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

    777 79Th St Miami, FL 33138

    • Office buildings
    • 6,025 SF
    • 0.29 lot acres
    For Sale
    View listing
    $3,900,000
    Last Sale
    Mar 17, 2023
    $1,300,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5547938
    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

    • 777 Complex / Event Venue
    • Olivier Associates / Attorney

    Property Details for 777 79Th St

    Year built
    1971
    Construction
    CONCRETE
    Lot size
    0.29 lot acres
    Property size
    6,025 SF
    Zone code
    6101
    Property type
    Office buildings
    APN
    01-3207-016-3301
    APU
    132070163301

    Description

    This exceptional 5,177 square foot mixed-use property, located at 777 NE 79th St in Miami, Florida, presents a unique investment opportunity. Situated on a 0.29-acre lot in Miami-Dade County (APN: 01-32-07-016-3301), this single-story, Class C building boasts over 100 feet of frontage on NE 79th Street, offering unparalleled visibility. Built in 1979 and extensively renovated in 2022, including a new roof and 40-year recertification, the property is currently vacant and ready for immediate occupancy. The flexible layout allows for diverse uses, including retail, office, restaurant, bar, nightclub, or special event space. Multiple entrances and high ceilings enhance its versatility. The property's prime location east of Biscayne Bay, across from the marina, provides excellent exposure to high traffic volume. Three covered parking spaces are a significant advantage in this area. Zoned 6101, this property is ideally positioned to capitalize on the growth of nearby new residential developments and its proximity to major arteries like Biscayne Boulevard (US1) and I-95, providing easy access to Miami Beach. Offered at $3,900,000 with a NNN lease type.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,545,000
      ML approach
      $1,535,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,083,000
      Market price range: $372k - $1.91M

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1802
    Latitude
    25.8482
    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
    $22,715
    $1,783,320
    $3,294
    $1,786,614
    -
    $1,783,320
    $3,294
    $1,786,614

    Comparable in this City

    • Value Estimation
      $1,465,000
      47,958 SF

      9999 2nd Ave

      OFFICE BUILDING • 47,958 SF
      9999 2nd Ave, Miami Shores, FL 33138-2352
      View Details
    • Value Estimation
      $540,000
      10,335 SF

      300 80th Ter

      PROFESSIONAL BUILDING • 10,335 SF
      300 80th Ter, Miami, FL 33138-4419
      View Details
    • Value Estimation
      $450,000
      3,182 SF

      835 79th St

      PROFESSIONAL BUILDING • 3,182 SF
      835 79th St, Miami, FL 33138-4740
      View Details
    • Value Estimation
      $5,655,000
      2,860 SF

      185 84th St

      OFFICE BUILDING • 2,860 SF
      185 84th St, Miami, FL 33138-3770
      View Details
    • Value Estimation
      $1,370,000
      3,633 SF

      7929 1st Ave

      OFFICE BUILDING (MULTI-STORY) • 3,633 SF
      7929 1st Ave, Miami, FL 33138-4305
      View Details
    • Value Estimation
      $935,000
      11,469 SF

      6444 Biscayne Blvd

      OFFICE BUILDING • 11,469 SF
      6444 Biscayne Blvd, Miami, FL 33138-6228
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Mimo District Office Space

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      Miami MIMO District Building For Sale

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    Similar Nearby for Lease

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      View Details
    • $45 SF/Yr
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      Office Warehouse Space For Rent

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      View Details
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      Miami Office Space For Rent

      Office space available for lease in Miami, Florida.
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      View Details
    • New
      $1,865 /Mo

      Miami Shores Turnkey Office Suite

      875 sq ft office in amenity-rich Miami Shores corridor.
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      8,932 SF

      Bay Harbor Islands Office Space

      8,932 SF office space available October 2024.
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      Office/Retail Space Available for Lease

      Office/Retail space available for lease.
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      View Details
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    777 79Th St
    Miami, FL 33138
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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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