West Little River Warehouse
For Sale
Contact for pricing
1240 NW 74th St, Miami, FL 33147
30,000 SF warehouse in up-and-coming Little River neighborhood.
Property Size29,475 SF
Lot Size1.49 Acres
Price / SF$339.27
Days on Market866
Property Features for 1240 NW 74th St
General Information
Standard status
Active
Size
29,475 SF
Lot size
1.49 Acres
Property subtype
Industrial
Zoning
IU-1
Lease Type
Modified
Building Details
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
STL Commercial
(305) 972-7217
Listed By:
Max Loria · License #3455922
Source:
Crexi
Added: Mar 25, 2024
Changed: Aug 7
Last Checked: Aug 7 at 10:31AM
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 STL Commercial
Investment Insights
Based on property information with market context.
This is an opportunity to purchase a 30,000 square foot warehouse situated on a 65,000 square foot lot in West Little River. The warehouse features 18-foot ceilings with 14-foot clear heights and an expansive open layout. The property includes a large outdoor area with two loading ramps, one with dock height accessibility, and a third loading dock at the back. There are six roll-up doors. Numerous industrial fans are installed, and the main section of the warehouse and office space are air-conditioned. Parking is available at the front of the building. The building is fully sprinklered and is located in a Qualified Opportunity Zone. The property is currently occupied by a movie, TV, event, and advertisement prop business.
Key Highlights
- 30,000 sq ft warehouse on a 65,000 sq ft lot in up‑and‑coming West Little River.
- Located in a Qualified Opportunity Zone.
- Potential for leaseback from existing business netting approximately $1.1 million/year.
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
$480,840
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
4.81%
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%
$9,616,800
$9.6M
Cap Rate 7%
$6,869,143
$6.9M
Cap Rate 9%
$5,342,667
$5.3M
Market Conditions
NOI Build-Up for 29,475 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
$594.2K $20.16/SF
− Vacancy
−$28.5K −$0.97/SF
EGI
$565.7K $19.19/SF
− OpEx
−$84.9K −$2.88/SF
NOI
$480.8K $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%
$9,616,800
Cap Rate 7%
$6,869,143
Cap Rate 9%
$5,342,667
Alternative Uses
Best Use
Warehouse
$6.87M
$6.01M – $8.01M
NOI $480,840 @ 7.0% cap · market cap 4.81%
Second Best
Industrial
$5.66M
$4.95M – $6.60M
NOI $395,986 @ 7.0% cap · market cap 3.96%
Theoretical Best
Specialty Retail
$19.90M
$17.41M – $23.21M
NOI $1,392,707 @ 7.0% cap · market cap 13.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,009
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33147, FL
48,823
Population
16,220
Households
3
Avg Household Size
39
Median Age
15%
College-Educated
77%
High-School Grad
7.2 sq mi
ZIP Area
6,781
Density / Sq Mi
$47,728
Median Household Income
$33,385
Median Earnings
$1,359
Median Rent
$301,300
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.
Similar Off Market Nearby
- SP Outdoor Storage — 7016 NW 20th Ave, Miami, FL 33147
- EDM USA INC Warehouse — 7401 NW 13th Ave, Miami, FL 33147
- Yuya Xpress Corp — 1935 NW 74th St, Miami, FL 33147
- Offshore Boat & Jet-ski Storage — 810 NW 72nd St, Miami, FL 33150
- Jacob Fleishman & Sons — 1177 NW 81st St., Miami, FL 33150
Frequently Asked Questions
What type of property is this?
Warehouse - 30,000 SF warehouse in up-and-coming Little River neighborhood.
Where is this warehouse located?
The property is located at 1240 NW 74th St Miami, FL.
What is the asking price?
The asking price for this property is $10,000,000.
What are key features of this property?
This property features: 30,000 sq ft warehouse on a 65,000 sq ft lot in up‑and‑coming West Little River.; Located in a Qualified Opportunity Zone.; Potential for leaseback from existing business netting approximately $1.1 million/year.
