Corner Warehouse Condo with
For Sale
$1,995,000
13275 SW 136th St Unit 17, Miami, FL 33186
6,121 SF corner warehouse condo with high clear space, a bay door, and an adjoining air-conditioned office/retail shop.
Property Size6,121 SF
Price / SF$325.93
Days on Market428
Property Features for 13275 SW 136th St Unit 17
General Information
Standard status
Active
Size
6,121 SF
Total Parking Spaces
5
Property subtype
Retail
Warehouse & Industrial
Clear Height
25 ft
Heavy Power
Yes
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$15,487
Amenities
Window/Wall Unit
3
Parking.
5 Parking Spaces. Guest Parking, Assigned Parking Space.
County Road.
Building Details
Year Built
2004
Listing Agency:
BHHS EWM Realty
(305) 960-2400
Listed By:
Frank Kissel · License #3164676
(305) 496-0901
Source:
Xome
Added: Jul 5, 2025
Changed: Sep 4
Last Checked: Aug 24 at 3:19AM
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 BHHS EWM Realty
Investment Insights
Based on property information with market context.
This corner warehouse condo offers a total of 6,121 square feet, including a 5,765 square-foot warehouse with approximately 25-foot clear ceiling height. The space features a bay door, twin T construction, 3-phase electric, and concrete floors.
An adjoining 356 square-foot office/retail shop is fully air-conditioned and includes a separate customer entrance. The suite is supported by two restrooms and the building provides five assigned parking spaces in the lot, plus additional guest parking.
The property is described as permitting light industrial and manufacturing uses, making it suitable for an owner-user or as an investment opportunity. It is located one block from Tamiami Airport and next to Amazon’s Distribution Center.
An adjoining 356 square-foot office/retail shop is fully air-conditioned and includes a separate customer entrance. The suite is supported by two restrooms and the building provides five assigned parking spaces in the lot, plus additional guest parking.
The property is described as permitting light industrial and manufacturing uses, making it suitable for an owner-user or as an investment opportunity. It is located one block from Tamiami Airport and next to Amazon’s Distribution Center.
Key Highlights
- 6,121 SF corner warehouse condo built in 2004, with 5,765 SF +/- clear warehouse space
- 5,765 SF +/- clear space with 25' +/- ceiling height, concrete floors, and 3‑phase electric
- Warehouse includes a bay door and is in a twin T construction 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
$99,855
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
5.01%
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%
$1,997,100
$2.0M
Cap Rate 7%
$1,426,500
$1.4M
Cap Rate 9%
$1,109,500
$1.1M
Market Conditions
NOI Build-Up for 6,121 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
$123.4K $20.16/SF
− Vacancy
−$5.9K −$0.97/SF
EGI
$117.5K $19.19/SF
− OpEx
−$17.6K −$2.88/SF
NOI
$99.9K $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%
$1,997,100
Cap Rate 7%
$1,426,500
Cap Rate 9%
$1,109,500
Alternative Uses
Best Use
Office B
$2.79M
$2.44M – $3.25M
NOI $195,263 @ 7.0% cap · market cap 9.79%
Second Best
Warehouse
$1.43M
$1.25M – $1.66M
NOI $99,855 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$3.34M
$2.92M – $3.90M
NOI $233,977 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
25 ft
Clear height
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,624
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 Office in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 6,121 SF corner warehouse condo with high clear space, a bay door, and an adjoining air-conditioned office/retail shop.
Where is this flex space located?
The property is located at 13275 SW 136th St Unit 17 Miami, FL.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 6,121 SF corner warehouse condo built in 2004, with 5,765 SF +/- clear warehouse space; 5,765 SF +/- clear space with 25' +/- ceiling height, concrete floors, and 3‑phase electric; Warehouse includes a bay door and is in a twin T construction configuration
