Miami Warehouse Near Tamiami
For Sale
$360,000
Pending
12119 SW 131st Ave, Miami, FL 33186
1,220 SF warehouse in desirable industrial area near airport.
Property Size1,220 SF
Days on Market269
Property Features for 12119 SW 131st Ave
General Information
Standard status
Pending
Size
1,220 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$4,250
Building Details
Building Size
1,220 SF
Year Built
1984
Listing Agency:
Hamilton Realty Inc
(305) 984-4324
Listed By:
Hector Aragon
(305) 984-4324
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 23
Last Checked: Aug 24 at 7:33AM
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 Hamilton Realty Inc
Investment Insights
Based on property information with market context.
This 1,220 square foot flex space warehouse is located in a desirable industrial area of Miami, offering convenient access to SR 826, US-41, and the Florida Turnpike. The property is situated minutes from Tamiami Airport. The unit features 18-foot ceilings and is suitable for various uses, including storage, distribution, light manufacturing, or service businesses. This property is ideal for owner occupants or as an investment. The space can be customized to meet specific needs, whether for expanding operations or launching a new venture.
Key Highlights
- Prime Location: Situated in a highly desirable Miami industrial area
- High Ceilings: Features 18' ceilings
- Versatile Flex Space: Suitable for storage, distribution, light manufacturing, or service businesses
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
$19,902
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
5.53%
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%
$398,040
$398.0K
Cap Rate 7%
$284,314
$284.3K
Cap Rate 9%
$221,133
$221.1K
Market Conditions
NOI Build-Up for 1,220 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
$24.6K $20.16/SF
− Vacancy
−$1.2K −$0.97/SF
EGI
$23.4K $19.19/SF
− OpEx
−$3.5K −$2.88/SF
NOI
$19.9K $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%
$398,040
Cap Rate 7%
$284,314
Cap Rate 9%
$221,133
Alternative Uses
Best Use
Warehouse
$284.3K
$248.8K – $331.7K
NOI $19,902 @ 7.0% cap · market cap 5.53%
Second Best
Flex RnD
$281.1K
$246.0K – $328.0K
NOI $19,679 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$666.2K
$582.9K – $777.3K
NOI $46,635 @ 7.0% cap · market cap 12.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,811
Businesses Nearby
Well-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
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Frequently Asked Questions
What type of property is this?
Warehouse - 1,220 SF warehouse in desirable industrial area near airport.
Where is this warehouse located?
The property is located at 12119 SW 131st Ave Miami, FL.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Prime Location: Situated in a highly desirable Miami industrial area; High Ceilings: Features 18' ceilings; Versatile Flex Space: Suitable for storage, distribution, light manufacturing, or service businesses
