Flex Space with Dock-Height
For Sale
Contact for pricing
10405 Nw 37th Ter, Doral, FL 33178
Flex space combines about 6,000 SF of finished office with about 5,530 SF of warehouse space.
Property Size11,530 SF
Price / SF$374.24
Days on Market148
Property Features for 10405 Nw 37th Ter
General Information
Standard status
Active
Size
11,530 SF
Total Parking Spaces
24
Property subtype
FLEX_R_AND_D
Warehouse & Industrial
Clear Height
20 ft
Dock-High Doors
1
Additional Details
Highway Access
Yes
Amenities
dedicated restrooms
Listing Agency:
Lang Realty- Central Boca Raton
(561) 998-0100
Listed By:
Lawrence 'Larry' Lidov
Source:
Moodyscre
Added: Apr 22
Changed: Sep 10
Last Checked: Sep 15 at 11:14AM
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 Lang Realty- Central Boca Raton
Investment Insights
Based on property information with market context.
This flex space totals 11,530 SF and is designed to combine office and warehouse functionality. The building includes approximately 6,000 SF of finished office space and approximately 5,530 SF of warehouse area with 20’ clear ceilings. Warehouse improvements include a dock-height dock and ramp, along with a private warehouse office. The office component features four private offices, two conference rooms, three open areas with 35 workstations, a tech room, kitchen, break room, and reception. Dedicated restrooms are in place, and furniture and pallet racks are included, supporting a turnkey setup.
The property is located in Doral with access to the Florida Turnpike and the 836 expressway, and it is also described as convenient to Miami International Airport.
Parking is available for 24 vehicles, and the property is offered for immediate occupancy.
The property is located in Doral with access to the Florida Turnpike and the 836 expressway, and it is also described as convenient to Miami International Airport.
Parking is available for 24 vehicles, and the property is offered for immediate occupancy.
Key Highlights
- 11,530 SF flex space in Doral with ~6,000 SF finished office and ~5,530 SF warehouse
- Warehouse includes 20’ clear ceilings plus dock‑height dock and ramp
- Private warehouse office with dedicated office features including four private offices, two conference rooms, and reception
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
$253,614
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
5.88%
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%
$5,072,280
$5.1M
Cap Rate 7%
$3,623,057
$3.6M
Cap Rate 9%
$2,817,933
$2.8M
Market Conditions
NOI Build-Up for 11,530 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
$415.1K $36.00/SF
− Vacancy
−$24.9K −$2.16/SF
EGI
$390.2K $33.84/SF
− OpEx
−$136.6K −$11.84/SF
NOI
$253.6K $22.00/SF
Area
ZIP 33178
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%
$5,072,280
Cap Rate 7%
$3,623,057
Cap Rate 9%
$2,817,933
Alternative Uses
Best Use
Flex RnD
$3.62M
$3.17M – $4.23M
NOI $253,614 @ 7.0% cap · market cap 5.88%
Second Best
Office B
$3.58M
$3.13M – $4.18M
NOI $250,708 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$5.85M
$5.12M – $6.82M
NOI $409,476 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
20 ft
Clear height
1
Dock-high doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,886
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33178, FL
65,487
Population
21,931
Households
3
Avg Household Size
37
Median Age
55%
College-Educated
86%
High-School Grad
61.1 sq mi
ZIP Area
1,072
Density / Sq Mi
$91,338
Median Household Income
$41,710
Median Earnings
$2,609
Median Rent
$499,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space combines about 6,000 SF of finished office with about 5,530 SF of warehouse space.
Where is this flex space located?
The property is located at 10405 Nw 37th Ter Doral, FL.
What is the asking price?
The asking price for this property is $4,315,000.
What are key features of this property?
This property features: 11,530 SF flex space in Doral with ~6,000 SF finished office and ~5,530 SF warehouse; Warehouse includes 20’ clear ceilings plus dock‑height dock and ramp; Private warehouse office with dedicated office features including four private offices, two conference rooms, and reception
