Light Industrial Warehouse
For Sale
Contact for pricing
2059 NW 24th Ave, Miami, FL 33142
Industrial warehouse for sale featuring a 20' ceiling height and D2 light industrial zoning.
Property Size9,500 SF
Lot Size0.34 Acres
Price / SF$347.37
Days on Market505
Property Features for 2059 NW 24th Ave
General Information
Standard status
Active
Size
9,500 SF
Lot size
0.34 Acres
Property subtype
INDUSTRIAL
Zoning
D2
Listing Agency:
Gridline Properties
(305) 282-1862
Listed By:
Jonathan Eismann · License #3243175
Source:
Moodyscre
Added: Mar 21, 2025
Changed: Jul 28
Last Checked: Aug 7 at 4:27AM
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 Gridline Properties
Investment Insights
Based on property information with market context.
This industrial warehouse building is offered for sale and includes a 20' ceiling height. The property is listed as 9,500 square feet of warehouse space on a 14,600 square foot lot, with zoning designated as D2 - Light Industrial.
The site is located in Central Allapattah at 2059 NW 24th Ave, Miami, FL 33142, making it suited for light industrial uses consistent with the D2 zoning designation.
The offering includes a warehouse configuration within a dedicated light industrial zoning framework.
The site is located in Central Allapattah at 2059 NW 24th Ave, Miami, FL 33142, making it suited for light industrial uses consistent with the D2 zoning designation.
The offering includes a warehouse configuration within a dedicated light industrial zoning framework.
Key Highlights
- Industrial warehouse for sale in Central Allapattah
- 9,500 SF building with D2 light industrial zoning
- 20' ceiling height
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
$154,978
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
4.70%
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%
$3,099,560
$3.1M
Cap Rate 7%
$2,213,971
$2.2M
Cap Rate 9%
$1,721,978
$1.7M
Market Conditions
NOI Build-Up for 9,500 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
$191.5K $20.16/SF
− Vacancy
−$9.2K −$0.97/SF
EGI
$182.3K $19.19/SF
− OpEx
−$27.3K −$2.88/SF
NOI
$155.0K $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%
$3,099,560
Cap Rate 7%
$2,213,971
Cap Rate 9%
$1,721,978
Alternative Uses
Best Use
Warehouse
$2.21M
$1.94M – $2.58M
NOI $154,978 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.41M
$5.61M – $7.48M
NOI $448,879 @ 7.0% cap · market cap 13.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,465
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
Median Home Value
Market
Vacancy Rate% for Industrial in Miami, FL
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 warehouse for sale featuring a 20' ceiling height and D2 light industrial zoning.
Where is this warehouse located?
The property is located at 2059 NW 24th Ave Miami, FL.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Industrial warehouse for sale in Central Allapattah; 9,500 SF building with D2 light industrial zoning; 20' ceiling height
