Spacious Insulated Steel
For Sale
$5,900,000
29055 SW 107th Ave, Homestead, FL 33033
35,796 sqft insulated steel building on 5 acres for sale.
Property Size35,796 SF
Lot Size5.03 Acres
Price / SF$164.82
Days on Market157
Property Features for 29055 SW 107th Ave
General Information
Standard status
Active
Size
35,796 SF
Lot size
5.03 Acres
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$40,044
Building Details
Building Size
35,796 SF
Listing Agency:
United Realty Group
(305) 244-2398
Listed By:
Shevaun Gandy · License #3097141
(305) 244-2398
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 6:23AM
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 United Realty Group
Investment Insights
Based on property information with market context.
This property features a 35,796 sqft insulated steel building constructed in 2015, situated on a 5-acre lot with 4 acres of usable space. The building includes 26 ft high ceilings, a secure fenced lot, and ample parking. It is equipped with an 800-amp 480/277 v three-phase electrical system and two 400-amp 120/240v three-phase systems. The property has two dock-height doors and three drive-up doors. Additional white hurricane impact tents provide an estimated 6000-7000 sqft of usable space, currently rented on a month-to-month basis. The property is located near the Turnpike, Homestead Air Base, and major distribution centers, offering logistical advantages. It also features ample outdoor storage and a security system with lights. The building is suitable for both investors and owner-users and can be divided. The property is also available for lease.
Key Highlights
- Large 35,796 sqft insulated steel building on 5 acres (4 useable)
- Prime location near Turnpike, Homestead Air Base, and major distribution centers
- High ceilings (26 ft)
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
$469,251
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
7.95%
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%
$9,385,020
$9.4M
Cap Rate 7%
$6,703,586
$6.7M
Cap Rate 9%
$5,213,900
$5.2M
Market Conditions
NOI Build-Up for 35,796 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
$584.2K $16.32/SF
− Vacancy
−$32.1K −$0.90/SF
EGI
$552.1K $15.42/SF
− OpEx
−$82.8K −$2.31/SF
NOI
$469.3K $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%
$9,385,020
Cap Rate 7%
$6,703,586
Cap Rate 9%
$5,213,900
Alternative Uses
Best Use
Warehouse
$6.70M
$5.87M – $7.82M
NOI $469,251 @ 7.0% cap · market cap 7.95%
Second Best
Industrial
$5.52M
$4.83M – $6.44M
NOI $386,442 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$18.16M
$15.89M – $21.19M
NOI $1,271,257 @ 7.0% cap · market cap 21.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Explore this area
Business Placement
Demographics for 33033, FL
66,871
Population
21,426
Households
3.1
Avg Household Size
34
Median Age
23%
College-Educated
79%
High-School Grad
22.3 sq mi
ZIP Area
2,999
Density / Sq Mi
$66,662
Median Household Income
$37,018
Median Earnings
$1,648
Median Rent
$364,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Warehouse - 35,796 sqft insulated steel building on 5 acres for sale.
Where is this warehouse located?
The property is located at 29055 SW 107th Ave Homestead, FL.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: Large 35,796 sqft insulated steel building on 5 acres (4 useable); Prime location near Turnpike, Homestead Air Base, and major distribution centers; High ceilings (26 ft)
