Flex Office/Warehouse
For Sale
$1,195,000
16155 SW 117th Ave, Miami, FL 33177
COMMERCIAL - Miami, FL
Property Size3,050 SF
Lot Size0.05 Acres
Price / SF$391.80
Days on Market18
Property Features for 16155 SW 117th Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
7700
Subdivision
50
Standard status
Active
APN
30-50-30-019-0420
Lot size
0.05 Acres
Taxes and HOA fees
Tax Description
SOUTH DADE BUSINESS CENTRE CONDO UNIT B15 UNDIV 1.852 INT IN COMMON ELEMENTS OFF REC 14258-1080 OR 17234-4186 0696 1
Tax Annual Amount
6158
HOA Fee
$330 Monthly
Legal Description
SOUTH DADE BUSINESS CENTRE CONDO UNIT B15 UNDIV 1.852 INT IN COMMON ELEMENTS OFF REC 14258-1080 OR 17234-4186 0696 1
Amenities
conference room
lunchroom
sitting room
Building Details
Year built
1989
Listing Agency:
Compass Florida, LLC
(305) 315-2396
Listed By:
Jorge Lopez · License #3247936
(786) 399-9278
Added: Jul 26
Changed: Aug 4
Last Checked: Aug 12 at 9:06PM
MLS# A11921205
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 two-story flex property combines office and warehouse space in a single, multi-purpose layout. The entry level includes reception space, an elegant glass conference room, multiple offices, a lunchroom, and two bathrooms, along with a spacious warehouse. Upstairs provides a sitting room, three additional offices, and another large area suitable for flexible use.
The property offers easy warehouse access on the back for loading. Parking includes two assigned spaces plus additional guest parking.
The building is configured with nine separate office areas across both levels and includes warehouse space for operational needs that require both work and storage under one roof.
The property offers easy warehouse access on the back for loading. Parking includes two assigned spaces plus additional guest parking.
The building is configured with nine separate office areas across both levels and includes warehouse space for operational needs that require both work and storage under one roof.
Key Highlights
- 2‑story flex space built in 1989 with 3,050 total SF combining office and warehouse
- Office layout includes reception area, glass conference room, lunchroom, and 2 bathrooms
- Warehouse access at the rear with easy loading for business operations
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
$80,840
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
6.76%
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%
$1,616,800
$1.6M
Cap Rate 7%
$1,154,857
$1.2M
Cap Rate 9%
$898,222
$898.2K
Market Conditions
NOI Build-Up for 3,050 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
$139.1K $45.60/SF
− Vacancy
−$31.3K −$10.26/SF
EGI
$107.8K $35.34/SF
− OpEx
−$26.9K −$8.84/SF
NOI
$80.8K $26.51/SF
Area
ZIP 33177
Vacancy
22.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,616,800
Cap Rate 7%
$1,154,857
Cap Rate 9%
$898,222
Alternative Uses
Best Use
Office B
$1.15M
$1.01M – $1.35M
NOI $80,840 @ 7.0% cap · market cap 6.76%
Second Best
Warehouse
$571.2K
$499.8K – $666.4K
NOI $39,983 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$1.55M
$1.35M – $1.81M
NOI $108,318 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
394
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33177, FL
56,331
Population
17,124
Households
3.3
Avg Household Size
41
Median Age
23%
College-Educated
84%
High-School Grad
12.6 sq mi
ZIP Area
4,471
Density / Sq Mi
$77,297
Median Household Income
$36,347
Median Earnings
$2,080
Median Rent
$399,000
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two-story flex building combines office areas and warehouse space with back loading access and assigned parking.
Where is this flex space located?
The property is located at 16155 SW 117th Ave Miami, FL.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: 2‑story flex space built in 1989 with 3,050 total SF combining office and warehouse; Office layout includes reception area, glass conference room, lunchroom, and 2 bathrooms; Warehouse access at the rear with easy loading for business operations
