Air-Conditioned Flex
For Sale
$700,000
Miami, FL 33186, Miami, FL 33186
Commercial Sale, Miami, FL
Property Size2,250 SF
Lot Size0.05 Acres
Price / SF$311.11
Days on Market68
Property Features
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
7700
Subdivision
59
Standard status
Active
APN
30-59-14-027-0010
Lot size
0.05 Acres
Taxes and HOA fees
Tax Description
KENDALL PINES BUS CENTER CONDO UNIT 1 UNDIV 5.025% INT IN COMMON ELEMENTS OFF REC 13211-3026 OR 15673-1346 0792 5
Tax Annual Amount
8008
HOA Fee
$560 Monthly
Legal Description
KENDALL PINES BUS CENTER CONDO UNIT 1 UNDIV 5.025% INT IN COMMON ELEMENTS OFF REC 13211-3026 OR 15673-1346 0792 5
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
2020
Floors in Building
2
Flooring type
Laminate, Concrete
Building materials
Block
Listing Agency:
RE/MAX Advance Realty II · RE/MAX International
(305) 251-2127
Listed By:
Dania Diaz · License #3140615
(786) 380-5180
Added: Jun 30
Changed: Sep 2
Last Checked: Sep 5 at 3:06AM
MLS# A12005777
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 2020 flex property combines a climate-controlled commercial facility with warehouse, office, showroom, and storage components. The 2,250-square-foot building includes a warehouse area with 20-foot clear height and a grade-level door. Additional second-level areas measure 760 square feet plus 160 square feet of storage space. Block construction, concrete and laminate flooring, central air, and electric heating are in place.
The property occupies a corner end-cap position with frontage along SW 120 ST and access near highways. Parking is arranged both at the front office entrance and in a private rear area. Public water and public sewer serve the site, while the facility’s layout supports a combination of operational, display, and administrative functions.
The property occupies a corner end-cap position with frontage along SW 120 ST and access near highways. Parking is arranged both at the front office entrance and in a private rear area. Public water and public sewer serve the site, while the facility’s layout supports a combination of operational, display, and administrative functions.
Key Highlights
- 2,250 Sq FT facility with central air conditioning
- 20' clear warehouse area with grade level door
- Second level includes 760 +160 extra Sq Ft for storage
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
$36,705
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
5.24%
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%
$734,100
$734.1K
Cap Rate 7%
$524,357
$524.4K
Cap Rate 9%
$407,833
$407.8K
Market Conditions
NOI Build-Up for 2,250 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
$45.4K $20.16/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$43.2K $19.19/SF
− OpEx
−$6.5K −$2.88/SF
NOI
$36.7K $16.31/SF
Area
ZIP 33186
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%
$734,100
Cap Rate 7%
$524,357
Cap Rate 9%
$407,833
Alternative Uses
Best Use
Office B
$1.03M
$897.2K – $1.20M
NOI $71,776 @ 7.0% cap · market cap 10.25%
Second Best
Warehouse
$524.4K
$458.8K – $611.8K
NOI $36,705 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$1.23M
$1.08M – $1.43M
NOI $86,007 @ 7.0% cap · market cap 12.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
1
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,051
Businesses Nearby
Under-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 Office in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Corner commercial facility combining warehouse, office, showroom, storage, and on-site parking areas.
Where is this flex space located?
The property is located at Miami, FL.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 2,250 Sq FT facility with central air conditioning; 20' clear warehouse area with grade level door; Second level includes 760 +160 extra Sq Ft for storage
