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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7007 77th Ave Miami, FL 33166-2836

    • Office buildings
    • 30,045 SF
    • 3.64 lot acres
    OFF-MARKET
    Value Estimations
    $12,940,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5284234
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Z 92.3 / Radio Broadcaster
    • WCMQ / Radio Broadcaster
    • Wrma / Radio Broadcaster
    • Mega Media Holdings Inc / Radio Broadcaster
    • LaMusica / Corporate Office

    Property Details for 7007 77th Ave

    Year built
    1969
    Construction
    CONCRETE
    Lot size
    3.64 lot acres
    Property size
    30,045 SF
    Zone code
    7100:INDUSTRIAL,LIGHT MFG
    Property type
    Office buildings
    APN
    30-3014-010-0031
    APU
    3030140100031

    Description

    This exceptional 67,382 square foot flex space property, situated on a 5.37-acre lot in Medley, Florida, presents a unique investment opportunity. The Class B building, constructed in 1969 and renovated in 2009, boasts 180 parking spaces and is currently 100% occupied by a credit-rated tenant under a NNN lease commencing July 1, 2024, with a 1.5% annual rent bump. The property features a two-story building with a mix of office, showroom, studio, and industrial space, all under 100% HVAC. Its prime location on NW 77th Avenue offers exceptional visibility with approximately 267,000 vehicles passing daily on the adjacent Palmetto Expressway (SR 826). The property is zoned IU-1 in Miami-Dade County and offers significant redevelopment potential on an additional 1.74 acres of developable land. The asking price is $24,800,000, representing a price per square foot of $368.05 and a land value of $106 per square foot. The property's strong NOI of $1,000,000 and its location in a Qualified Opportunity Zone (QOZ) make it an attractive investment for owner-users and investors alike. A leaseback option of up to two years from the current tenant is available. This is a fee-simple ownership opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $15,325,000
      6.5%
      $14,145,000
      7%
      $13,135,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.3208
    Latitude
    25.8376
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $161,249
    $5,546,625
    $6,234,446
    $11,781,071
    -
    $5,546,625
    $6,234,446
    $11,781,071

    Comparable in this City

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      50,996 SF

      657 Ss Dr

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      View Details
    • Value Estimation
      $1,945,000
      6,178 SF

      5454 77th Ct

      OFFICE BUILDING • 6,178 SF
      5454 77th Ct, Doral, FL 33166-4115
      View Details
    • Value Estimation
      $2,080,000
      499 SF

      7950 53rd St Ste, Unit 110

      OFFICE BUILDING (MULTI-STORY) • 499 SF
      7950 53rd St Ste, Doral, FL 33166-4681
      View Details
    • Value Estimation
      $1,805,000
      434 SF

      7950 53rd St Ste, Unit 112

      OFFICE BUILDING (MULTI-STORY) • 434 SF
      7950 53rd St Ste, Doral, FL 33166-4681
      View Details
    • Value Estimation
      $1,790,000
      430 SF

      7950 53rd St Ste, Unit 126

      OFFICE BUILDING (MULTI-STORY) • 430 SF
      7950 53rd St Ste, Doral, FL 33166-4636
      View Details
    • Value Estimation
      $1,670,000
      401 SF

      7950 53rd St Ste, Unit 209

      OFFICE BUILDING (MULTI-STORY) • 401 SF
      7950 53rd St Ste, Doral, FL 33166-4637
      View Details

    Similar Nearby for Sale

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      Renovated Freestanding Building on Corner

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    Similar Nearby for Lease

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      Elegant 4-Story Office Space in NW Miami

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      Doral Office Space For Lease

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    • $0.01 SF/Yr
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      Doral Office Space: 2530 SF

      Modern Doral office, 2530 sq ft, abundant parking.
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    • $1.40 SF/Yr
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      Doral Office Space Available

      1,674 SF office space in Corporate Park of Doral.
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    • $20 SF/Yr
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      Miami Flex Space for Lease

      Flex space with office and warehouse, near major transportation routes.
      7208 Nw 72Nd Ave, Miami, FL 33166
      View Details
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    7007 77th Ave
    Miami, FL 33166-2836
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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