property. Roll-down hurricane shutters cover all windows.
The property is near Baptist Hospital and provides access to State Roads 878 and 874, with the 826 Palmetto Expressway and Florida’s Turnpike only minutes away. The office configuration is identified for medical, legal, and other professional services.
The property is near Baptist Hospital and provides access to State Roads 878 and 874, with the 826 Palmetto Expressway and Florida’s Turnpike only minutes away. The office configuration is identified for medical, legal, and other professional services.
Key Highlights
- 1,530‑square‑foot second‑floor office unit
- Class A office building completed in 1996
- Two entry doors and three privately owned 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
$43,892
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
3.51%
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%
$877,840
$877.8K
Cap Rate 7%
$627,029
$627.0K
Cap Rate 9%
$487,689
$487.7K
Market Conditions
NOI Build-Up for 1,530 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
$68.9K $45.00/SF
− Vacancy
−$10.3K −$6.75/SF
EGI
$58.5K $38.25/SF
− OpEx
−$14.6K −$9.56/SF
NOI
$43.9K $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%
$877,840
Cap Rate 7%
$627,029
Cap Rate 9%
$487,689
Alternative Uses
Best Use
Office B
$627.0K
$548.7K – $731.5K
NOI $43,892 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.03M
$903.7K – $1.20M
NOI $72,293 @ 7.0% cap · market cap 5.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,443
Businesses Nearby
Explore this area
Business Placement
Demographics for 33173, FL
33,648
Population
12,237
Households
2.7
Avg Household Size
46
Median Age
42%
College-Educated
91%
High-School Grad
5.5 sq mi
ZIP Area
6,118
Density / Sq Mi
$83,053
Median Household Income
$48,565
Median Earnings
$1,935
Median Rent
$460,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Miami, FL
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Frequently Asked Questions
What type of property is this?
Office units - Professional office condominium in a Class A building with dedicated parking and hurricane shutters.
Where is this office units located?
The property is located at 7765 SW 87th Ave 207a Miami, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 1,530‑square‑foot second‑floor office unit; Class A office building completed in 1996; Two entry doors and three privately owned parking spaces
