Corner Flex Space with Office and
For Sale
$839,000
2451 NW 109th Ave, Sweetwater, FL 33172
COMMERCIAL - Sweetwater, FL
Property Size1,710 SF
Lot Size0.04 Acres
Price / SF$490.64
Days on Market206
Property Features for 2451 NW 109th Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
7100
Parking
4
Parking features
Guest
Subdivision
30
Standard status
Active
APN
25-30-31-038-0060
Lot size
0.04 Acres
Taxes and HOA fees
Tax Description
MARA PLAZA CONDO UNIT 6 UNDIV 12.573628% INT IN COMMON ELEMENTS OFF REC 24264-2171 COC 24972-3464 09 2006 5 F/A/U 3030310380060
Tax Annual Amount
7796
HOA Fee
$928 Annually
Legal Description
MARA PLAZA CONDO UNIT 6 UNDIV 12.573628% INT IN COMMON ELEMENTS OFF REC 24264-2171 COC 24972-3464 09 2006 5 F/A/U 3030310380060
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
2005
Floors in Building
1
Flooring type
Tile - Ceramic, Concrete
Listing Agency:
Florida Capital Realty
(786) 953-5870
Listed By:
Roque Gargano · License #3466180
(305) 986-3851
Added: Jan 20
Changed: Aug 6
Last Checked: Aug 14 at 7:06AM
MLS# A11871126
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.
Corner flex space at 2451 NW 109th Ave in Sweetwater, built in 2005. The space includes 1,710 SF under AC, plus 600 SF of office and showroom. Interior finishes include ceramic tile and concrete, with central air and central electric heat. The unit has accordion shutters, a street-level vaulted loading door (16 ft), a separate entrance, and a private bathroom. Parking includes 4 assigned spaces plus guest parking.
The property is exposed to a busy intersection on 25th St and is positioned near major highways and the Dolphin f and international mall. The space is currently operated as a gym with a long-term tenant, and the lease is stated to have expired on Aug 2027. HOA maintenance is described as including insurance, roof, exterior paint, and reserves. Showings require 24 hours notice, Monday through Friday from 9 am to 5 pm, and the tenant should not be disturbed.
The property is exposed to a busy intersection on 25th St and is positioned near major highways and the Dolphin f and international mall. The space is currently operated as a gym with a long-term tenant, and the lease is stated to have expired on Aug 2027. HOA maintenance is described as including insurance, roof, exterior paint, and reserves. Showings require 24 hours notice, Monday through Friday from 9 am to 5 pm, and the tenant should not be disturbed.
Key Highlights
- 1,710 SF under AC plus 600 SF office and showroom
- Corner unit exposed to busy intersection on 25th St
- Street‑level vaulted loading door, 16 ft
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
$37,613
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
4.48%
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%
$752,260
$752.3K
Cap Rate 7%
$537,329
$537.3K
Cap Rate 9%
$417,922
$417.9K
Market Conditions
NOI Build-Up for 1,710 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
$61.6K $36.00/SF
− Vacancy
−$3.7K −$2.16/SF
EGI
$57.9K $33.84/SF
− OpEx
−$20.3K −$11.84/SF
NOI
$37.6K $22.00/SF
Area
Miami-Dade County, FL
Vacancy
6.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
35.00%
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%
$752,260
Cap Rate 7%
$537,329
Cap Rate 9%
$417,922
Alternative Uses
Best Use
Flex RnD
$537.3K
$470.2K – $626.9K
NOI $37,613 @ 7.0% cap · market cap 4.48%
Second Best
Warehouse
$320.2K
$280.2K – $373.6K
NOI $22,416 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$867.6K
$759.1K – $1.01M
NOI $60,729 @ 7.0% cap · market cap 7.24%
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
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,539
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33172, FL
43,911
Population
16,103
Households
2.7
Avg Household Size
42
Median Age
32%
College-Educated
75%
High-School Grad
6.4 sq mi
ZIP Area
6,861
Density / Sq Mi
$61,733
Median Household Income
$35,061
Median Earnings
$1,926
Median Rent
$260,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space features street-level loading, separate entrance, and office/showroom space with private bathroom.
Where is this flex space located?
The property is located at 2451 NW 109th Ave Sweetwater, FL.
What is the asking price?
The asking price for this property is $839,000.
What are key features of this property?
This property features: 1,710 SF under AC plus 600 SF office and showroom; Corner unit exposed to busy intersection on 25th St; Street‑level vaulted loading door, 16 ft
