Freestanding Flex
For Sale
$650,000
Pending
10401 NW 28th St Unit B101, Doral, FL 33172
Condominium commercial property combining office improvements with warehouse functionality and secured access.
Property Size4,373 SF
Days on Market2574
Property Features for 10401 NW 28th St Unit B101
General Information
Standard status
Pending
Size
4,373 SF
Total Parking Spaces
8
Property subtype
General Commercial
Warehouse & Industrial
Warehouse Space
2,900 SF
Office Build-Out
1,500 SF
Drive-In Doors
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,462
Amenities
Security gate
3
8 Parking Spaces.
Building Details
Year Built
1987
Buildings
1
Stories
2
Listing Agency:
Miami New Realty
(786) 287-4534
Listed By:
Juan David Acevedo · License #A12027044
(786) 287-4534
Source:
Xome
Added: Aug 16, 2019
Changed: Aug 29
Last Checked: Aug 29 at 11:34PM
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 Miami New Realty
Investment Insights
Based on property information with market context.
This flex property combines office and warehouse areas within a freestanding condominium building. The office component includes space on both floors, five private offices, a reception area, kitchen, and three restrooms. A street-level loading door supports warehouse operations, while eight assigned parking spaces serve the property.
The property is located in Doral and provides access to major highways. A security gate adds controlled entry to the condominium setting. Built in 1987, the building is currently available for occupancy.
The property is located in Doral and provides access to major highways. A security gate adds controlled entry to the condominium setting. Built in 1987, the building is currently available for occupancy.
Key Highlights
- 1,500 SF of office area and 2,900 SF of warehouse area
- 1,000 SF of office space on the second floor and 500 SF on the first floor
- Five offices, reception area, kitchen, and three restrooms
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
$57,326
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
8.82%
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%
$1,146,520
$1.1M
Cap Rate 7%
$818,943
$818.9K
Cap Rate 9%
$636,956
$637.0K
Market Conditions
NOI Build-Up for 4,373 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
$71.4K $16.32/SF
− Vacancy
−$3.9K −$0.90/SF
EGI
$67.4K $15.42/SF
− OpEx
−$10.1K −$2.31/SF
NOI
$57.3K $13.11/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$16.32 /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%
$1,146,520
Cap Rate 7%
$818,943
Cap Rate 9%
$636,956
Alternative Uses
Best Use
Office B
$1.66M
$1.45M – $1.93M
NOI $115,906 @ 7.0% cap · market cap 17.83%
Second Best
Flex RnD
$1.37M
$1.20M – $1.60M
NOI $96,189 @ 7.0% cap · market cap 14.80%
Theoretical Best
Office A
$2.22M
$1.94M – $2.59M
NOI $155,303 @ 7.0% cap · market cap 23.89%
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
796
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33172, FL
43,911
Population
16,103
Households
2.7
Avg Household Size
42
Median Age
32%
College-Educated
75%
High-School Grad
6.4 sq mi
ZIP Area
6,861
Density / Sq Mi
$61,733
Median Household Income
$35,061
Median Earnings
$1,926
Median Rent
$260,200
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 - Condominium commercial property combining office improvements with warehouse functionality and secured access.
Where is this flex space located?
The property is located at 10401 NW 28th St Unit B101 Doral, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 1,500 SF of office area and 2,900 SF of warehouse area; 1,000 SF of office space on the second floor and 500 SF on the first floor; Five offices, reception area, kitchen, and three restrooms
