Warehouse Office
For Sale
$295,000
Pending
10674 SW 186th St Unit 33, Cutler Bay, FL 33157
Industrial unit built in 1980 with fully upgraded interiors and a second-floor office and storage area.
Property Size1,875 SF
Days on Market2012
Property Features for 10674 SW 186th St Unit 33
General Information
Standard status
Pending
Size
1,875 SF
Property subtype
General Commercial
Additional Details
Highway Access
Yes
Amenities
small kitchen
new bathrooms
offices
extra storage
3
Building Details
Year Built
1980
Tenancy
Multi
Listing Agency:
(786) 255-1970
Listed By:
The Keyes Company
(786) 255-1970
Source:
Xome
Added: Feb 1, 2021
Changed: Jul 28
Last Checked: Jul 28 at 4:21AM
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 The Keyes Company
Investment Insights
Based on property information with market context.
This warehouse office unit is located within a 37-unit industrial commercial building constructed in 1980. The interior has been fully upgraded and includes a small kitchen, new tile finishes, new bathrooms, and a substantial second-floor area. The second floor features two additional offices and extra storage on the other side.
The building is positioned with easy access to major roads and highways, near US1 and the Turnpike Highway.
The property also benefits from a low-maintenance building structure with a maintenance fee that covers insurance, water, and parking.
The building is positioned with easy access to major roads and highways, near US1 and the Turnpike Highway.
The property also benefits from a low-maintenance building structure with a maintenance fee that covers insurance, water, and parking.
Key Highlights
- Industrial unit with 1,875 SF and construction built in 1980
- Situated in an industrial commercial building with 37 units
- Unit interiors are fully upgraded with a small kitchen, new tiles, and new bathrooms
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
$24,579
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
8.33%
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%
$491,580
$491.6K
Cap Rate 7%
$351,129
$351.1K
Cap Rate 9%
$273,100
$273.1K
Market Conditions
NOI Build-Up for 1,875 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
$30.6K $16.32/SF
− Vacancy
−$1.7K −$0.90/SF
EGI
$28.9K $15.42/SF
− OpEx
−$4.3K −$2.31/SF
NOI
$24.6K $13.11/SF
Area
ZIP 33157
Vacancy
5.50%
Lease Rate
$16.32 /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%
$491,580
Cap Rate 7%
$351,129
Cap Rate 9%
$273,100
Alternative Uses
Best Use
Office B
$721.2K
$631.0K – $841.4K
NOI $50,482 @ 7.0% cap · market cap 17.11%
Second Best
Warehouse
$351.1K
$307.2K – $409.7K
NOI $24,579 @ 7.0% cap · market cap 8.33%
Theoretical Best
Office A
$951.3K
$832.4K – $1.11M
NOI $66,589 @ 7.0% cap · market cap 22.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,273
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33157, FL
68,069
Population
23,176
Households
2.9
Avg Household Size
42
Median Age
33%
College-Educated
86%
High-School Grad
14.9 sq mi
ZIP Area
4,568
Density / Sq Mi
$80,364
Median Household Income
$38,803
Median Earnings
$1,493
Median Rent
$478,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial unit built in 1980 with fully upgraded interiors and a second-floor office and storage area.
Where is this warehouse located?
The property is located at 10674 SW 186th St Unit 33 Cutler Bay, FL.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Industrial unit with 1,875 SF and construction built in 1980; Situated in an industrial commercial building with 37 units; Unit interiors are fully upgraded with a small kitchen, new tiles, and new bathrooms
