Warehouse with Reserved
For Sale
$398,000
10431 28th St, Doral, FL 33172
Warehouse space includes a restroom, dedicated parking, and metal pellet racks for storage operations.
Property Size983 SF
Price / SF$404.88
Days on Market23
Property Features for 10431 28th St
General Information
Standard status
Active
Size
983 SF
Total Parking Spaces
3
Property subtype
General Commercial
Additional Details
Warehouse Space
983 SF
Taxes and HOA fees
Annual Taxes
$4,116
Amenities
3
Building Details
Year Built
1988
Listing Agency:
Pink Elephant Realty LLC
(305) 733-5858
Listed By:
Margarita Doubinina
Source:
Xome
Added: Aug 11
Changed: Sep 2
Last Checked: Sep 1 at 4:20PM
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 Pink Elephant Realty LLC
Investment Insights
Based on property information with market context.
This 983-square-foot warehouse in the Doral area was built in 1988 and includes one bathroom, three reserved parking spaces, and metal pellet racks. The existing improvements provide practical support for storage and warehouse use within a compact commercial footprint.
The property is located at 10431 28th St, Doral, FL 33172, with access to major highways and proximity to Miami International Airport. Its Doral-area setting places the warehouse near key transportation connections serving the broader Miami market.
The property is located at 10431 28th St, Doral, FL 33172, with access to major highways and proximity to Miami International Airport. Its Doral-area setting places the warehouse near key transportation connections serving the broader Miami market.
Key Highlights
- 983‑square‑foot warehouse in the Doral area
- Three reserved parking spaces
- One bathroom
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
$12,886
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
3.24%
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%
$257,720
$257.7K
Cap Rate 7%
$184,086
$184.1K
Cap Rate 9%
$143,178
$143.2K
Market Conditions
NOI Build-Up for 983 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
$16.0K $16.32/SF
− Vacancy
−$882 −$0.90/SF
EGI
$15.2K $15.42/SF
− OpEx
−$2.3K −$2.31/SF
NOI
$12.9K $13.11/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$16.32 /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%
$257,720
Cap Rate 7%
$184,086
Cap Rate 9%
$143,178
Alternative Uses
Best Use
Warehouse
$184.1K
$161.1K – $214.8K
NOI $12,886 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$498.7K
$436.4K – $581.8K
NOI $34,910 @ 7.0% cap · market cap 8.77%
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
Well-served
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.
Similar Off Market Nearby
- Nannybag Luggage Storage — 11231 NW 20th St #140, Miami, FL 33172
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- SPR Cold Storage & Distribution, LLC — 2000 NW 97th Ave Suite # 100, Doral, FL 33172
- Self-Storage at U-Haul — 10895 NW 21st St, Miami, FL 33172
- Hanza Solutions — 10895 NW 21st St, Miami, FL 33172
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse space includes a restroom, dedicated parking, and metal pellet racks for storage operations.
Where is this warehouse located?
The property is located at 10431 28th St Doral, FL.
What is the asking price?
The asking price for this property is $398,000.
What are key features of this property?
This property features: 983‑square‑foot warehouse in the Doral area; Three reserved parking spaces; One bathroom
