Contemporary Office
For Sale
Contact for pricing
7791 NW 46th St, Miami, FL 33166
Contemporary office building with two elevators, two common conference rooms, and a three-story garage plus outside parking and 52 guest spaces.
Property Size1,930 SF
Price / SF$440.41
Days on Market1229
Property Features for 7791 NW 46th St
General Information
Standard status
Active
Size
1,930 SF
Property subtype
OFFICE
Amenities
cafe on ground floor
two-story lobby
two (2) elevators
three (3) staircases
two (2) common conference rooms
common greeting area (2nd floor mezzanine)
Listing Agency:
NAI Miami | Doral
(305) 938-4000
Listed By:
Lucia Custer
(305) 975-8131
Source:
Moodyscre
Added: May 10, 2023
Changed: Sep 16
Last Checked: Sep 18 at 6:02AM
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 NAI Miami | Doral
Investment Insights
Based on property information with market context.
This contemporary office building features a two-story lobby, two elevators, and three staircases. Common amenities include two (2) common conference rooms and a shared greeting area located on the second-floor mezzanine. A café is also situated on the ground floor.
The property offers generous parking with a three-story garage, outside parking, and 52 guest spots. The address is 7791 NW 46th St, Miami, FL 33166.
The property offers generous parking with a three-story garage, outside parking, and 52 guest spots. The address is 7791 NW 46th St, Miami, FL 33166.
Key Highlights
- Contemporary office building with a three‑story garage plus outside parking
- Two (2) elevators and three (3) staircases for building access
- Two (2) common 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
$55,367
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
6.51%
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%
$1,107,340
$1.1M
Cap Rate 7%
$790,957
$791.0K
Cap Rate 9%
$615,189
$615.2K
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
$86.9K $45.00/SF
− Vacancy
−$13.0K −$6.75/SF
EGI
$73.8K $38.25/SF
− OpEx
−$18.5K −$9.56/SF
NOI
$55.4K $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%
$1,107,340
Cap Rate 7%
$790,957
Cap Rate 9%
$615,189
Alternative Uses
Best Use
Office B
$791.0K
$692.1K – $922.8K
NOI $55,367 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.30M
$1.14M – $1.52M
NOI $91,193 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
Check the figures for this property
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 building - Contemporary office building with two elevators, two common conference rooms, and a three-story garage plus outside parking and 52 guest spaces.
Where is this office building located?
The property is located at 7791 NW 46th St Miami, 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: Contemporary office building with a three‑story garage plus outside parking; Two (2) elevators and three (3) staircases for building access; Two (2) common conference rooms
