Updated Flex Space Near
For Sale
$1,450,000
3337 NW 74th Ave 3337, Miami, FL 33122
Versatile industrial/warehouse flex space near Miami International Airport.
Property Size3,833 SF
Price / SF$337.21
Days on Market112
Property Features for 3337 NW 74th Ave 3337
General Information
Standard status
Active
Size
3,833 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$16,062
Building Details
Building Size
3,833 SF
Year Built
1986
Stories
2
Listing Agency:
Samour Realty
(305) 607-8841
Listed By:
Dexter Samour · License #3454121
(305) 607-8841
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 8 at 7:02AM
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 Samour Realty
Investment Insights
Based on property information with market context.
This versatile industrial/warehouse flex space offers approximately 4,300 sq ft of usable area. City records indicate 3,833 sq ft, plus a grandfathered second-floor mezzanine suitable for extra office space, storage, or light manufacturing. Constructed in 1986 and fully updated, the property combines warehouse features with modern amenities. Key features include dock-high loading with an automatic door for efficient truck access and three-phase electricity suitable for heavy machinery or high-power needs. The entire space is air-conditioned and includes an insulated room for specialized or controlled storage. A Twin T roof provides durability and energy efficiency. The property has an 18' ceiling height, ideal for racking or oversized equipment. Multiple offices (up to 6), separate bathrooms, and assigned parking are included. Located in a well-established industrial park near Miami International Airport, it is suited for distribution, e-commerce fulfillment, light manufacturing, service businesses, or showroom/warehouse hybrids. The grandfathered mezzanine adds space without permitting issues. The property is located in one of Miami's strategic industrial corridors, minutes from Miami International Airport, the Port of Miami, and major highways including the Palmetto Expressway/SR 836, I-95, Florida's Turnpike, and I-75.
Key Highlights
- Strategic Location: Minutes from Miami International Airport (MIA), Port of Miami, and major highways (Palmetto Expressway/SR 836, I‑95, Florida's Turnpike, I‑75).
- Versatile Space: Features ~4,300 sq ft usable area with a grandfathered second‑floor mezzanine.
- Dock‑High Loading: Equipped with an automatic door for efficient truck access.
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
$70,148
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
4.84%
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%
$1,402,960
$1.4M
Cap Rate 7%
$1,002,114
$1.0M
Cap Rate 9%
$779,422
$779.4K
Market Conditions
NOI Build-Up for 4,300 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
$86.7K $20.16/SF
− Vacancy
−$4.2K −$0.97/SF
EGI
$82.5K $19.19/SF
− OpEx
−$12.4K −$2.88/SF
NOI
$70.1K $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%
$1,402,960
Cap Rate 7%
$1,002,114
Cap Rate 9%
$779,422
Alternative Uses
Best Use
Warehouse
$1.00M
$876.9K – $1.17M
NOI $70,148 @ 7.0% cap · market cap 4.84%
Second Best
Flex RnD
$900.8K
$788.2K – $1.05M
NOI $63,055 @ 7.0% cap · market cap 4.35%
Theoretical Best
Specialty Retail
$2.90M
$2.54M – $3.39M
NOI $203,177 @ 7.0% cap · market cap 14.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,145
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33122, FL
2,126
Population
901
Households
2.4
Avg Household Size
35
Median Age
62%
College-Educated
85%
High-School Grad
2.4 sq mi
ZIP Area
886
Density / Sq Mi
$83,152
Median Household Income
$50,984
Median Earnings
$2,437
Median Rent
$1,284,700
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?
Flex space - Versatile industrial/warehouse flex space near Miami International Airport.
Where is this flex space located?
The property is located at 3337 NW 74th Ave 3337 Miami, FL.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Strategic Location: Minutes from Miami International Airport (MIA), Port of Miami, and major highways (Palmetto Expressway/SR 836, I‑95, Florida's Turnpike, I‑75).; Versatile Space: Features ~4,300 sq ft usable area with a grandfathered second‑floor mezzanine.; Dock‑High Loading: Equipped with an automatic door for efficient truck access.
