Renovated Flex Space with Loading
For Sale
$5,800,000
1395 NW 22nd St, Miami, FL 33142
Commercial Sale, Miami, FL
Property Size15,000 SF
Lot Size0.40 Acres
Price / SF$386.67
Days on Market91
Property Features for 1395 NW 22nd St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
7700
Parking
8
Parking features
On Street
Security features
Security System
Directions
On the North East corner of NW 22nd St and NW 14th Avenue.
Subdivision
31
Standard status
Active
APN
01-31-26-045-0120
Lot size
0.40 Acres
Taxes and HOA fees
Tax Description
26 53 41 BRADDOCKS NO 3 PB 2-71 LOTS 31 TO 36 INC LESS N20FT BLK 2 & LESS EXT AREA OF CURVE IN SW COR FOR R/W LOT SIZE 17493 SQ FT M/L OR 23
Tax Annual Amount
46615
Legal Description
26 53 41 BRADDOCKS NO 3 PB 2-71 LOTS 31 TO 36 INC LESS N20FT BLK 2 & LESS EXT AREA OF CURVE IN SW COR FOR R/W LOT SIZE 17493 SQ FT M/L OR 23
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1954
Floors in Building
1
Number of units
2
Flooring type
Concrete
Architectural style
Other
Listing Agency:
Cayhill Dumott Realty LLC
Listed By:
Wendy Mendoza · License #3391020
(305) 318-8557
Added: Jun 30
Changed: Sep 2
Last Checked: Sep 28 at 4:06PM
MLS# A11853466
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 15,000 SF flex property occupies a 17,493 SF corner lot and is organized into two sections that can be combined. The approximately 5,000 SF first section is a renovated performing arts studio with 27-foot ceilings, updated A/C, electrical service, bathrooms, flooring, lighting, and a loading dock. It is currently used as a circus school. The second section contains approximately 10,000 SF with 14-foot ceilings, two offices, a dock-height loading dock, and an oversized street-level loading door for truck and delivery access.
The property has concrete flooring, on-street parking, public water, and public sewer. Built in 1954, it is located near Wynwood and the Medical Corridor in Miami’s Allapattah area.
The property has concrete flooring, on-street parking, public water, and public sewer. Built in 1954, it is located near Wynwood and the Medical Corridor in Miami’s Allapattah area.
Key Highlights
- Approximately 15,000 SF flex building on a 17,493 SF corner lot
- Two sections can be combined; approximately 5,000 SF and 10,000 SF
- Renovated studio section includes 27' ceilings and updated A/C, electrical, bathrooms, flooring, and lighting
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
$244,702
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
4.22%
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%
$4,894,040
$4.9M
Cap Rate 7%
$3,495,743
$3.5M
Cap Rate 9%
$2,718,911
$2.7M
Market Conditions
NOI Build-Up for 15,000 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
$302.4K $20.16/SF
− Vacancy
−$14.5K −$0.97/SF
EGI
$287.9K $19.19/SF
− OpEx
−$43.2K −$2.88/SF
NOI
$244.7K $16.31/SF
Area
Miami, FL
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%
$4,894,040
Cap Rate 7%
$3,495,743
Cap Rate 9%
$2,718,911
Alternative Uses
Best Use
Warehouse
$3.50M
$3.06M – $4.08M
NOI $244,702 @ 7.0% cap · market cap 4.22%
Second Best
Flex RnD
$3.14M
$2.75M – $3.67M
NOI $219,960 @ 7.0% cap · market cap 3.79%
Theoretical Best
Specialty Retail
$10.13M
$8.86M – $11.81M
NOI $708,757 @ 7.0% cap · market cap 12.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6,320
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Two-section commercial building offers adaptable studio, warehouse, office, and delivery functions.
Where is this flex space located?
The property is located at 1395 NW 22nd St Miami, FL.
What is the asking price?
The asking price for this property is $5,800,000.
What are key features of this property?
This property features: Approximately 15,000 SF flex building on a 17,493 SF corner lot; Two sections can be combined; approximately 5,000 SF and 10,000 SF; Renovated studio section includes 27' ceilings and updated A/C, electrical, bathrooms, flooring, and lighting
