Flex Space with Grade-Level Bay
For Sale
$450,000
13100 SW 134th St, Miami, FL 33186
Commercial Sale, Miami, FL
Property Size1,172 SF
Price / SF$383.96
Days on Market47
Property Features for 13100 SW 134th St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
7700
Subdivision
59
Standard status
Active
APN
30-59-14-114-0080
Taxes and HOA fees
Tax Description
NEXT BUSINESS CENTER I CONDO UNIT 8 BLDG A UNDIV 7.174% INT IN COMMON ELEMENTS OFF REC 24544-0336 COC 24995-1091 10 2006 1
Legal Description
NEXT BUSINESS CENTER I CONDO UNIT 8 BLDG A UNDIV 7.174% INT IN COMMON ELEMENTS OFF REC 24544-0336 COC 24995-1091 10 2006 1
Building Details
Year built
2006
Listing Agency:
Real Estate Sales Force
(305) 392-1497
Listed By:
Antonio Cristobal · License #3253230
(786) 457-3211
Added: Jul 27
Changed: Sep 2
Last Checked: Sep 11 at 2:06AM
MLS# A12060613
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,172-square-foot industrial warehouse condominium combines office and warehouse areas in a practical flex-space configuration. The property includes one grade-level bay door for loading and operational access and is located within an industrial park completed in 2006.
The Miami property provides access to the Florida Turnpike, SR-874, and other major roadways. Potential industrial and commercial uses are subject to applicable zoning requirements and association approval. The condominium format may accommodate both owner-user and investment applications.
The Miami property provides access to the Florida Turnpike, SR-874, and other major roadways. Potential industrial and commercial uses are subject to applicable zoning requirements and association approval. The condominium format may accommodate both owner-user and investment applications.
Key Highlights
- 1,172 SF industrial warehouse condominium
- One grade‑level bay door for loading access
- Office and warehouse configuration
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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse areas support loading, operations, and adaptable commercial use within an industrial park setting.
Where is this flex space located?
The property is located at 13100 SW 134th St 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; One grade‑level bay door for loading access; Office and warehouse configuration
