Unique Retail Property with
777 NE 79th St, Miami, FL 33138
Freestanding retail property in prime location with frontage and parking.
Type:Mixed Use, Office, Retail
Property size:
5,177 SFPrice / SF:
$772/SF- Added:
- Aug 21, 2023
- Days on Market:
- 1016
- Last Refresh:
- May 13 at 8:21 pm
Property Features for 777 NE 79th St
General Information
- Standard status
- Active
- Size
- 5,177 SF
- Property subtype
- Mixed Use, Office, Retail
Building Details
- Year Built
- 1979
Listing agent Alan Waserstein License #0438224
Listing office Realty Hub
Listing date Aug 21, 2023
Source Crexi
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 Realty Hub
HighLights
- Prime location east of Biscayne across from the marina with high exposure on NE 79 ST and over 100 feet of frontage.
- 5,180 Sqft freestanding retail property with multiple entrances suitable for office or retail use.
- Parking in front with 3 covered spaces.
- Versatile space suitable for restaurant, retail, office, bar, night club, and special/private events.
- Located near new residential developments and a major artery to Miami Beach, Biscayne Blvd (US1), and I95.
- New roof and recent 40‑year recertification.
Overview
This freestanding retail property is located east of Biscayne, across from the marina, offering exposure on NE 79th Street and over 100 feet of frontage. The 5,177-square-foot property includes parking in front, featuring three covered spaces. The property has high ceilings and multiple entrances, making it suitable for office or retail use. It contains multiple rooms that can be used as a restaurant, retail space, office, bar, night club, or for special and private events. Located on the major artery for getting to Miami Beach, Biscayne Boulevard (US1), and I95, the property is near new residential developments to the east. The property has a new roof and has received its 40-year recertification.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $331.1k | $63.96 |
| − Vacancy | −$5.0k | −$0.96 |
| EGI | $326.2k | $63.00 |
| − OpEx | −$81.5k | −$15.75 |
| NOI | $244.6k | $47.25 |
5,177 SF · lease $63.96/SF/yr · vacancy 1.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$3.49M
$3.06M – $4.08M
NOI $244,616 @ 7.0% cap · market cap 6.12%
Second Best
Retail
$2.41M
$2.11M – $2.82M
NOI $168,903 @ 7.0% cap · market cap 4.22%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
777 Complex
Hotel & Motel
Olivier Associates
Law Firm
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.180236
- Latitude
- 25.84821
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Freestanding retail property in prime location with frontage and parking.
Where is this mixed-use property located?
The property is located at 777 NE 79th St Miami, FL.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Prime location east of Biscayne across from the marina with **high exposure on NE 79 ST and over 100 feet of frontage.**; 5,180 Sqft freestanding retail property with multiple entrances suitable for office or retail use.; Parking in front with 3 covered spaces.
