Mixed-Use Building with Commercial
New
For Sale
$1,300,000
1180 NW 119th St, Miami, FL 33168
Commercial Sale, Miami, FL
Property Size3,516 SF
Lot Size0.17 Acres
Price / SF$369.74
Days on Market4
Property Features for 1180 NW 119th St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
6062
Parking
10
Directions
From the I-95 expressway, head west to NW 12th Ave, make a U-turn, and the subject property will be to your right.
Subdivision
21
Standard status
Active
APN
30-21-35-021-0060
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
35 52 41 N SILVER CREST MANORS PB 17-41 LOTS 19 TO 21 INC BLK 1 LOT SIZE 75.000 X 101 OR 20245-0785 0202 1 COC 22712-0939 09 2004 1
Legal Description
35 52 41 N SILVER CREST MANORS PB 17-41 LOTS 19 TO 21 INC BLK 1 LOT SIZE 75.000 X 101 OR 20245-0785 0202 1 COC 22712-0939 09 2004 1
Amenities
front-facing parking
asphalted parking/open storage area
six-foot steel fence
two ADA-compliant bathrooms
brand-new commercial kitchen with a new hood
Building Details
Year built
1951
Floors in Building
1
Flooring type
Concrete
Building materials
Block
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Javier Colon PA · License #3367073
(786) 271-5139
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 4 at 5:06PM
MLS# A12080621
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property includes a 3,516-square-foot block building on a 7,575-square-foot lot. A full renovation is underway with updated electrical, plumbing, and mechanical systems, impact-resistant windows and doors, two ADA-compliant bathrooms, and a new commercial kitchen with hood. Concrete flooring and front-facing parking are complemented by a paved parking and open-storage area extending along the side and rear, secured by a six-foot steel fence. The building can accommodate two tenants.
The property fronts NW 119th St (SR 924), where reported AADT is 47,000. It is 0.6 miles west of I-95, with access to I-75 and Florida's Turnpike, and is six miles from Collins Ave. Current zoning is UC Center - Mixed Use Corridor (MC) 6 MAX HT in Miami-Dade County, supporting a mixed commercial and residential development framework with buildings up to 6 stories tall.
The property fronts NW 119th St (SR 924), where reported AADT is 47,000. It is 0.6 miles west of I-95, with access to I-75 and Florida's Turnpike, and is six miles from Collins Ave. Current zoning is UC Center - Mixed Use Corridor (MC) 6 MAX HT in Miami-Dade County, supporting a mixed commercial and residential development framework with buildings up to 6 stories tall.
Key Highlights
- 3,516‑square‑foot building on a 7,575‑square‑foot lot
- Full renovation underway, including electrical, plumbing, and mechanical systems
- New commercial kitchen with hood 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
47,000 VPD
Traffic count
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 - Renovated commercial property with flexible interior capacity, secured open storage, and mixed-use corridor zoning.
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; Full renovation underway, including electrical, plumbing, and mechanical systems; New commercial kitchen with hood and two ADA‑compliant bathrooms
