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For sale
Warehouses
FL
Cutler Bay
33157
10338 SW 187th St #5 10356 SW 187th St # 14

Miami Warehouse Condo Bays

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

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

$2,159,500

For Sale

$2,159,500

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

Property Size7,450 SF

Price / SF$289.87

AddedNov 26, 2025

Days on Market232

Last RefreshJul 15 at 12:54 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

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

Investment Insights

Based on property information with market context.

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.

Key Highlights

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.

Local Financial Insights For Warehouse

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$121.6k	$16.32
− Vacancy	−$6.7k	−$0.90
EGI	$114.9k	$15.42
− OpEx	−$17.2k	−$2.31
NOI	$97.7k	$13.11

7,450 SF · lease $16.32/SF/yr · vacancy 5.50% · expense 15.00%

Alternative Uses

Best Use

Warehouse

$1.40M

$1.22M – $1.63M (±1% cap)

NOI $97,662 @ 7.0% cap · market cap 4.52%

Second Best

Industrial

$1.15M

$1.01M – $1.34M (±1% cap)

NOI $80,428 @ 7.0% cap · market cap 3.72%

Theoretical Best

Office A

$3.78M

$3.31M – $4.41M (±1% cap)

NOI $264,579 @ 7.0% cap · market cap 12.25%

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

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Manufacturing properties

Suggested Use

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For sale
Warehouses
FL
Cutler Bay
33157
10338 SW 187th St #5 10356 SW 187th St # 14

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 is the asking price?

The asking price for this property is $2,159,500.

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.