Flex Space Condo with Grade-Level
For Sale
$450,000
13100 SW 134th Street #8, Miami, FL 33186
Industrial park flex space condominium with a functional office/warehouse layout and one grade-level bay door.
Property Size1,172 SF
Price / SF$383.96
Days on Market27
Property Features for 13100 SW 134th Street #8
General Information
Standard status
Active
Size
1,172 SF
Zoning
7700
Additional Details
Highway Access
Yes
Drive-In Doors
1
Building Details
Building Size
1,172 SF
Year Built
2006
Listing Agency:
Real Estate Sales Force
(786) 457-3211
Listed By:
Antonio Cristobal · License #3253230
(786) 457-3211
Source:
Laerrealty
Added: Jul 29
Changed: Aug 8
Last Checked: Aug 24 at 3:11AM
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 Real Estate Sales Force
Investment Insights
Based on property information with market context.
This flex space condominium is a well-maintained industrial warehouse unit featuring a functional office/warehouse layout and one grade-level bay door. At 1,172 SF, the space is configured to support loading and day-to-day operations while keeping office functionality on-site.
The unit is centrally located within an industrial park and offers convenient access for loading and operations. Major roadway access includes the Florida Turnpike and SR-874, supporting efficient connectivity for industrial and commercial use, subject to zoning and association approval.
Built in 2006, this property is well-suited for an owner-user or an investor seeking an industrial warehouse condo format in a maintained industrial park setting.
The unit is centrally located within an industrial park and offers convenient access for loading and operations. Major roadway access includes the Florida Turnpike and SR-874, supporting efficient connectivity for industrial and commercial use, subject to zoning and association approval.
Built in 2006, this property is well-suited for an owner-user or an investor seeking an industrial warehouse condo format in a maintained industrial park setting.
Key Highlights
- 1,172 SF industrial warehouse condominium in a well‑maintained industrial park
- One grade‑level bay door for loading and operations
- Functional office/warehouse layout
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
$19,119
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
4.25%
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%
$382,380
$382.4K
Cap Rate 7%
$273,129
$273.1K
Cap Rate 9%
$212,433
$212.4K
Market Conditions
NOI Build-Up for 1,172 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
$23.6K $20.16/SF
− Vacancy
−$1.1K −$0.97/SF
EGI
$22.5K $19.19/SF
− OpEx
−$3.4K −$2.88/SF
NOI
$19.1K $16.31/SF
Area
ZIP 33186
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%
$382,380
Cap Rate 7%
$273,129
Cap Rate 9%
$212,433
Alternative Uses
Best Use
Warehouse
$273.1K
$239.0K – $318.7K
NOI $19,119 @ 7.0% cap · market cap 4.25%
Second Best
Flex RnD
$270.1K
$236.3K – $315.1K
NOI $18,905 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$640.0K
$560.0K – $746.7K
NOI $44,800 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,434
Businesses Nearby
Well-served
Demand for This Use
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 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?
Flex space - Industrial park flex space condominium with a functional office/warehouse layout and one grade-level bay door.
Where is this flex space located?
The property is located at 13100 SW 134th Street #8 Miami, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,172 SF industrial warehouse condominium in a well‑maintained industrial park; One grade‑level bay door for loading and operations; Functional office/warehouse layout
