Corner Flex Space Warehouse
For Sale
$1,995,000
Pending
13275 SW 136th St, Miami, FL 33186
SINGLE_FAMILY - Miami, FL
Property Size6,121 SF
Lot Size0.14 Acres
Days on Market44
Property Features for 13275 SW 136th St
General Information
Property type
Residential
Property subtype
Retail
Zoning description
7100
Parking
5
Parking features
Assigned, Guest
Directions
Located just to the east of Tamiami Airport off of SW 136th Street. As you pull into the driveway, unit #17 is located to the rear of the complex on the right side.
Subdivision
59
Standard status
Pending
APN
30-59-14-099-0170
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
TAMIAMI INDUSTRIAL PARK CONDO UNIT 17 UNDIV 7.356% INT IN COMMON ELEMENTS OFF REC 23133-2410 COC 23441-0054 05 2005 1
Tax Annual Amount
15487
HOA Fee
$1,071 Monthly
Legal Description
TAMIAMI INDUSTRIAL PARK CONDO UNIT 17 UNDIV 7.356% INT IN COMMON ELEMENTS OFF REC 23133-2410 COC 23441-0054 05 2005 1
Utilities
Sewer type
Public Sewer
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
2004
Floors in Building
1
Flooring type
Concrete, Vinyl
Building materials
Block, Pre-Cast Concrete
Roof type
Concrete
Listing Agency:
BHHS EWM Realty
(305) 960-2400
Listed By:
Frank Kissel Jr · License #3164676
(305) 496-0901
Added: Jun 30
Changed: Aug 3
Last Checked: Aug 12 at 6:06PM
MLS# A11888303
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 corner flex space warehouse condo offers 6,121 SF total for an owner-user or investment. The warehouse area is 5,765 SF +/- clear and includes a bay door, 25' +/- ceilings, twin T construction, 3-phase electric, and concrete floors.
An adjoining 356 SF +/- office/retail shop is fully air-conditioned and includes a separate customer entrance, along with 2 rest rooms. Parking includes 5 assigned spaces in the building parking lot, plus additional guest parking.
Built in 2004, the property sits on a 0.1405-acre lot and features block and pre-cast concrete construction with a concrete roof. Utilities include public water and public sewer. The location is one block from Tamiami Airport and next to Amazon's Distribution Center, with convenient access to Florida's Turnpike and 874 for travel throughout South Florida.
An adjoining 356 SF +/- office/retail shop is fully air-conditioned and includes a separate customer entrance, along with 2 rest rooms. Parking includes 5 assigned spaces in the building parking lot, plus additional guest parking.
Built in 2004, the property sits on a 0.1405-acre lot and features block and pre-cast concrete construction with a concrete roof. Utilities include public water and public sewer. The location is one block from Tamiami Airport and next to Amazon's Distribution Center, with convenient access to Florida's Turnpike and 874 for travel throughout South Florida.
Key Highlights
- 6,121 SF corner warehouse condo for owner‑user or investment
- 5,765 SF +/- clear warehouse with bay door and 25' +/- ceilings
- 3‑phase electric and concrete floors
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
$147,357
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
7.39%
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%
$2,947,140
$2.9M
Cap Rate 7%
$2,105,100
$2.1M
Cap Rate 9%
$1,637,300
$1.6M
Market Conditions
NOI Build-Up for 6,121 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
$251.2K $41.04/SF
− Vacancy
−$40.7K −$6.65/SF
EGI
$210.5K $34.39/SF
− OpEx
−$63.2K −$10.32/SF
NOI
$147.4K $24.07/SF
Area
ZIP 33186
Vacancy
16.20%
Lease Rate
$41.04 /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%
$2,947,140
Cap Rate 7%
$2,105,100
Cap Rate 9%
$1,637,300
Alternative Uses
Best Use
Retail
$2.11M
$1.84M – $2.46M
NOI $147,357 @ 7.0% cap · market cap 7.39%
Second Best
Warehouse
$1.43M
$1.25M – $1.66M
NOI $99,855 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$3.34M
$2.92M – $3.90M
NOI $233,977 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
25 ft
Clear height
Location Intelligence
Trade Area within ½ mile
2,584
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
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Frequently Asked Questions
What type of property is this?
Flex space - Corner flex space warehouse condo with an air-conditioned office/retail component and assigned parking in a light industrial setting.
Where is this flex space located?
The property is located at 13275 SW 136th St Miami, FL.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 6,121 SF corner warehouse condo for owner‑user or investment; 5,765 SF +/- clear warehouse with bay door and 25' +/- ceilings; 3‑phase electric and concrete floors
