Flex Space with
New
For Sale
$3,900,000
1748 NW 36th St, Miami, FL 33142
COMMERCIAL - Miami, FL
Property Size16,250 SF
Lot Size0.37 Acres
Price / SF$240
Days on Market2
Property Features for 1748 NW 36th St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
6100
Subdivision
31
Standard status
Active
APN
01-31-27-009-0050
Lot size
0.37 Acres
Taxes and HOA fees
Tax Description
27 53 41 COLONNAS SUB PB 11-69 LOTS 5 - 6 & W1/2 LOT 7 LOT SIZE 125.000 X 130 OR 19845-0275 0701 4
Legal Description
27 53 41 COLONNAS SUB PB 11-69 LOTS 5 - 6 & W1/2 LOT 7 LOT SIZE 125.000 X 130 OR 19845-0275 0701 4
Building Details
Year built
1969
Listing Agency:
RE/MAX Advance Realty II · RE/MAX International
(305) 251-2127
Listed By:
Phillip Delgado PA · License #3058962
(305) 989-3200
Added: Aug 17
Last Checked: Aug 18 at 5:06AM
MLS# A12072397
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 16,250-square-foot flex property combines retail and warehouse space with more than 3,000 square feet of mezzanine area. The owner currently uses the building for storage, and the improvements require some TLC. Constructed in 1969, the property occupies a 0.373-acre site.
The building is located at 1748 NW 36th St in Miami’s Buena Vista Corridor and sits within an Opportunity Zone. Its mixed retail and warehouse layout provides a broad commercial format, subject to the condition of the existing improvements.
The building is located at 1748 NW 36th St in Miami’s Buena Vista Corridor and sits within an Opportunity Zone. Its mixed retail and warehouse layout provides a broad commercial format, subject to the condition of the existing improvements.
Key Highlights
- 16,250 square feet of retail and warehouse space
- More than 3,000 square feet of mezzanine area
- 0.373‑acre site at 1748 NW 36th St, Miami, FL 33142
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
$265,094
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
6.80%
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%
$5,301,880
$5.3M
Cap Rate 7%
$3,787,057
$3.8M
Cap Rate 9%
$2,945,489
$2.9M
Market Conditions
NOI Build-Up for 16,250 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
$327.6K $20.16/SF
− Vacancy
−$15.7K −$0.97/SF
EGI
$311.9K $19.19/SF
− OpEx
−$46.8K −$2.88/SF
NOI
$265.1K $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%
$5,301,880
Cap Rate 7%
$3,787,057
Cap Rate 9%
$2,945,489
Alternative Uses
Best Use
Retail
$7.57M
$6.63M – $8.84M
NOI $530,167 @ 7.0% cap · market cap 13.59%
Second Best
Warehouse
$3.79M
$3.31M – $4.42M
NOI $265,094 @ 7.0% cap · market cap 6.80%
Theoretical Best
Specialty Retail
$10.97M
$9.60M – $12.80M
NOI $767,820 @ 7.0% cap · market cap 19.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,370
Businesses Nearby
Under-served
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
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 - Retail and warehouse configuration with owner storage use and additional mezzanine area.
Where is this flex space located?
The property is located at 1748 NW 36th St Miami, FL.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 16,250 square feet of retail and warehouse space; More than 3,000 square feet of mezzanine area; 0.373‑acre site at 1748 NW 36th St, Miami, FL 33142
