Warehouse Unit with Front and Rear
For Sale
$720,000
Pending
12470 SW 128th St, Miami, FL 33186
Warehouse unit with front and rear access, ample parking, and recent exterior and interior upgrades.
Property Size2,310 SF
Days on Market59
Property Features for 12470 SW 128th St
General Information
Standard status
Pending
Size
2,310 SF
Property subtype
Flex Space
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,640
Building Details
Building Size
2,310 SF
Year Built
1992
Listing Agency:
Lifestyle International Realty
Listed By:
Ricardo Boada · License #3282240
(305) 773-5574
Source:
Miamibrokersgroup
Added: Jul 21
Changed: Sep 16
Last Checked: Sep 15 at 8:32AM
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 Lifestyle International Realty
Investment Insights
Based on property information with market context.
This offering includes a 2,310 SF warehouse unit with both front and rear access, ample parking, and recent improvements including a new roof, new A/C, and fresh paint. An adjacent unit is also available for sale, creating the option to acquire both spaces together for a larger footprint.
The property is located directly on SW 128th Street in an established Tamiami warehouse district, with convenient access to a nearby highway extension.
The unit is currently occupied by a long-running business that has operated at the location for nearly 25 years. The adjoining unit and the business may also be purchased separately.
The property is located directly on SW 128th Street in an established Tamiami warehouse district, with convenient access to a nearby highway extension.
The unit is currently occupied by a long-running business that has operated at the location for nearly 25 years. The adjoining unit and the business may also be purchased separately.
Key Highlights
- 2,310 SF warehouse unit built in 1992 in the Tamiami warehouse district
- Front and rear access plus ample parking
- Recent upgrades include a new roof, new A/C, and fresh paint
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
$37,684
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
5.23%
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%
$753,680
$753.7K
Cap Rate 7%
$538,343
$538.3K
Cap Rate 9%
$418,711
$418.7K
Market Conditions
NOI Build-Up for 2,310 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
$46.6K $20.16/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$44.3K $19.19/SF
− OpEx
−$6.7K −$2.88/SF
NOI
$37.7K $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%
$753,680
Cap Rate 7%
$538,343
Cap Rate 9%
$418,711
Alternative Uses
Best Use
Warehouse
$538.3K
$471.1K – $628.1K
NOI $37,684 @ 7.0% cap · market cap 5.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,300 @ 7.0% cap · market cap 12.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,609
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Miami, FL
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse unit with front and rear access, ample parking, and recent exterior and interior upgrades.
Where is this warehouse located?
The property is located at 12470 SW 128th St Miami, FL.
What is the asking price?
The asking price for this property is $720,000.
What are key features of this property?
This property features: 2,310 SF warehouse unit built in 1992 in the Tamiami warehouse district; Front and rear access plus ample parking; Recent upgrades include a new roof, new A/C, and fresh paint
