End-Cap Warehouse Condo with Drive-In
For Sale
Contact for pricing
11951 SW 144th Ct, Miami, FL 33186
First-floor warehouse plus mezzanine space with one oversized drive-in door and 20-foot clear ceiling height.
Property Size1,978 SF
Price / SF$343.28
Days on Market401
Property Features for 11951 SW 144th Ct
General Information
Standard status
Active
Size
1,978 SF
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
20 ft
Warehouse Space
1,978 SF
Mezzanine
449 SF
Drive-In Doors
1
Additional Details
Highway Access
Yes
Listing Agency:
Lee & Associates | Miami
(305) 490-6526
Listed By:
Matthew Rotolante · License #3088290
(305) 490-6526
Source:
Moodyscre
Added: Jul 3, 2025
Changed: Jul 29
Last Checked: Aug 7 at 6:06AM
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 Lee & Associates | Miami
Investment Insights
Based on property information with market context.
This end-cap warehouse condo offers 1,978 SF of space configured with 1,529 SF on the first floor plus a 449 SF mezzanine. The unit includes one oversized drive-in door and 20-foot clear ceiling height to support a wide range of warehouse and light distribution needs.
The property is positioned for convenient regional access near SR-874 and Florida's Turnpike, with proximity to Tamiami Airport. Seller financing is available, which may offer added flexibility for qualified buyers.
Overall, it is a compact warehouse configuration with both ground-level and mezzanine areas, designed to make loading and storage practical within the building’s clear-height envelope.
The property is positioned for convenient regional access near SR-874 and Florida's Turnpike, with proximity to Tamiami Airport. Seller financing is available, which may offer added flexibility for qualified buyers.
Overall, it is a compact warehouse configuration with both ground-level and mezzanine areas, designed to make loading and storage practical within the building’s clear-height envelope.
Key Highlights
- 1,978 SF end‑cap warehouse condo with first‑floor and mezzanine space
- 1,529 SF on the first floor
- 449 SF mezzanine
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
$32,268
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
4.75%
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%
$645,360
$645.4K
Cap Rate 7%
$460,971
$461.0K
Cap Rate 9%
$358,533
$358.5K
Market Conditions
NOI Build-Up for 1,978 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
$39.9K $20.16/SF
− Vacancy
−$1.9K −$0.97/SF
EGI
$38.0K $19.19/SF
− OpEx
−$5.7K −$2.88/SF
NOI
$32.3K $16.31/SF
Area
ZIP 33186
Vacancy
4.80%
Lease Rate
$20.16 /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%
$645,360
Cap Rate 7%
$460,971
Cap Rate 9%
$358,533
Alternative Uses
Best Use
Warehouse
$461.0K
$403.4K – $537.8K
NOI $32,268 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.08M
$945.1K – $1.26M
NOI $75,610 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,223
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33186, FL
69,866
Population
24,397
Households
2.9
Avg Household Size
42
Median Age
36%
College-Educated
91%
High-School Grad
12.4 sq mi
ZIP Area
5,634
Density / Sq Mi
$86,481
Median Household Income
$46,755
Median Earnings
$2,021
Median Rent
$422,300
Median Home Value
Market
Vacancy Rate% for Industrial in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Public Storage — 12625 SW 137th Ave, Miami, FL 33186
Frequently Asked Questions
What type of property is this?
Warehouse - First-floor warehouse plus mezzanine space with one oversized drive-in door and 20-foot clear ceiling height.
Where is this warehouse located?
The property is located at 11951 SW 144th Ct Miami, FL.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: 1,978 SF end‑cap warehouse condo with first‑floor and mezzanine space; 1,529 SF on the first floor; 449 SF mezzanine
