Multi-Tenant Industrial Property For
For Sale
Contact for pricing
10401-10409 SW 186th St, Cutler Bay, FL
17,734 SF industrial property with flexible layout and month-to-month leases.
Property Size17,734 SF
Lot Size0.44 Acres
Price / SF$228.37
Days on Market629
Property Features for 10401-10409 SW 186th St
General Information
Standard status
Active
Size
17,734 SF
Lot size
0.44 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Kaizen Realty Partners, LLC
(305) 500-5554
Listed By:
Dante Aleman · License #A12077313
(305) 500-5554
Source:
Moodyscre
Added: Dec 10, 2024
Changed: Aug 8
Last Checked: Aug 29 at 6:02AM
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 Kaizen Realty Partners, LLC
Investment Insights
Based on property information with market context.
This is a 17,734 square foot multi-tenant industrial property constructed in 1983 and zoned for industrial use. The building features a flexible layout with ceiling heights ranging from 16 to 20 feet. The exterior consists of painted concrete block, stucco, and brick walls, complemented by a roof with a built-up cover over concrete tees and a barrel tile mansard. The property includes street-level loading facilitated by four overhead rolling doors. A central air-conditioning system serves the restaurant and office area. There are 19 paved parking spaces available. Lighting is provided by a combination of fluorescent and recessed lights. The property is well-maintained, featuring an asphalt-paved parking and loading area. Additional features include a billboard and high traffic count. The property is divided into five units, all currently occupied under month-to-month leases.
Key Highlights
- Pro‑Forma CAP Rate of 7.98%
- 17,734 SF multi‑tenant industrial property
- 100% month‑to‑month occupancy
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
$232,476
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
5.74%
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%
$4,649,520
$4.6M
Cap Rate 7%
$3,321,086
$3.3M
Cap Rate 9%
$2,583,067
$2.6M
Market Conditions
NOI Build-Up for 17,734 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
$289.4K $16.32/SF
− Vacancy
−$15.9K −$0.90/SF
EGI
$273.5K $15.42/SF
− OpEx
−$41.0K −$2.31/SF
NOI
$232.5K $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%
$4,649,520
Cap Rate 7%
$3,321,086
Cap Rate 9%
$2,583,067
Alternative Uses
Best Use
Flex RnD
$5.57M
$4.88M – $6.50M
NOI $390,077 @ 7.0% cap · market cap 9.63%
Second Best
Warehouse
$3.32M
$2.91M – $3.87M
NOI $232,476 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$9.00M
$7.87M – $10.50M
NOI $629,804 @ 7.0% cap · market cap 15.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,733
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Mangu-Mangu Catering & Takeout — 19100 SW 106th Ave #23, Cutler Bay, FL 33157
- Delicious Catering Services — 10871 SW 188th St, Miami, FL 33157
- MyFloridaTag — 18655 S Dixie Hwy, Cutler Bay, FL 33157
- Ricardo Catering and Services — 10455 SW 185th Terrace, Miami, FL 33157
- cater fide nokal haend festafeed — 10360 SW 186th St, Miami, FL 33197
Frequently Asked Questions
What type of property is this?
Flex space - 17,734 SF industrial property with flexible layout and month-to-month leases.
Where is this flex space located?
The property is located at 10401-10409 SW 186th St Cutler Bay, FL.
What is the asking price?
The asking price for this property is $4,050,000.
What are key features of this property?
This property features: Pro‑Forma CAP Rate of 7.98%; 17,734 SF multi‑tenant industrial property; 100% month‑to‑month occupancy
