Flex Warehouse with
For Sale
$695,000
10411 NW 28th Street, Doral, FL 33172
Warehouse with a rear office and open warehouse area, both with air conditioning in a gated, fenced industrial park.
Property Size1,574 SF
Days on Market46
Property Features for 10411 NW 28th Street
General Information
Standard status
Active
Size
1,574 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$5,641
Building Details
Building Size
1,574 SF
Year Built
1987
Listing Agency:
United Real Estate Miami
(305) 484-5298
Listed By:
Maria T Gallo · License #3199372
(305) 484-5298
Source:
Silverleafrealtygroup
Added: Jul 10
Changed: Aug 24
Last Checked: Aug 21 at 10:00PM
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 United Real Estate Miami
Investment Insights
Based on property information with market context.
This warehouse property is set up as a flex-style layout with two distinct areas: an office at the rear and an open area that can be used as warehouse space or as additional office space. Both areas include air conditioning, supporting flexible day-to-day operations.
The property is located within West Dade Business Center in Doral, described as close to 107 and 25 st. The industrial park is fenced and provides security features including restricted access after 8:00 pm and during weekends, with access by code.
The offering is for sale.
The property is located within West Dade Business Center in Doral, described as close to 107 and 25 st. The industrial park is fenced and provides security features including restricted access after 8:00 pm and during weekends, with access by code.
The offering is for sale.
Key Highlights
- Warehouse built in 1987 in Doral, West Dade Business Center.
- Two distinct areas: rear office plus open warehouse area for warehouse or office use.
- Both the rear office and open area have air conditioning.
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
$34,622
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
4.98%
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%
$692,440
$692.4K
Cap Rate 7%
$494,600
$494.6K
Cap Rate 9%
$384,689
$384.7K
Market Conditions
NOI Build-Up for 1,574 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
$56.7K $36.00/SF
− Vacancy
−$3.4K −$2.16/SF
EGI
$53.3K $33.84/SF
− OpEx
−$18.6K −$11.84/SF
NOI
$34.6K $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%
$692,440
Cap Rate 7%
$494,600
Cap Rate 9%
$384,689
Alternative Uses
Best Use
Flex RnD
$494.6K
$432.8K – $577.0K
NOI $34,622 @ 7.0% cap · market cap 4.98%
Second Best
Warehouse
$294.8K
$257.9K – $343.9K
NOI $20,634 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$798.6K
$698.7K – $931.7K
NOI $55,899 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,936
Businesses Nearby
Balanced
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Warehouse with a rear office and open warehouse area, both with air conditioning in a gated, fenced industrial park.
Where is this flex space located?
The property is located at 10411 NW 28th Street Doral, FL.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Warehouse built in 1987 in Doral, West Dade Business Center.; Two distinct areas: rear office plus open warehouse area for warehouse or office use.; Both the rear office and open area have air conditioning.
