Flex Space with Two Dock
For Sale
$1,400,000
Pending
10600 NW 37th Ter, Doral, FL 33178
Flex space with warehouse and offices, built in 1999, in Cantel West Industrial Park with night security.
Property Size6,700 SF
Days on Market2138
Property Features for 10600 NW 37th Ter
General Information
Standard status
Pending
Size
6,700 SF
Total Parking Spaces
10
Property subtype
General Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
20 ft
Warehouse Space
5,300 SF
Office Build-Out
1,400 SF
Dock-High Doors
2
Taxes and HOA fees
Annual Taxes
$15,649
Amenities
Night security
3
10 Parking Spaces.
Building Details
Year Built
1999
Listing Agency:
Florida Realty of Miami Corp
(305) 206-1977
Listed By:
Clara-Susana Escobar · License #A11991869
(305) 206-1977
Source:
Xome
Added: Oct 17, 2020
Changed: Aug 8
Last Checked: Jul 30 at 10:28AM
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 Florida Realty of Miami Corp
Investment Insights
Based on property information with market context.
Flex space featuring warehouse and office areas within a total building size of 6,700 SF, including 5,300 SF of warehouse space and 1,400 SF of office space. The warehouse includes 2 docks (dock height), a double overhead door 14 ft. high, and storage with 20 ft. clear height, with a maximum ceiling height of 22 ft. The office space offers 3 enclosed offices, a large open area suitable for cubicles, and 2 bathrooms.
Located in Cantel West Industrial Park with night security and a wide 2-lane semi-private road. The property is on NW 37th Ter, near the cross roads of NW 107th Ave. & 41st St. (Doral Blvd), with easy access to the Turnpike (1 mile), Palmetto Expy. - SR 826 (3 miles), and Dolphin Expy. - SR 836 (2 miles). The building includes 10 assigned parking spaces.
Built in 1999, this configuration supports day-to-day warehouse and administrative needs from the same site.
Located in Cantel West Industrial Park with night security and a wide 2-lane semi-private road. The property is on NW 37th Ter, near the cross roads of NW 107th Ave. & 41st St. (Doral Blvd), with easy access to the Turnpike (1 mile), Palmetto Expy. - SR 826 (3 miles), and Dolphin Expy. - SR 836 (2 miles). The building includes 10 assigned parking spaces.
Built in 1999, this configuration supports day-to-day warehouse and administrative needs from the same site.
Key Highlights
- Total 6,700 SF split into 5,300 SF warehouse and 1,400 SF office space
- Warehouse includes 2 dock‑height docks and a double overhead door 14 ft. high
- 20 ft. clear height storage with max ceiling height of 22 ft.
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
$110,950
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
7.93%
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%
$2,219,000
$2.2M
Cap Rate 7%
$1,585,000
$1.6M
Cap Rate 9%
$1,232,778
$1.2M
Market Conditions
NOI Build-Up for 6,700 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
$136.7K $20.40/SF
− Vacancy
−$6.2K −$0.92/SF
EGI
$130.5K $19.48/SF
− OpEx
−$19.6K −$2.92/SF
NOI
$110.9K $16.56/SF
Area
ZIP 33178
Vacancy
4.50%
Lease Rate
$20.40 /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%
$2,219,000
Cap Rate 7%
$1,585,000
Cap Rate 9%
$1,232,778
Alternative Uses
Best Use
Flex RnD
$2.11M
$1.84M – $2.46M
NOI $147,373 @ 7.0% cap · market cap 10.53%
Second Best
Office B
$2.08M
$1.82M – $2.43M
NOI $145,685 @ 7.0% cap · market cap 10.41%
Theoretical Best
Office A
$3.40M
$2.97M – $3.97M
NOI $237,943 @ 7.0% cap · market cap 17.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
2
Dock-high doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,937
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33178, FL
65,487
Population
21,931
Households
3
Avg Household Size
37
Median Age
55%
College-Educated
86%
High-School Grad
61.1 sq mi
ZIP Area
1,072
Density / Sq Mi
$91,338
Median Household Income
$41,710
Median Earnings
$2,609
Median Rent
$499,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space with warehouse and offices, built in 1999, in Cantel West Industrial Park with night security.
Where is this flex space located?
The property is located at 10600 NW 37th Ter Doral, FL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Total 6,700 SF split into 5,300 SF warehouse and 1,400 SF office space; Warehouse includes 2 dock‑height docks and a double overhead door 14 ft. high; 20 ft. clear height storage with max ceiling height of 22 ft.
