Miami single-tenant net lease cap rates
Miami-Dade County · Updated September 2026
Current range
5.75% – 6.75%
Net lease buyers are often 1031 exchange buyers, and they pay for certainty.
Typical expenses
5%
of collected income, paid by the owner
What moves a single-tenant net lease property within the range
- Tenant credit. Investment-grade tenants trade at the lowest cap rates.
- Years left on the lease and rent increases. Long terms with increases command a premium.
- Lease structure. True NNN leases, where the tenant pays everything, trade tighter than leases with landlord obligations.
- Location and age. Core neighborhoods trade about 0.25% tighter, outer markets about 0.50% wider, and buildings from before 1980 about 0.25% wider.
What a quarter point is worth
Take a single-tenant net lease property with $500,000 of net operating income. At today’s range, every 0.25% change in cap rate moves its value by about $307,692.
| Cap rate | Value at $500,000 NOI |
|---|---|
| 5.50% | $9,090,909 |
| 5.75% | $8,695,652 |
| 6.25% | $8,000,000 |
| 6.75% | $7,407,407 |
| 7.00% | $7,142,857 |
Questions
What is a good cap rate for single-tenant net lease in Miami?
Stabilized single-tenant net lease properties in Miami-Dade are trading at 5.75% to 6.75%. A lower cap rate means a higher price for the same income. Whether a given cap rate is good depends on whether you are buying or selling.
How do I calculate the value of a single-tenant net lease property?
Divide the net operating income by the cap rate. A property netting $500,000 a year at a 6.25% cap rate is worth about $8,000,000.
What expenses come out of net operating income?
Property taxes, insurance, repairs, management, utilities the owner pays and reserves. Not the mortgage. For single-tenant net lease, owner-paid expenses typically run about 5% of collected income.
Other property types: Multifamily (10+ units) · Small multifamily (2–9 units) · Retail / strip center · Office · Medical office · Industrial / warehouse · Mixed use · Self storage · Hotel / motel · Auto service / gas. Land values by neighborhood: see the table.
What is your single-tenant net lease property worth?
Enter your address and we pull the county record. Add your rent and expenses and you will see your cap rate and value range against today's single-tenant net lease market. It is free.
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