Office-Flex Unit with Warehouse
For Sale
$299,000
13380 SW 131st Street Unit 119, Miami, FL 33186
Converted office unit with air conditioning, half bath, and operational warehouse door plus two assigned parking spaces.
Property Size1,187 SF
Price / SF$251.90
Days on Market51
Property Features for 13380 SW 131st Street Unit 119
General Information
Standard status
Active
Size
1,187 SF
Property subtype
Mixed Use
Building Details
Year Built
1990
Listing Agency:
Preztige Realty, LLC
(786) 547-8907
Listed By:
Victor Perez · License #A12048449
(786) 547-8907
Source:
Lehmannflorida
Added: Jul 6
Changed: Aug 24
Last Checked: Aug 23 at 6:40AM
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 Preztige Realty, LLC
Investment Insights
Based on property information with market context.
This for-sale office-flex unit was permitted and converted to an office space, and it includes full air conditioning and a private half bathroom. An operational warehouse door remains in place, which can support flexibility if the unit is converted back to mini-warehouse or flex use, subject to association and governmental approval. The association fee includes water.
The property is offered as a 1,187-square-foot unit based on owner/plans, and the roof is scheduled as new in 2026. The unit comes with two assigned parking spaces, along with plenty of guest parking.
A buyer should verify square footage, permitted use, association rules, zoning, conversion options, and overall suitability for the intended use prior to purchase.
The property is offered as a 1,187-square-foot unit based on owner/plans, and the roof is scheduled as new in 2026. The unit comes with two assigned parking spaces, along with plenty of guest parking.
A buyer should verify square footage, permitted use, association rules, zoning, conversion options, and overall suitability for the intended use prior to purchase.
Key Highlights
- Converted commercial office unit with air conditioning, private half bathroom, and an operational warehouse door
- 1,187 sq. ft. office unit (as per owner/plans) permitted and converted from prior use
- Two assigned parking spaces plus plenty of guest parking
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
$19,147
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
6.40%
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%
$382,940
$382.9K
Cap Rate 7%
$273,529
$273.5K
Cap Rate 9%
$212,744
$212.7K
Market Conditions
NOI Build-Up for 1,187 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
$31.3K $26.40/SF
− Vacancy
−$1.9K −$1.58/SF
EGI
$29.5K $24.82/SF
− OpEx
−$10.3K −$8.69/SF
NOI
$19.1K $16.13/SF
Area
ZIP 33186
Vacancy
6.00%
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%
$382,940
Cap Rate 7%
$273,529
Cap Rate 9%
$212,744
Alternative Uses
Best Use
Office B
$540.9K
$473.3K – $631.1K
NOI $37,866 @ 7.0% cap · market cap 12.66%
Second Best
Flex RnD
$273.5K
$239.3K – $319.1K
NOI $19,147 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$648.2K
$567.2K – $756.2K
NOI $45,373 @ 7.0% cap · market cap 15.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,347
Businesses Nearby
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Converted office unit with air conditioning, half bath, and operational warehouse door plus two assigned parking spaces.
Where is this office units located?
The property is located at 13380 SW 131st Street Unit 119 Miami, FL.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Converted commercial office unit with air conditioning, private half bathroom, and an operational warehouse door; 1,187 sq. ft. office unit (as per owner/plans) permitted and converted from prior use; Two assigned parking spaces plus plenty of guest parking
