Doral Corner Office
For Sale
$800,000
7791 NW 46th St 214 & 215, Doral, FL 33166
Two connected office suites in Doral's Palmetto West Park.
Property Size1,915 SF
Price / SF$417.75
Days on Market496
Property Features for 7791 NW 46th St 214 & 215
General Information
Standard status
Active
Size
1,915 SF
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$4,378
Building Details
Year Built
2001
Listing Agency:
Elite Realty Partners, Inc.
(954) 299-1111
Listed By:
Adriana Richardson · License #3532928
(954) 299-1111
Source:
Exitrealty
Added: Apr 10, 2025
Changed: Aug 9
Last Checked: Aug 9 at 9:18PM
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 Elite Realty Partners, Inc.
Investment Insights
Based on property information with market context.
Two connected corner office suites, Units 214 & 215, totaling approximately 1,915 rentable square feet, are available for purchase. The suites are located in Palmetto West Park III, a four-story professional office building situated in Doral. The space includes private offices, a large open bullpen area, a dry kitchenette, impact glass windows, and a separate thermostat. The building provides a common waiting/meeting area and conference rooms on the same floor. Building amenities feature a two-story modern lobby, an on-site café, two elevators, three staircases, two common conference rooms, and parking at a ratio of 5 spaces per 1,000 square feet. This property is suitable for owner-users or investors seeking a commercial asset in South Florida.
Key Highlights
- Prime location in the heart of Doral, a sought‑after business district.
- Two connected corner office suites totaling approximately 1,915 RSF.
- Generous parking with 5 spaces per 1,000 SF.
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
$50,757
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
6.34%
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%
$1,015,140
$1.0M
Cap Rate 7%
$725,100
$725.1K
Cap Rate 9%
$563,967
$564.0K
Market Conditions
NOI Build-Up for 1,915 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
$87.3K $45.60/SF
− Vacancy
−$19.6K −$10.26/SF
EGI
$67.7K $35.34/SF
− OpEx
−$16.9K −$8.84/SF
NOI
$50.8K $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%
$1,015,140
Cap Rate 7%
$725,100
Cap Rate 9%
$563,967
Alternative Uses
Best Use
Office B
$725.1K
$634.5K – $846.0K
NOI $50,757 @ 7.0% cap · market cap 6.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$971.6K
$850.1K – $1.13M
NOI $68,009 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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 connected office suites in Doral's Palmetto West Park.
Where is this office units located?
The property is located at 7791 NW 46th St 214 & 215 Doral, FL.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Prime location in the heart of Doral, a sought‑after business district.; Two connected corner office suites totaling approximately 1,915 RSF.; Generous parking with 5 spaces per 1,000 SF.
