Retail Property with Corporate
For Sale
Contact for pricing
Pending
9711 SW 77th Ave, Miami, FL 33156
Retail property with an absolute NNN corporate lease.
Property Size3,481 SF
Days on Market159
Property Features for 9711 SW 77th Ave
General Information
Standard status
Pending
Size
3,481 SF
Total Parking Spaces
15
Property subtype
Retail
Zoning
Commercial
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$242,910
Building Details
Year Built
1971
Year Renovated
2022
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
SRS Real Estate Partners Tampa
(954) 703-3602
Listed By:
William Wamble · License #SL3257920
Source:
Crexi
Added: Mar 6
Changed: Aug 8
Last Checked: Aug 12 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 SRS Real Estate Partners Tampa
Investment Insights
Based on property information with market context.
This retail property features an absolute NNN corporate lease with 7 years remaining. The property size is 3,481 square feet.
Key Highlights
- Corporate Lease in place
- Absolute NNN Lease
- 7 Years Remaining on Lease
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
$113,570
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
3.51%
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%
$2,271,400
$2.3M
Cap Rate 7%
$1,622,429
$1.6M
Cap Rate 9%
$1,261,889
$1.3M
Market Conditions
NOI Build-Up for 3,481 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
$180.9K $51.96/SF
− Vacancy
−$18.6K −$5.35/SF
EGI
$162.2K $46.61/SF
− OpEx
−$48.7K −$13.98/SF
NOI
$113.6K $32.63/SF
Area
Miami, FL
Vacancy
10.30%
Lease Rate
$51.96 /SF/Yr
Expense Ratio
30.00%
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%
$2,271,400
Cap Rate 7%
$1,622,429
Cap Rate 9%
$1,261,889
Alternative Uses
Best Use
Retail
$1.62M
$1.42M – $1.89M
NOI $113,570 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.35M
$2.06M – $2.74M
NOI $164,479 @ 7.0% cap · market cap 5.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,387
Businesses Nearby
Explore this area
Business Placement
Demographics for 33156, FL
34,036
Population
13,215
Households
2.6
Avg Household Size
42
Median Age
66%
College-Educated
97%
High-School Grad
13.9 sq mi
ZIP Area
2,449
Density / Sq Mi
$134,720
Median Household Income
$66,117
Median Earnings
$1,936
Median Rent
$1,063,100
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 property - Retail property with an absolute NNN corporate lease.
Where is this retail property located?
The property is located at 9711 SW 77th Ave Miami, FL.
What is the asking price?
The asking price for this property is $3,238,800.
What are key features of this property?
This property features: Corporate Lease in place; Absolute NNN Lease; 7 Years Remaining on Lease
