Remodeled Unit 30 Office Flex
For Sale
$140,000
Pending
10871 SW 188th St Unit 30, Cutler Bay, FL 33157
Fully remodeled office flex unit with new A/C, reception area, kitchen room, and CAT6 network connectivity.
Property Size802 SF
Days on Market2475
Property Features for 10871 SW 188th St Unit 30
General Information
Standard status
Pending
Size
802 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$1,353
Amenities
reception area
kitchen room
brand new Air Condition Unit
CAT 6 network
3
3 Parking Spaces.
Building Details
Year Built
2006
Listing Agency:
Malouf Int'l Realty, Inc.
(786) 546-4785
Listed By:
Juan Malouf · License #3101900
(786) 546-4785
Source:
Xome
Added: Nov 1, 2019
Changed: Aug 8
Last Checked: Jul 30 at 11:48AM
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 Malouf Int'l Realty, Inc.
Investment Insights
Based on property information with market context.
This remodeled office flex space (Unit 30) is laid out with four areas plus a reception area and a kitchen room. The interior has been completely remodeled with top-of-the-line materials. A brand new air conditioning unit is included, and the space features a CAT 6 network system with over 21 points of connections to support business connectivity needs.
The property was built in 2006. Guest facilities are listed as 3, and the unit includes 3 parking spaces.
Designed for an owner-occupant workflow, the space combines a professional reception entry with additional rooms for day-to-day operations and back-of-house functionality through the on-site kitchen room.
The property was built in 2006. Guest facilities are listed as 3, and the unit includes 3 parking spaces.
Designed for an owner-occupant workflow, the space combines a professional reception entry with additional rooms for day-to-day operations and back-of-house functionality through the on-site kitchen room.
Key Highlights
- Unit 30 remodeled office flex space with four areas plus reception and kitchen room
- Brand new air conditioning unit
- CAT 6 network with over 21 points of connections
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
$12,799
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
9.14%
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%
$255,980
$256.0K
Cap Rate 7%
$182,843
$182.8K
Cap Rate 9%
$142,211
$142.2K
Market Conditions
NOI Build-Up for 802 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
$21.2K $26.40/SF
− Vacancy
−$1.5K −$1.85/SF
EGI
$19.7K $24.55/SF
− OpEx
−$6.9K −$8.59/SF
NOI
$12.8K $15.96/SF
Area
ZIP 33157
Vacancy
7.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
35.00%
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%
$255,980
Cap Rate 7%
$182,843
Cap Rate 9%
$142,211
Alternative Uses
Best Use
Office B
$308.5K
$269.9K – $359.9K
NOI $21,593 @ 7.0% cap · market cap 15.42%
Second Best
Flex RnD
$182.8K
$160.0K – $213.3K
NOI $12,799 @ 7.0% cap · market cap 9.14%
Theoretical Best
Office A
$406.9K
$356.0K – $474.7K
NOI $28,482 @ 7.0% cap · market cap 20.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,394
Businesses Nearby
Under-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?
Flex space - Fully remodeled office flex unit with new A/C, reception area, kitchen room, and CAT6 network connectivity.
Where is this flex space located?
The property is located at 10871 SW 188th St Unit 30 Cutler Bay, FL.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: Unit 30 remodeled office flex space with four areas plus reception and kitchen room; Brand new air conditioning unit; CAT 6 network with over 21 points of connections
