Warehouse
For Sale
$159,900
Pending
18561 SW 104th Ave Unit 2D, Cutler Bay, FL 33157
Warehouse space near US 1, the Florida Turnpike, and 186th Street.
Property Size980 SF
Days on Market2497
Property Features for 18561 SW 104th Ave Unit 2D
General Information
Standard status
Pending
Size
980 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$1,376
Amenities
3
Building Details
Year Built
1990
Listing Agency:
Best American Realty Corp
(786) 732-4337
Listed By:
Moises Saca · License #3273351
(305) 389-3491
Source:
Xome
Added: Nov 3, 2019
Changed: Aug 30
Last Checked: Aug 30 at 1:02PM
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 Best American Realty Corp
Investment Insights
Based on property information with market context.
This warehouse property is identified as Unit 2D at 18561 SW 104th Ave in Cutler Bay, Florida. The building dates to 1990 and is offered for sale as a warehouse asset.
The property is situated near US 1, the Florida Turnpike, and 186th Street, providing proximity to several established transportation corridors.
The property is situated near US 1, the Florida Turnpike, and 186th Street, providing proximity to several established transportation corridors.
Key Highlights
- Warehouse property offered for sale
- Located at 18561 SW 104th Ave, Unit 2D
- Near US 1, the Florida Turnpike, and 186th Street
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
$12,847
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
8.03%
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%
$256,940
$256.9K
Cap Rate 7%
$183,529
$183.5K
Cap Rate 9%
$142,744
$142.7K
Market Conditions
NOI Build-Up for 980 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
$16.0K $16.32/SF
− Vacancy
−$880 −$0.90/SF
EGI
$15.1K $15.42/SF
− OpEx
−$2.3K −$2.31/SF
NOI
$12.8K $13.11/SF
Area
ZIP 33157
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%
$256,940
Cap Rate 7%
$183,529
Cap Rate 9%
$142,744
Alternative Uses
Best Use
Warehouse
$183.5K
$160.6K – $214.1K
NOI $12,847 @ 7.0% cap · market cap 8.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$497.2K
$435.1K – $580.1K
NOI $34,804 @ 7.0% cap · market cap 21.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,382
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33157, FL
68,069
Population
23,176
Households
2.9
Avg Household Size
42
Median Age
33%
College-Educated
86%
High-School Grad
14.9 sq mi
ZIP Area
4,568
Density / Sq Mi
$80,364
Median Household Income
$38,803
Median Earnings
$1,493
Median Rent
$478,300
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?
Warehouse - Warehouse space near US 1, the Florida Turnpike, and 186th Street.
Where is this warehouse located?
The property is located at 18561 SW 104th Ave Unit 2D Cutler Bay, FL.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: Warehouse property offered for sale; Located at 18561 SW 104th Ave, Unit 2D; Near US 1, the Florida Turnpike, and 186th Street
