Biscayne Bay View Condo
For Sale
Contact for pricing
Biscayne Blvd, Miami, FL 33137
1,555 SF condo office with panoramic Biscayne Bay views.
Property Size1,555 SF
Price / SF$764.63
Days on Market848
Property Features for Biscayne Blvd
General Information
Standard status
Active
Size
1,555 SF
Class
B
Property subtype
Office
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
Lee & Associates - Miami
(786) 473-9227
Listed By:
Matthew Katzen · License #SL3575264
Source:
Crexi
Added: May 1, 2024
Changed: Aug 21
Last Checked: Aug 25 at 2:19PM
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 Lee & Associates - Miami
Investment Insights
Based on property information with market context.
This 1,555 SF condo office offers panoramic views of Biscayne Bay and the Miami skyline. It is located in the 4770 Biscayne Building along the Biscayne corridor in Miami, Florida. The property was fully renovated in 2006 and updated with modern features, including all-new systems, smart elevators, all-new lighting, updated corridor ceilings, and a modernized lobby with terrazzo and river rock flooring complemented by slate walls. Tenants benefit from 24-hour building access and round-the-clock building security. The property is located directly adjacent to a Publix Super Market, across the street from the BayPoint Residences, and near Downtown Miami, Miami's Design District, and Wynwood. Miami International Airport is 10 miles away. Direct access to I-195 provides easy travel, connecting to major highways and thoroughfares. The price includes four reserved covered parking spaces, with two on the ground floor and two on the second floor.
Key Highlights
- Enjoy panoramic views of Biscayne Bay and Miami's skyline.
- Includes 4 reserved covered parking spaces (2 on the ground floor, 2 on the second floor).
- Prime location: adjacent to Publix, across from BayPoint Residences, near Downtown Miami, Design District, and Wynwood.
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
$44,609
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
3.75%
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%
$892,180
$892.2K
Cap Rate 7%
$637,271
$637.3K
Cap Rate 9%
$495,656
$495.7K
Market Conditions
NOI Build-Up for 1,555 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
$70.0K $45.00/SF
− Vacancy
−$10.5K −$6.75/SF
EGI
$59.5K $38.25/SF
− OpEx
−$14.9K −$9.56/SF
NOI
$44.6K $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%
$892,180
Cap Rate 7%
$637,271
Cap Rate 9%
$495,656
Alternative Uses
Best Use
Office B
$637.3K
$557.6K – $743.5K
NOI $44,609 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.05M
$918.4K – $1.22M
NOI $73,474 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
13,054
Businesses Nearby
Explore this area
Business Placement
Demographics for 33137, FL
25,763
Population
15,237
Households
1.7
Avg Household Size
37
Median Age
51%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
12,882
Density / Sq Mi
$82,798
Median Household Income
$53,519
Median Earnings
$2,338
Median Rent
$532,900
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - 1,555 SF condo office with panoramic Biscayne Bay views.
Where is this office units located?
The property is located at Biscayne Blvd Miami, FL.
What is the asking price?
The asking price for this property is $1,189,000.
What are key features of this property?
This property features: Enjoy panoramic views of Biscayne Bay and Miami's skyline.; Includes **4 reserved covered parking spaces** (2 on the ground floor, 2 on the second floor).; Prime location: adjacent to Publix, across from BayPoint Residences, near Downtown Miami, Design District, and Wynwood.
