Flex Space with
For Sale
$239,400
Pending
8191 NW 91st Ter Unit 3, Medley, FL 33166
Industrial property combining office accommodations with dedicated storage capacity.
Property Size1,563 SF
Days on Market2466
Property Features for 8191 NW 91st Ter Unit 3
General Information
Standard status
Pending
Size
1,563 SF
Property subtype
General Commercial
Amenities
conference room
3
Building Details
Year Built
1982
Listing Agency:
The Canero Group
(786) 302-6882
Listed By:
Rodolfo Rodriguez · License #0695673
(786) 302-6882
Source:
Xome
Added: Dec 1, 2019
Changed: Aug 31
Last Checked: Aug 30 at 4:42AM
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 The Canero Group
Investment Insights
Based on property information with market context.
This flex-space property combines seven offices, a conference room, and a large mezzanine that provides additional storage. The configuration supports office functions alongside in-house storage within the same industrial building.
Built in 1982, the property is located at 8191 NW 91st Ter Unit 3 in Medley, Florida.
Built in 1982, the property is located at 8191 NW 91st Ter Unit 3 in Medley, Florida.
Key Highlights
- Seven offices and a conference room
- Large mezzanine for additional storage
- Built in 1982
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
$20,489
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
8.56%
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%
$409,780
$409.8K
Cap Rate 7%
$292,700
$292.7K
Cap Rate 9%
$227,656
$227.7K
Market Conditions
NOI Build-Up for 1,563 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
$25.5K $16.32/SF
− Vacancy
−$1.4K −$0.90/SF
EGI
$24.1K $15.42/SF
− OpEx
−$3.6K −$2.31/SF
NOI
$20.5K $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%
$409,780
Cap Rate 7%
$292,700
Cap Rate 9%
$227,656
Alternative Uses
Best Use
Office B
$591.8K
$517.8K – $690.5K
NOI $41,427 @ 7.0% cap · market cap 17.30%
Second Best
Flex RnD
$491.1K
$429.8K – $573.0K
NOI $34,380 @ 7.0% cap · market cap 14.36%
Theoretical Best
Office A
$793.0K
$693.9K – $925.1K
NOI $55,508 @ 7.0% cap · market cap 23.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,864
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33166, FL
26,106
Population
10,838
Households
2.4
Avg Household Size
41
Median Age
42%
College-Educated
83%
High-School Grad
7.9 sq mi
ZIP Area
3,305
Density / Sq Mi
$78,166
Median Household Income
$39,744
Median Earnings
$1,766
Median Rent
$489,200
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 - Industrial property combining office accommodations with dedicated storage capacity.
Where is this flex space located?
The property is located at 8191 NW 91st Ter Unit 3 Medley, FL.
What is the asking price?
The asking price for this property is $239,400.
What are key features of this property?
This property features: Seven offices and a conference room; Large mezzanine for additional storage; Built in 1982
