Two-Unit Built-Out
For Sale
$850,000
7791 NW 46th Street 427 & 428, Doral, FL 33166
Adjacent office units offer finished conference, reception, and private-office areas with separate air-conditioning systems.
Property Size1,930 SF
Price / SF$440.41
Days on Market41
Property Features for 7791 NW 46th Street 427 & 428
General Information
Standard status
Active
Size
1,930 SF
Total Parking Spaces
7
Additional Details
Office Units
2
Building Details
Year Built
2001
Listing Agency:
Delphi Investment Realty
(786) 488-1882
Listed By:
Maribel Pena · License #3334243
Source:
Thepennteam
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 25 at 7:01AM
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 includes two adjacent office units totaling 1,930 square feet, each configured as a finished professional workspace. The interiors provide reception and waiting areas, conference rooms, and multiple private offices, with upscale finishes throughout. Separate AC units serve each unit, while drop ceilings and impact-resistant windows add to the existing improvements. The suites are currently separated but may be combined into a larger office layout.
Seven covered parking spaces on the second floor are included with the property. Built in 2001, the offices are located at 7791 NW 46th St, Units 427 and 428, in Doral, Florida 33166.
Seven covered parking spaces on the second floor are included with the property. Built in 2001, the offices are located at 7791 NW 46th St, Units 427 and 428, in Doral, Florida 33166.
Key Highlights
- Two adjacent office units totaling 1,930 SF
- Seven premium covered parking spaces on the 2nd floor
- Finished waiting areas, conference rooms, and multiple private offices
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
Property Profile
Current Use
Lease Details
2
Office units
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 - Adjacent office units offer finished conference, reception, and private-office areas with separate air-conditioning systems.
Where is this office units located?
The property is located at 7791 NW 46th Street 427 & 428 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 office units totaling 1,930 SF; Seven premium covered parking spaces on the 2nd floor; Finished waiting areas, conference rooms, and multiple private offices
