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    10338 SW 187th St #5 10356 SW 187th St # 14 Cutler Bay, FL 33157

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    Two adjoining warehouse condo bays totaling 7,450 square feet.

    Type:Industrial
    Property size:
    7,450 SF
    Added:
    Nov 26, 2025
    Days on Market:
    128
    Last Refresh:
    Apr 1 at 9:59 pm

    Property Features for 10338 SW 187th St #5 10356 SW 187th St # 14

    General Information

    Standard status
    Active
    Size
    7,450 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    1976

    We can help!

    Listing Contact
    Matthew Rotolante, SIOR, CCIM

    Listing agent Matthew Rotolante, SIOR, CCIM License ##BK3531036

    Listing office

    Listing date Nov 26, 2025

    Source Lee-associates

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Matthew Rotolante, SIOR, CCIM

    Overview

    Miami Warehouse Condo Bays

    Located in Miami's Palms Industrial Park, this property features two adjoining warehouse condo bays totaling 7,450 square feet. Condo Bay #5 comprises 3,730 square feet, while Condo Bay #14 spans 3,720 square feet. The units offer flexible space suitable for industrial operations. The property has 18-foot clear height and reinforced concrete construction, with 10’ x 12’ drive-in doors. Equipped with 220-amp, 3-phase power, and a sprinkler system, the bays are suitable for warehousing, distribution, or light manufacturing. Unit #5 has 100% HVAC. The flexible configuration allows for multi-tenant use. The condos can be sold together or separately. The location provides easy connections to major highways, including the Palmetto Expressway (SR 826), I-95, and Miami International Airport, facilitating distribution and logistics operations. The Palms Industrial Park is well-positioned for easy access to public transportation and is close to local amenities, including schools, parks, and recreational facilities. This location also presents potential for future value appreciation, with its proximity to growing neighborhoods and Miami's vibrant business environment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Self Storage — 18495 s dixie hwy, miami, fl 33157
    • Extra Space Storage — 17650 W Cleveland Ave, Palmetto Bay, FL 33157
    • Haul-O-Way — 9980 SW 168th Terrace, Miami, FL 33157
    • Near Me Self Storage Units Cutler Bay — 18495 S Dixie Hwy, Cutler Bay, FL 33157
    • Safeguard Self Storage — 17171 S Dixie Hwy, Palmetto Bay, FL 33157

    Location Insight

    • Map
    • Local Demand
    City
    Cutler Bay
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.3427
    Latitude
    25.6064

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    FAQs

    What type of property is this?
    Warehouse - Two adjoining warehouse condo bays totaling 7,450 square feet.
    Where is this warehouse located?
    The property is located at 10338 SW 187th St #5 10356 SW 187th St # 14 Cutler Bay, FL.
    What are key features of this property?
    This property features: Prime location in Miami's Palms Industrial Park with unparalleled accessibility to major highways and Miami International Airport.; Total of 7,450 square feet across two adjoining warehouse condo bays, offering flexible space.; Benefit from the **18‑foot clear height** and reinforced concrete construction.
    (305) 490-6526
    We can help!
    Listing Contact
    Matthew Rotolante, SIOR, CCIM
    Real Estate License ID: #BK3531036
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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