Air-Conditioned Warehouse and Office
For Sale
$405,000
10871 SW 188th St 12, Cutler Bay, FL 33157
Air-conditioned warehouse and office with high ceilings and parking.
Property Size1,158 SF
Days on Market269
Property Features for 10871 SW 188th St 12
General Information
Standard status
Active
Size
1,158 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$2,539
Building Details
Building Size
1,158 SF
Year Built
2006
Stories
1
Listing Agency:
Intelliagents Realty, LLC
(305) 972-5528
Listed By:
Amanda Diaza-Hernandez
(305) 972-5528
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 16
Last Checked: Aug 24 at 8:26AM
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 Intelliagents Realty, LLC
Investment Insights
Based on property information with market context.
This property features air-conditioned office and warehouse space, both under air conditioning. The building includes new floors and a twin-T concrete roof. The warehouse has a 21-foot ceiling height. Two assigned parking spaces are located in front of the warehouse, with additional visitor parking spaces available throughout the property. The building is centrally located with access to the Florida Turnpike, Eureka Drive, and US1. The property is primarily owner-user occupied. Automotive or agricultural uses are not permitted.
Key Highlights
- Air‑conditioned office and warehouse, all under AC
- Central location with easy access to Florida Turnpike, Eureka Drive, and US1
- Impressive 21‑foot ceiling height
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
$15,180
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
3.75%
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%
$303,600
$303.6K
Cap Rate 7%
$216,857
$216.9K
Cap Rate 9%
$168,667
$168.7K
Market Conditions
NOI Build-Up for 1,158 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
$17.9K $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%
$303,600
Cap Rate 7%
$216,857
Cap Rate 9%
$168,667
Alternative Uses
Best Use
Warehouse
$216.9K
$189.8K – $253.0K
NOI $15,180 @ 7.0% cap · market cap 3.75%
Second Best
Industrial
$178.6K
$156.3K – $208.4K
NOI $12,501 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$587.5K
$514.1K – $685.4K
NOI $41,125 @ 7.0% cap · market cap 10.15%
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
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Frequently Asked Questions
What type of property is this?
Warehouse - Air-conditioned warehouse and office with high ceilings and parking.
Where is this warehouse located?
The property is located at 10871 SW 188th St 12 Cutler Bay, FL.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: Air‑conditioned office and warehouse, all under AC; Central location with easy access to Florida Turnpike, Eureka Drive, and US1; Impressive 21‑foot ceiling height
