Brickell Bay Boardwalk Commercial
For Sale
$5,495,000
801 Brickell Bay Drive, Miami, FL 33131
5,411 SF waterfront condo ideal for retail or restaurant.
Property Size5,411 SF
Price / SF$1,015
Days on Market178
Property Features for 801 Brickell Bay Drive
General Information
Standard status
Active
Size
5,411 SF
Property subtype
NNN Retail
Net Operating Income
$364,210
Listed By:
Fabio Faerman, CCIM
(786) 262-9966
Source:
Facommercial
Added: Mar 11
Changed: Sep 4
Last Checked: Sep 4 at 5:01AM
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 Fabio Faerman, CCIM
Investment Insights
Based on property information with market context.
This 5,411 square foot commercial condominium, identified as Unit 4C042, features direct frontage along the historic Four Ambassadors waterfront concourse on the Brickell Bay Boardwalk. Its bayfront location is suitable for retail, restaurant, or office use in Brickell. The property includes an approved liquor license reservation for full liquor service, enhancing its potential as a restaurant or lounge. It is grease trap ready to install, with utilities stubbed for efficient build-out. The unit offers approximately 45 feet of waterfront frontage with bay views, private on-site parking, and potential for dock access, outdoor dining, or open-air events.
Key Highlights
- Rare bayfront location on the Brickell Bay Boardwalk with ~45 feet of prime waterfront frontage and sweeping bay views.
- Includes an approved liquor license reservation for full liquor service.
- Ideal for retail, restaurant, or office use.
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
$255,672
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
4.65%
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%
$5,113,440
$5.1M
Cap Rate 7%
$3,652,457
$3.7M
Cap Rate 9%
$2,840,800
$2.8M
Market Conditions
NOI Build-Up for 5,411 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
$346.1K $63.96/SF
− Vacancy
−$5.2K −$0.96/SF
EGI
$340.9K $63.00/SF
− OpEx
−$85.2K −$15.75/SF
NOI
$255.7K $47.25/SF
Area
Miami, FL
Vacancy
1.50%
Lease Rate
$63.96 /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%
$5,113,440
Cap Rate 7%
$3,652,457
Cap Rate 9%
$2,840,800
Alternative Uses
Best Use
Specialty Retail
$3.65M
$3.20M – $4.26M
NOI $255,672 @ 7.0% cap · market cap 4.65%
Second Best
Retail
$2.52M
$2.21M – $2.94M
NOI $176,538 @ 7.0% cap · market cap 3.21%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
15,091
Businesses Nearby
Explore this area
Business Placement
Demographics for 33131, FL
26,213
Population
18,872
Households
1.4
Avg Household Size
37
Median Age
77%
College-Educated
98%
High-School Grad
0.5 sq mi
ZIP Area
52,426
Density / Sq Mi
$143,114
Median Household Income
$86,331
Median Earnings
$2,847
Median Rent
$621,700
Median Home Value
Market
Vacancy Rate% for Retail in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 5,411 SF waterfront condo ideal for retail or restaurant.
Where is this retail space located?
The property is located at 801 Brickell Bay Drive Miami, FL.
What is the asking price?
The asking price for this property is $5,495,000.
What are key features of this property?
This property features: Rare bayfront location on the Brickell Bay Boardwalk with ~45 feet of prime waterfront frontage and sweeping bay views.; Includes an approved liquor license reservation for full liquor service.; Ideal for retail, restaurant, or office use.
