Building Details

Year Built 2005

Listing Agency: BHHS EWM REALTY

Listed By: JOSE ISAZA · License #A12085416 Show Phone

Source: Corcoran

Added: Sep 8 Changed: Oct 25 Last Checked: Oct 24 at 5:03PM

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Investment Insights

Based on property information with market context.

This 1,059 SF flex condominium was built in 2005 and combines dedicated office space with a warehouse area. The unit offers approximately 18-20' of clear ceiling height and a grade-level roll-up door, supporting practical industrial operations, storage, distribution, showroom, office, and light manufacturing uses permitted under IU-C zoning.

The property is located at 12100 SW 132nd Ct #108-A in Miami, within the Tamiami Pineland Commercial Center. Access to the Florida Turnpike and SR-874, also known as the Don Shula Expressway, connects the property with surrounding Miami-Dade industrial areas. Miami Executive Airport is also nearby.

Key Highlights

• 1,059 SF office/warehouse condominium
• Built in 2005
• Approximately 18‑20' clear ceiling height

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,276

Cap Rate

4.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$345,520 $345.5K

Cap Rate 7%

$246,800 $246.8K

Cap Rate 9%

$191,956 $192.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,059 SF

Gross rent

$21.3K $20.16/SF

− Vacancy

−$1.0K −$0.97/SF

EGI

$20.3K $19.19/SF

− OpEx

−$3.0K −$2.88/SF

NOI

$17.3K $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 Rate 5%

$345,520

Cap Rate 7%

$246,800

Cap Rate 9%

$191,956

Alternative Uses

Best Use

Warehouse

$246.8K

$216.0K – $287.9K (±1% cap)

NOI $17,276 @ 7.0% cap · market cap 4.87%

Second Best

Flex RnD

$244.0K

$213.5K – $284.7K (±1% cap)

NOI $17,082 @ 7.0% cap · market cap 4.81%

Theoretical Best

Office A

$578.3K

$506.0K – $674.7K (±1% cap)

NOI $40,481 @ 7.0% cap · market cap 11.40%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

BET-EL CHURCH MIAMI Church Lux Lunae Apothecary Home Decor Store Linking University Restaurant Magic Flower Designs Florist buzz media agency Film Production

Suggested Use

Top Pick Parking Lot & Garage Grocery & Convenience Store Hotel & Motel Bar & Pub (Bike/Boat/Book/etc) Store Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

20 ft

Clear height

1

Drive-in doors

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

3,641

Businesses Nearby

Balanced

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

4.1% 2019

4.6% 2020

2.2% 2021

1.6% 2022

2.4% 2023

5.7% 2024

6.5% 2025

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Flex space - Industrial condominium combines office and warehouse areas with a roll-up loading door.

Where is this flex space located?

The property is located at 12100 SW 132nd Ct #108-A Miami, FL.

What is the asking price?

The asking price for this property is $355,000.

What are key features of this property?

This property features: 1,059 SF office/warehouse condominium; Built in 2005; Approximately 18‑20' clear ceiling height