Office Flex Unit with Warehouse
For Sale
$299,000
13380 SW 131st St 119, Miami, FL 33186
Fully air-conditioned office unit with a private half bathroom, two assigned parking spaces, and an operational warehouse door.
Property Size1,187 SF
Price / SF$251.90
Days on Market31
Property Features for 13380 SW 131st St 119
General Information
Standard status
Active
Size
1,187 SF
Total Parking Spaces
2
Additional Details
Drive-In Doors
1
Building Details
Year Built
1990
Listing Agency:
Preztige Realty, LLC
(786) 547-8907
Listed By:
Victor Perez · License #A12048449
Source:
Mymiahomes
Added: Jul 21
Changed: Aug 17
Last Checked: Aug 19 at 10:21AM
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 Preztige Realty, LLC
Investment Insights
Based on property information with market context.
This permitted and converted office unit is offered as a practical office-flex space, featuring full air-conditioning and a private half bathroom. An operational warehouse door remains in place, providing flexibility for future conversion back to mini-warehouse or flex use, subject to association and governmental approval. The unit also includes two assigned parking spaces, along with guest parking, and water is included in the association fee. A new roof is scheduled for 2026.
The property is located at 13380 SW 131st St, unit 119, in Miami, Florida. Buyers should review association rules and verify permitted use, zoning, and any conversion options based on their intended use.
Before closing, the buyer should confirm the square footage and suitability for their goals, including whether the space can be converted back to a flex or mini-warehouse configuration under applicable approvals.
The property is located at 13380 SW 131st St, unit 119, in Miami, Florida. Buyers should review association rules and verify permitted use, zoning, and any conversion options based on their intended use.
Before closing, the buyer should confirm the square footage and suitability for their goals, including whether the space can be converted back to a flex or mini-warehouse configuration under applicable approvals.
Key Highlights
- 1,187 sq. ft. office unit permitted and converted from its prior use (per owner/plans).
- Fully air‑conditioned office space with a private half bathroom.
- Includes 2 assigned parking spaces plus plenty of guest parking.
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
$19,147
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
6.40%
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%
$382,940
$382.9K
Cap Rate 7%
$273,529
$273.5K
Cap Rate 9%
$212,744
$212.7K
Market Conditions
NOI Build-Up for 1,187 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
$31.3K $26.40/SF
− Vacancy
−$1.9K −$1.58/SF
EGI
$29.5K $24.82/SF
− OpEx
−$10.3K −$8.69/SF
NOI
$19.1K $16.13/SF
Area
ZIP 33186
Vacancy
6.00%
Lease Rate
$26.40 /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%
$382,940
Cap Rate 7%
$273,529
Cap Rate 9%
$212,744
Alternative Uses
Best Use
Office B
$540.9K
$473.3K – $631.1K
NOI $37,866 @ 7.0% cap · market cap 12.66%
Second Best
Flex RnD
$273.5K
$239.3K – $319.1K
NOI $19,147 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$648.2K
$567.2K – $756.2K
NOI $45,373 @ 7.0% cap · market cap 15.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
3,347
Businesses Nearby
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
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Fully air-conditioned office unit with a private half bathroom, two assigned parking spaces, and an operational warehouse door.
Where is this office units located?
The property is located at 13380 SW 131st St 119 Miami, FL.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,187 sq. ft. office unit permitted and converted from its prior use (per owner/plans).; Fully air‑conditioned office space with a private half bathroom.; Includes 2 assigned parking spaces plus plenty of guest parking.
