Cutler Bay Warehouse
For Sale
$349,900
10665 SW 190th St 3102, Cutler Bay, FL 33157
Functional warehouse space in a strategically located industrial corridor.
Property Size1,156 SF
Days on Market133
Property Features for 10665 SW 190th St 3102
General Information
Standard status
Active
Size
1,156 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$2,919
Building Details
Building Size
1,156 SF
Year Built
2008
Listing Agency:
FAUSTO COMMERCIAL REALTY CONSULTANTS INC
Listed By:
Benjamin Kunzle · License #A11995871
(754) 204-8236
Source:
Elliman
Added: Apr 24
Changed: Aug 31
Last Checked: Sep 1 at 10:15PM
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 FAUSTO COMMERCIAL REALTY CONSULTANTS INC
Investment Insights
Based on property information with market context.
Located in a strategically positioned industrial area of South Miami-Dade, the warehouse unit at 10665 SW 190th Street, Unit 3102, offers a functional and versatile space suitable for owner-users, small businesses, or investors. The unit features an efficient layout designed to accommodate storage, distribution, light manufacturing, or service-based operations. The clear interior space allows for flexible build-out to meet diverse business requirements. Convenient access facilitates daily operations, loading, and logistics. The property benefits from connectivity to US-1, Florida’s Turnpike, and surrounding South Miami-Dade submarkets, providing access to suppliers, clients, and workforce. The location is minutes from major roadways and commercial hubs. The property has a bike score of 66, making it bikeable, a walk score of 81, indicating it is very walkable, and a transit score of 29, suggesting some transit options are available.
Key Highlights
- Strategically located in a growing industrial corridor of South Miami‑Dade.
- Functional and versatile warehouse space suitable for various business needs.
- Excellent connectivity to major roadways (US‑1, Florida’s Turnpike) and surrounding submarkets.
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
$15,154
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
4.33%
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%
$303,080
$303.1K
Cap Rate 7%
$216,486
$216.5K
Cap Rate 9%
$168,378
$168.4K
Market Conditions
NOI Build-Up for 1,156 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
$18.9K $16.32/SF
− Vacancy
−$1.0K −$0.90/SF
EGI
$17.8K $15.42/SF
− OpEx
−$2.7K −$2.31/SF
NOI
$15.2K $13.11/SF
Area
ZIP 33157
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%
$303,080
Cap Rate 7%
$216,486
Cap Rate 9%
$168,378
Alternative Uses
Best Use
Warehouse
$216.5K
$189.4K – $252.6K
NOI $15,154 @ 7.0% cap · market cap 4.33%
Second Best
Industrial
$178.3K
$156.0K – $208.0K
NOI $12,480 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$586.5K
$513.2K – $684.2K
NOI $41,054 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,394
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33157, FL
68,069
Population
23,176
Households
2.9
Avg Household Size
42
Median Age
33%
College-Educated
86%
High-School Grad
14.9 sq mi
ZIP Area
4,568
Density / Sq Mi
$80,364
Median Household Income
$38,803
Median Earnings
$1,493
Median Rent
$478,300
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 - Functional warehouse space in a strategically located industrial corridor.
Where is this warehouse located?
The property is located at 10665 SW 190th St 3102 Cutler Bay, FL.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Strategically located in a growing industrial corridor of South Miami‑Dade.; Functional and versatile warehouse space suitable for various business needs.; Excellent connectivity to major roadways (US‑1, Florida’s Turnpike) and surrounding submarkets.
