Mixed-Use Building with
New
For Sale
$1,300,000
1180 NW 119th St, Miami, FL 33168
Renovation plans include upgraded systems, impact-resistant openings, ADA bathrooms, and a new commercial kitchen.
Property Size3,516 SF
Lot Size0.17 Acres
Price / SF$369.74
Days on Market3
Property Features for 1180 NW 119th St
General Information
Standard status
Active
Size
3,516 SF
Lot size
0.17 Acres
Property subtype
Mixed Use
Zoning
UC Center - Mixed Use Corridor (MC) 6 MAX HT
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
3,516 SF
Year Built
1951
Buildings
1
Listing Agency:
LoKation
Listed By:
Javier Colon · License #3367073
(786) 271-5139
Source:
Marcelosteinmander
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 1 at 8:29PM
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 LoKation
Investment Insights
Based on property information with market context.
This mixed-use property includes a 3,516-square-foot building on a 7,575-square-foot lot and is currently undergoing a full renovation. Planned improvements include electrical, plumbing, and mechanical work, impact windows and doors, two ADA-compliant bathrooms, and a new commercial kitchen with a new hood. Front-facing parking is supplemented by an asphalted parking and open-storage area extending along the side and rear, with the property enclosed by a six-foot steel fence. The layout is described as large enough to accommodate two tenants.
The property fronts NW 119th St, also identified as SR 924, with an AADT of 47,000. It is 0.6 miles west of I-95, with direct access to I-75 and Florida's Turnpike, and six miles from Collins Ave. Current zoning is UC Center - Mixed Use Corridor (MC) 6 MAX HT in Dade County, with the stated option to combine commercial and residential uses in a building up to six stories.
The property fronts NW 119th St, also identified as SR 924, with an AADT of 47,000. It is 0.6 miles west of I-95, with direct access to I-75 and Florida's Turnpike, and six miles from Collins Ave. Current zoning is UC Center - Mixed Use Corridor (MC) 6 MAX HT in Dade County, with the stated option to combine commercial and residential uses in a building up to six stories.
Key Highlights
- 3,516‑square‑foot building on a 7,575‑square‑foot lot
- UC Center - Mixed Use Corridor (MC) 6 MAX HT zoning in Dade County
- Renovation includes electrical, plumbing, mechanical, impact windows and doors, and two ADA‑compliant bathrooms
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
$83,066
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
6.39%
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%
$1,661,320
$1.7M
Cap Rate 7%
$1,186,657
$1.2M
Cap Rate 9%
$922,956
$923.0K
Market Conditions
NOI Build-Up for 3,516 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
$147.7K $42.00/SF
− Vacancy
−$14.8K −$4.20/SF
EGI
$132.9K $37.80/SF
− OpEx
−$49.8K −$14.18/SF
NOI
$83.1K $23.63/SF
Area
Miami, FL
Vacancy
10.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,661,320
Cap Rate 7%
$1,186,657
Cap Rate 9%
$922,956
Alternative Uses
Best Use
Mixed Use
$1.19M
$1.04M – $1.38M
NOI $83,066 @ 7.0% cap · market cap 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.37M
$2.08M – $2.77M
NOI $166,133 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,012
Businesses Nearby
Explore this area
Business Placement
Demographics for 33168, FL
24,715
Population
6,761
Households
3.7
Avg Household Size
39
Median Age
16%
College-Educated
79%
High-School Grad
3.6 sq mi
ZIP Area
6,865
Density / Sq Mi
$58,636
Median Household Income
$31,984
Median Earnings
$1,576
Median Rent
$329,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovation plans include upgraded systems, impact-resistant openings, ADA bathrooms, and a new commercial kitchen.
Where is this mixed-use property located?
The property is located at 1180 NW 119th St Miami, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 3,516‑square‑foot building on a 7,575‑square‑foot lot; UC Center - Mixed Use Corridor (MC) 6 MAX HT zoning in Dade County; Renovation includes electrical, plumbing, mechanical, impact windows and doors, and two ADA‑compliant bathrooms
