Two-Story Flex-Space Industrial
For Sale
$780,000
16115 SW 117th Ave A13, Miami, FL 33177
2,050 SF flex-space condo in South Dade Business Centre.
Property Size2,050 SF
Price / SF$380.49
Days on Market104
Property Features for 16115 SW 117th Ave A13
General Information
Standard status
Active
Size
2,050 SF
Building Details
Year Built
1989
Listing Agency:
The Canero Group
(305) 588-1826
Listed By:
Maria Bolanos · License #3278607
Source:
Mymiahomes
Added: May 19
Changed: Aug 23
Last Checked: Aug 29 at 11:44AM
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 The Canero Group
Investment Insights
Based on property information with market context.
This 2,050 SF two-story flex-space industrial condominium is located within the South Dade Business Centre. Constructed in 1989, this "Class B" CBS building features a layout suitable for office, warehouse, or light industrial use. The interior includes professional office finishes, a remodeled modern bathroom, and polished concrete floors in the warehouse area. Logistics are facilitated by one 10'x12' rear-loading street-level door and a high clear ceiling height between 16' and 18'. The property is zoned I-UC (Industrial District Conditional, Miami-Dade County) and is independently metered for electricity, water, and sewer. The monthly association fee of $330.00 covers exterior maintenance, building insurance, management, and capital reserves. Parking is available on a first-come, first-served basis, with guest parking also provided. Association approval is required.
Key Highlights
- 2,050 SF flex‑space industrial condominium in the desirable South Dade Business Centre.
- Functional layout suitable for office, warehouse, or light industrial use with professional office finishes.
- High clear ceiling height (16'-18')** and one 10'x12' rear‑loading street‑level door for efficient logistics.
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
$24,049
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
3.08%
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%
$480,980
$481.0K
Cap Rate 7%
$343,557
$343.6K
Cap Rate 9%
$267,211
$267.2K
Market Conditions
NOI Build-Up for 2,050 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
$39.4K $19.20/SF
− Vacancy
−$2.4K −$1.15/SF
EGI
$37.0K $18.05/SF
− OpEx
−$12.9K −$6.32/SF
NOI
$24.0K $11.73/SF
Area
ZIP 33177
Vacancy
6.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
35.00%
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%
$480,980
Cap Rate 7%
$343,557
Cap Rate 9%
$267,211
Alternative Uses
Best Use
Flex RnD
$343.6K
$300.6K – $400.8K
NOI $24,049 @ 7.0% cap · market cap 3.08%
Second Best
Industrial
$316.2K
$276.6K – $368.9K
NOI $22,131 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$1.04M
$910.1K – $1.21M
NOI $72,804 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
530
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33177, FL
56,331
Population
17,124
Households
3.3
Avg Household Size
41
Median Age
23%
College-Educated
84%
High-School Grad
12.6 sq mi
ZIP Area
4,471
Density / Sq Mi
$77,297
Median Household Income
$36,347
Median Earnings
$2,080
Median Rent
$399,000
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 - 2,050 SF flex-space condo in South Dade Business Centre.
Where is this flex space located?
The property is located at 16115 SW 117th Ave A13 Miami, FL.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: 2,050 SF flex‑space industrial condominium in the desirable South Dade Business Centre.; Functional layout suitable for office, warehouse, or light industrial use with professional office finishes.; High clear ceiling height (16'-18')** and one 10'x12' rear‑loading street‑level door for efficient logistics.
