Flex Space Warehouse Condo with Grade-Level
For Sale
$450,000
13100 SW 134th St, Miami, FL 33186
Commercial Sale, Miami, FL
Property Size1,172 SF
Price / SF$383.96
Days on Market29
Property Features for 13100 SW 134th St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
7700
Subdivision
59
Standard status
Active
APN
30-59-14-114-0080
Taxes and HOA fees
Tax Description
NEXT BUSINESS CENTER I CONDO UNIT 8 BLDG A UNDIV 7.174% INT IN COMMON ELEMENTS OFF REC 24544-0336 COC 24995-1091 10 2006 1
Legal Description
NEXT BUSINESS CENTER I CONDO UNIT 8 BLDG A UNDIV 7.174% INT IN COMMON ELEMENTS OFF REC 24544-0336 COC 24995-1091 10 2006 1
Building Details
Year built
2006
Listing Agency:
Real Estate Sales Force
(305) 392-1497
Listed By:
Antonio Cristobal · License #3253230
(786) 457-3211
Added: Jul 27
Changed: Aug 19
Last Checked: Aug 24 at 9:06PM
MLS# A12060613
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex space industrial warehouse condominium offers a practical office/warehouse layout designed for loading and day-to-day operations. The space includes one grade-level bay door and is located within a well-maintained industrial park, providing a streamlined setup for a variety of industrial and commercial uses, subject to zoning and association approval.
The property is centrally located with convenient access to the Florida Turnpike and SR-874, along with other major roadways. Address: 13100 SW 134th St, Miami, FL 33186, in Miami-Dade County.
Built in 2006, the unit totals 1,172 SF and is well suited to an owner-user or an investment buyer seeking an industrial condo with functional internal layout and efficient access for warehouse activity.
The property is centrally located with convenient access to the Florida Turnpike and SR-874, along with other major roadways. Address: 13100 SW 134th St, Miami, FL 33186, in Miami-Dade County.
Built in 2006, the unit totals 1,172 SF and is well suited to an owner-user or an investment buyer seeking an industrial condo with functional internal layout and efficient access for warehouse activity.
Key Highlights
- 1,172 SF industrial warehouse condominium in a well‑maintained industrial park
- One grade‑level bay door for loading and operations
- Functional office/warehouse layout
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
$19,119
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
4.25%
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%
$382,380
$382.4K
Cap Rate 7%
$273,129
$273.1K
Cap Rate 9%
$212,433
$212.4K
Market Conditions
NOI Build-Up for 1,172 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
$23.6K $20.16/SF
− Vacancy
−$1.1K −$0.97/SF
EGI
$22.5K $19.19/SF
− OpEx
−$3.4K −$2.88/SF
NOI
$19.1K $16.31/SF
Area
ZIP 33186
Vacancy
4.80%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
15.00%
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%
$382,380
Cap Rate 7%
$273,129
Cap Rate 9%
$212,433
Alternative Uses
Best Use
Warehouse
$273.1K
$239.0K – $318.7K
NOI $19,119 @ 7.0% cap · market cap 4.25%
Second Best
Flex RnD
$270.1K
$236.3K – $315.1K
NOI $18,905 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$640.0K
$560.0K – $746.7K
NOI $44,800 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,434
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33186, FL
69,866
Population
24,397
Households
2.9
Avg Household Size
42
Median Age
36%
College-Educated
91%
High-School Grad
12.4 sq mi
ZIP Area
5,634
Density / Sq Mi
$86,481
Median Household Income
$46,755
Median Earnings
$2,021
Median Rent
$422,300
Median Home Value
Market
Vacancy Rate% for Industrial in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial park flex space condominium with functional office/warehouse layout and one grade-level bay door.
Where is this flex space located?
The property is located at 13100 SW 134th St Miami, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,172 SF industrial warehouse condominium in a well‑maintained industrial park; One grade‑level bay door for loading and operations; Functional office/warehouse layout
