Warehouse Unit with Reserved
For Sale
$398,000
10431 NW 28th Street #E-104, Doral, FL 33172
Warehouse unit with reserved parking, a bathroom, and metal pellet racks near major highways and Miami International Airport.
Property Size983 SF
Price / SF$404.88
Days on Market9
Property Features for 10431 NW 28th Street #E-104
General Information
Standard status
Active
Size
983 SF
Total Parking Spaces
3
Zoning
7700
Additional Details
Warehouse Space
983 SF
Taxes and HOA fees
Annual Taxes
$4,116
Building Details
Building Size
983 SF
Year Built
1988
Listing Agency:
Pink Elephant Realty LLC
Listed By:
Margarita Coto · License #A12075930
(305) 763-7673
Source:
Laerrealty
Added: Aug 26
Changed: Aug 27
Last Checked: Sep 2 at 1:55PM
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 warehouse unit provides 983 square feet of commercial space with one bathroom, three reserved parking spots, and metal pellet racks. The property was built in 1988 and is located at 10431 NW 28th St #E-104 in Doral, Florida.
The location offers access to major highways and Miami International Airport, supporting regional connectivity for warehouse operations and commercial users.
The location offers access to major highways and Miami International Airport, supporting regional connectivity for warehouse operations and commercial users.
Key Highlights
- 983 SF warehouse unit
- 3 reserved parking spots
- 1 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
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.
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse unit with reserved parking, a bathroom, and metal pellet racks near major highways and Miami International Airport.
Where is this warehouse located?
The property is located at 10431 NW 28th Street #E-104 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 SF warehouse unit; 3 reserved parking spots; 1 bathroom
