Distribution Center in North Miami
For Sale
$1,799,999
67 NW 166th St, Miami, FL 33169
Free-standing distribution center with development potential in a prime location.
Property Size3,145 SF
Lot Size0.15 Acres
Price / SF$572.34
Days on Market157
Property Features for 67 NW 166th St
General Information
Standard status
Active
Size
3,145 SF
Lot size
0.15 Acres
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$5,395
Building Details
Building Size
3,145 SF
Year Built
1973
Listing Agency:
United Realty Group
(305) 244-2398
Listed By:
Shevaun Gandy · License #3097141
(305) 244-2398
Source:
Elliman
Added: Mar 11
Changed: Aug 13
Last Checked: Aug 13 at 9:52AM
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 free-standing distribution center is located in North Miami Beach's industrial/retail corridor, offering convenient access to the Golden Glades Interchange. The property features a 6750 square foot lot, providing ample space for fleet and delivery vehicles. The 3145 square foot building is suitable for distribution and storage, boasting 18-foot ceilings and an 800 square foot mezzanine. It includes 2 AC units, 2 bathrooms, updated electrical systems, a newer exterior fence, and 11 private parking spaces. The property is maintained to a high standard and presents a low-maintenance asset, making it attractive to investors. It is suitable for an owner/user, investment purposes, or as a corporate headquarters. The property can be used as a single-tenant or multi-tenant space by adding a dividing wall. Furthermore, the property has the potential to develop up to a 5-story office building.
Key Highlights
- Free‑standing distribution center in North Miami Beach with easy access to Golden Glades Interchange.
- Development potential for up to 5‑story office building.
- 3,145 sqft distribution space with 18 ft ceilings and 800 sqft 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
$51,306
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
2.85%
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%
$1,026,120
$1.0M
Cap Rate 7%
$732,943
$732.9K
Cap Rate 9%
$570,067
$570.1K
Market Conditions
NOI Build-Up for 3,145 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
$63.4K $20.16/SF
− Vacancy
−$3.0K −$0.97/SF
EGI
$60.4K $19.19/SF
− OpEx
−$9.1K −$2.88/SF
NOI
$51.3K $16.31/SF
Area
Miami, FL
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%
$1,026,120
Cap Rate 7%
$732,943
Cap Rate 9%
$570,067
Alternative Uses
Best Use
Warehouse
$732.9K
$641.3K – $855.1K
NOI $51,306 @ 7.0% cap · market cap 2.85%
Second Best
Industrial
$603.6K
$528.2K – $704.2K
NOI $42,252 @ 7.0% cap · market cap 2.35%
Theoretical Best
Specialty Retail
$2.12M
$1.86M – $2.48M
NOI $148,603 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,868
Businesses Nearby
Explore this area
Business Placement
Demographics for 33169, FL
42,308
Population
14,815
Households
2.9
Avg Household Size
37
Median Age
22%
College-Educated
85%
High-School Grad
6.8 sq mi
ZIP Area
6,222
Density / Sq Mi
$59,686
Median Household Income
$34,327
Median Earnings
$1,536
Median Rent
$352,800
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?
Distribution center - Free-standing distribution center with development potential in a prime location.
Where is this distribution center located?
The property is located at 67 NW 166th St Miami, FL.
What is the asking price?
The asking price for this property is $1,799,999.
What are key features of this property?
This property features: Free‑standing distribution center in North Miami Beach with easy access to Golden Glades Interchange.; Development potential for up to 5‑story office building.; 3,145 sqft distribution space with 18 ft ceilings and 800 sqft mezzanine.**
