Flex
For Sale
$2,795,000
Pending
10650 NW 29th Ter, Doral, FL 33172
Flex space with warehouse use and frontage on 107th Avenue.
Property Size9,991 SF
Days on Market2367
Property Features for 10650 NW 29th Ter
General Information
Standard status
Pending
Size
9,991 SF
Property subtype
General Commercial
Amenities
3
Building Details
Year Built
1996
Listing Agency:
Cornerstone Intl. Realty, LLC
(305) 428-2708
Listed By:
Hector Catano · License #0680965
(305) 428-2708
Source:
Xome
Added: Mar 8, 2020
Changed: Aug 30
Last Checked: Aug 30 at 9:24AM
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 Cornerstone Intl. Realty, LLC
Investment Insights
Based on property information with market context.
This Doral flex property contains 9,991 square feet of space configured for warehouse-oriented use. The building was constructed in 1996 and is identified as flex space within the commercial property classification.
The property is located at 10650 NW 29th Ter in Doral, Florida, with frontage on 107th Avenue. Its combination of flex-space classification, warehouse functionality, and established construction provides a straightforward commercial format for evaluation.
The property is located at 10650 NW 29th Ter in Doral, Florida, with frontage on 107th Avenue. Its combination of flex-space classification, warehouse functionality, and established construction provides a straightforward commercial format for evaluation.
Key Highlights
- 9,991‑square‑foot flex property
- Warehouse‑oriented commercial space
- Frontage on 107th Avenue
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
$219,762
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
7.86%
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%
$4,395,240
$4.4M
Cap Rate 7%
$3,139,457
$3.1M
Cap Rate 9%
$2,441,800
$2.4M
Market Conditions
NOI Build-Up for 9,991 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
$359.7K $36.00/SF
− Vacancy
−$21.6K −$2.16/SF
EGI
$338.1K $33.84/SF
− OpEx
−$118.3K −$11.84/SF
NOI
$219.8K $22.00/SF
Area
Miami-Dade County, FL
Vacancy
6.00%
Lease Rate
$36.00 /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%
$4,395,240
Cap Rate 7%
$3,139,457
Cap Rate 9%
$2,441,800
Alternative Uses
Best Use
Flex RnD
$3.14M
$2.75M – $3.66M
NOI $219,762 @ 7.0% cap · market cap 7.86%
Second Best
Warehouse
$1.87M
$1.64M – $2.18M
NOI $130,972 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$5.07M
$4.44M – $5.91M
NOI $354,820 @ 7.0% cap · market cap 12.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,686
Businesses Nearby
Well-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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space with warehouse use and frontage on 107th Avenue.
Where is this flex space located?
The property is located at 10650 NW 29th Ter Doral, FL.
What is the asking price?
The asking price for this property is $2,795,000.
What are key features of this property?
This property features: 9,991‑square‑foot flex property; Warehouse‑oriented commercial space; Frontage on 107th Avenue
