Built-Out Office
For Sale
$850,000
7791 46th St, Doral, FL 33166
Two adjacent, fully built-out office units feature separate AC, private offices, conference space, and seven covered parking spaces.
Property Size1,930 SF
Price / SF$440.41
Days on Market380
Property Features for 7791 46th St
General Information
Standard status
Active
Size
1,930 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$9,712
Amenities
Central Air
3
Parking.
7 Parking Spaces. Covered, Guest Parking, Assigned Parking Space, Shared Driveway.
Building Details
Year Built
2001
Listing Agency:
Delphi Investment Realty
(786) 488-1882
Listed By:
Maribel Pena · License #3334243
(786) 488-1882
Source:
Xome
Added: Aug 10, 2025
Changed: Aug 12
Last Checked: Aug 24 at 4:52AM
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 Delphi Investment Realty
Investment Insights
Based on property information with market context.
This offering consists of two adjacent, fully built-out office units that are currently separated but can be combined to create a larger, cohesive workspace. Each unit is equipped with its own separate AC unit and includes drop ceilings, impact-resistant windows, multiple private offices, and well-appointed conference rooms with elegant waiting areas. The interior is fully finished with an upscale professional presentation.
The property includes seven premium-covered parking spaces located on the 2nd floor, intended to provide convenient access for occupants and visitors.
Available for sale, the units are presented as turnkey office space, with the configuration supporting day-to-day professional office use while offering flexibility to grow by combining the suites.
The property includes seven premium-covered parking spaces located on the 2nd floor, intended to provide convenient access for occupants and visitors.
Available for sale, the units are presented as turnkey office space, with the configuration supporting day-to-day professional office use while offering flexibility to grow by combining the suites.
Key Highlights
- Two adjacent, fully built‑out office units can be combined to create a larger, cohesive workspace
- Each unit has its own separate AC unit for independent climate control
- Includes multiple private offices, waiting areas, and conference rooms
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
$51,155
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
6.02%
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%
$1,023,100
$1.0M
Cap Rate 7%
$730,786
$730.8K
Cap Rate 9%
$568,389
$568.4K
Market Conditions
NOI Build-Up for 1,930 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
$88.0K $45.60/SF
− Vacancy
−$19.8K −$10.26/SF
EGI
$68.2K $35.34/SF
− OpEx
−$17.1K −$8.84/SF
NOI
$51.2K $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 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%
$1,023,100
Cap Rate 7%
$730,786
Cap Rate 9%
$568,389
Alternative Uses
Best Use
Office B
$730.8K
$639.4K – $852.6K
NOI $51,155 @ 7.0% cap · market cap 6.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$979.2K
$856.8K – $1.14M
NOI $68,542 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,044
Businesses Nearby
Explore this area
Business Placement
Demographics for 33166, FL
26,106
Population
10,838
Households
2.4
Avg Household Size
41
Median Age
42%
College-Educated
83%
High-School Grad
7.9 sq mi
ZIP Area
3,305
Density / Sq Mi
$78,166
Median Household Income
$39,744
Median Earnings
$1,766
Median Rent
$489,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two adjacent, fully built-out office units feature separate AC, private offices, conference space, and seven covered parking spaces.
Where is this office units located?
The property is located at 7791 46th St Doral, FL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two adjacent, fully built‑out office units can be combined to create a larger, cohesive workspace; Each unit has its own separate AC unit for independent climate control; Includes multiple private offices, waiting areas, and conference rooms
