Warehouse Property for
For Sale
$1,185,000
Pending
748 NW 24th St, Miami, FL 33127
For-sale warehouse property in Miami-Dade County, suited for businesses needing straightforward industrial space.
Property Size2,275 SF
Days on Market497
Property Features for 748 NW 24th St
General Information
Standard status
Pending
Size
2,275 SF
Zoning
7000
Taxes and HOA fees
Annual Taxes
$13,462
Amenities
Detached
Building Details
Building Size
2,275 SF
Year Built
1956
Listed By:
Maria Lazbal
(954) 990-3150
Source:
Evrealestate
Added: May 5, 2025
Changed: Sep 11
Last Checked: Sep 12 at 4:20AM
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 Maria Lazbal
Investment Insights
Based on property information with market context.
This for-sale warehouse property is offered as an industrial asset within the warehouse and other warehouse category. The available information does not specify unit breakdown, clear height, bay configuration, or other improvements, so prospective buyers should plan to review the property details during due diligence.
The property is located at 748 NW 24th St in Miami, Florida, within Miami-Dade County. No additional information is provided regarding frontage, access details, or nearby commercial anchors, so site-specific investigation will be important for confirming operational fit.
For tenants and buyers evaluating industrial space, the primary takeaway is that the asset is positioned as a warehouse-type property for users seeking a straightforward industrial setting. Because the dataset does not include specifics on currently existing uses, layout details, or lease status, underwriting should focus on verifying the condition, utility and infrastructure particulars, and any restrictions that could impact intended operations. Brokers and buyers are encouraged to request the full property package to confirm what will be included with the sale and how the space can support a user’s business needs.
The property is located at 748 NW 24th St in Miami, Florida, within Miami-Dade County. No additional information is provided regarding frontage, access details, or nearby commercial anchors, so site-specific investigation will be important for confirming operational fit.
For tenants and buyers evaluating industrial space, the primary takeaway is that the asset is positioned as a warehouse-type property for users seeking a straightforward industrial setting. Because the dataset does not include specifics on currently existing uses, layout details, or lease status, underwriting should focus on verifying the condition, utility and infrastructure particulars, and any restrictions that could impact intended operations. Brokers and buyers are encouraged to request the full property package to confirm what will be included with the sale and how the space can support a user’s business needs.
Key Highlights
- Warehouse property in Miami‑Dade County (CountyOrParish: Miami‑Dade)
- Detached warehouse building built in 1956
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
$37,113
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
3.13%
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%
$742,260
$742.3K
Cap Rate 7%
$530,186
$530.2K
Cap Rate 9%
$412,367
$412.4K
Market Conditions
NOI Build-Up for 2,275 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
$45.9K $20.16/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$43.7K $19.19/SF
− OpEx
−$6.5K −$2.88/SF
NOI
$37.1K $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%
$742,260
Cap Rate 7%
$530,186
Cap Rate 9%
$412,367
Alternative Uses
Best Use
Warehouse
$530.2K
$463.9K – $618.6K
NOI $37,113 @ 7.0% cap · market cap 3.13%
Second Best
Industrial
$436.6K
$382.1K – $509.4K
NOI $30,564 @ 7.0% cap · market cap 2.58%
Theoretical Best
Specialty Retail
$1.54M
$1.34M – $1.79M
NOI $107,495 @ 7.0% cap · market cap 9.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,080
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
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 - For-sale warehouse property in Miami-Dade County, suited for businesses needing straightforward industrial space.
Where is this warehouse located?
The property is located at 748 NW 24th St Miami, FL.
What is the asking price?
The asking price for this property is $1,185,000.
What are key features of this property?
This property features: Warehouse property in Miami‑Dade County (CountyOrParish: Miami‑Dade); Detached warehouse building built in 1956
