Industrial Office/Warehouse
For Sale
$4,700,000
12601 NW 115th Ave, Medley, FL 33178
COMMERCIAL - Medley, FL
Property Size11,418 SF
Lot Size0.26 Acres
Price / SF$411.63
Days on Market67
Property Features for 12601 NW 115th Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
14
Subdivision
20
Standard status
Active
APN
22-20-30-026-0140
Lot size
0.26 Acres
Taxes and HOA fees
Tax Description
FIRST INDUSTRIAL COMMERCE CENTER CONDO UNIT A-114 UNDIV 9.23% INT IN COMMON ELEMENTS OFF REC 26149-2851
HOA Fee
$5,557 Quarterly
Legal Description
FIRST INDUSTRIAL COMMERCE CENTER CONDO UNIT A-114 UNDIV 9.23% INT IN COMMON ELEMENTS OFF REC 26149-2851
Amenities
conference room
reception area
kitchenette
emergency lighting
exterior signage availability
secure gated access
Building Details
Year built
2007
Floors in Building
2
Building materials
Block
Roof type
Concrete, Metal
Listing Agency:
Trajan Commercial Real Estate
(786) 432-0551
Listed By:
Claudia Splinter · License #3285524
(305) 482-1118
Added: Jun 8
Changed: Aug 4
Last Checked: Aug 13 at 3:06AM
MLS# A12018638
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This industrial office/warehouse condominium unit, built in 2007, is designed with both warehouse functionality and a dedicated office/showroom environment. The layout includes approximately seven offices, a conference room, reception area, showroom, kitchenette, mezzanine, and three restrooms. The warehouse provides 20'-22' clear ceiling heights, with rear-loaded access supported by a concrete rear ramp and one dock-high loading door. For truck operations, the property includes a gated truck court and interior truck circulation.
The unit is secured with gated access and features hurricane impact-resistant glass. Construction is reinforced concrete tilt-wall, with emergency lighting and three-phase heavy power (200 Amps | 120/480 Volts | 4-wire service). The condominium provides 14 assigned parking spaces plus additional visitor parking, and exterior signage availability is noted.
Zoned M-1 Light Manufacturing Industrial/Commercial District, the unit is presented as suitable for a range of uses including logistics, warehousing, distribution, import/export, light manufacturing, and showroom/office operations. The location provides immediate access to Florida's Turnpike and proximity to SR-826, Okeechobee Road, and I-75 for regional connectivity.
The unit is secured with gated access and features hurricane impact-resistant glass. Construction is reinforced concrete tilt-wall, with emergency lighting and three-phase heavy power (200 Amps | 120/480 Volts | 4-wire service). The condominium provides 14 assigned parking spaces plus additional visitor parking, and exterior signage availability is noted.
Zoned M-1 Light Manufacturing Industrial/Commercial District, the unit is presented as suitable for a range of uses including logistics, warehousing, distribution, import/export, light manufacturing, and showroom/office operations. The location provides immediate access to Florida's Turnpike and proximity to SR-826, Okeechobee Road, and I-75 for regional connectivity.
Key Highlights
- Built in 2007 reinforced concrete tilt‑wall industrial office/warehouse condominium
- Warehouse with 20'-22' clear ceiling heights plus 1 dock‑high loading door and 1 concrete rear ramp
- Rear‑loaded access with gated truck court and truck circulation
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
$251,150
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
5.34%
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%
$5,023,000
$5.0M
Cap Rate 7%
$3,587,857
$3.6M
Cap Rate 9%
$2,790,556
$2.8M
Market Conditions
NOI Build-Up for 11,418 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
$411.0K $36.00/SF
− Vacancy
−$24.7K −$2.16/SF
EGI
$386.4K $33.84/SF
− OpEx
−$135.2K −$11.84/SF
NOI
$251.2K $22.00/SF
Area
ZIP 33178
Vacancy
6.00%
Lease Rate
$36.00 /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%
$5,023,000
Cap Rate 7%
$3,587,857
Cap Rate 9%
$2,790,556
Alternative Uses
Best Use
Flex RnD
$3.59M
$3.14M – $4.19M
NOI $251,150 @ 7.0% cap · market cap 5.34%
Second Best
Office B
$3.55M
$3.10M – $4.14M
NOI $248,273 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$5.79M
$5.07M – $6.76M
NOI $405,498 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22 ft
Clear height
1
Dock-high doors
1
Office units
Yes
Heavy power
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
769
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33178, FL
65,487
Population
21,931
Households
3
Avg Household Size
37
Median Age
55%
College-Educated
86%
High-School Grad
61.1 sq mi
ZIP Area
1,072
Density / Sq Mi
$91,338
Median Household Income
$41,710
Median Earnings
$2,609
Median Rent
$499,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - M-1 light manufacturing condo with warehouse clear heights, dock-high loading, and an office/showroom buildout with assigned parking.
Where is this flex space located?
The property is located at 12601 NW 115th Ave Medley, FL.
What is the asking price?
The asking price for this property is $4,700,000.
What are key features of this property?
This property features: Built in 2007 reinforced concrete tilt‑wall industrial office/warehouse condominium; Warehouse with 20'-22' clear ceiling heights plus 1 dock‑high loading door and 1 concrete rear ramp; Rear‑loaded access with gated truck court and truck circulation
