Warehouse with Dock-Height
For Sale
Contact for pricing
146 SW 2nd Ave, Homestead, FL 33030
Warehouse facility includes two dock-height loading bays, office/storage area, and fire suppression.
Property Size16,153 SF
Price / SF$241.44
Days on Market641
Property Features for 146 SW 2nd Ave
General Information
Standard status
Active
Size
16,153 SF
Total Parking Spaces
11
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
22 ft
Dock-High Doors
2
Drive-In Doors
1
Three-Phase Power
Yes
Sprinkler System
Yes
Additional Details
Utilities to Site
Yes
Building Details
Building Size
16,153 SF
Listing Agency:
Lee & Associates | Miami
(305) 608-1970
Listed By:
Andrew Whitby · License ##SL3439946
(305) 608-1970
Source:
Moodyscre
Added: Nov 29, 2024
Changed: Aug 13
Last Checked: Aug 31 at 4:11PM
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 Lee & Associates | Miami
Investment Insights
Based on property information with market context.
This warehouse facility totals 16,153 SF and includes a main warehouse area with 33' center clearance and 22' side clearance. An office/storage component adds 2,500 SF with 24' center clearance and 16' side clearance, supporting flexible use within the same building.
Loading features include two dock-height loading bays and one street-level door. The property is equipped with three-phase power and a full fire suppression system, and it has city sewer and water connections. On-site parking is provided with 11 assigned spaces.
An optional 13,500 SF lot is available for lease, which may support additional operational needs depending on tenant requirements.
Loading features include two dock-height loading bays and one street-level door. The property is equipped with three-phase power and a full fire suppression system, and it has city sewer and water connections. On-site parking is provided with 11 assigned spaces.
An optional 13,500 SF lot is available for lease, which may support additional operational needs depending on tenant requirements.
Key Highlights
- 16,153 SF warehouse facility with main warehouse clearances of 33' center and 22' side
- Includes 2,500 SF office/storage area with 24' center and 16' side clearances
- Two dock‑height loading bays plus one street‑level door
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
$211,750
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
5.43%
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%
$4,235,000
$4.2M
Cap Rate 7%
$3,025,000
$3.0M
Cap Rate 9%
$2,352,778
$2.4M
Market Conditions
NOI Build-Up for 16,153 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
$263.6K $16.32/SF
− Vacancy
−$14.5K −$0.90/SF
EGI
$249.1K $15.42/SF
− OpEx
−$37.4K −$2.31/SF
NOI
$211.8K $13.11/SF
Area
Miami-Dade County, FL
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%
$4,235,000
Cap Rate 7%
$3,025,000
Cap Rate 9%
$2,352,778
Alternative Uses
Best Use
Warehouse
$3.02M
$2.65M – $3.53M
NOI $211,750 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.20M
$7.17M – $9.56M
NOI $573,657 @ 7.0% cap · market cap 14.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
22 ft
Clear height
2
Dock-high doors
1
Drive-in doors
Yes
Sprinkler system
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
735
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33030, FL
36,776
Population
11,217
Households
3.3
Avg Household Size
33
Median Age
15%
College-Educated
61%
High-School Grad
17.6 sq mi
ZIP Area
2,090
Density / Sq Mi
$43,231
Median Household Income
$28,214
Median Earnings
$1,307
Median Rent
$382,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse facility includes two dock-height loading bays, office/storage area, and fire suppression.
Where is this warehouse located?
The property is located at 146 SW 2nd Ave Homestead, FL.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 16,153 SF warehouse facility with main warehouse clearances of 33' center and 22' side; Includes 2,500 SF office/storage area with 24' center and 16' side clearances; Two dock‑height loading bays plus one street‑level door
