Two-Story Flex
For Sale
$450,000
9-13028 Sw 120th St, Miami, FL 33168
Compact commercial property with separate office areas, private access, and dedicated parking.
Property Size1,280 SF
Price / SF$351.56
Days on Market475
Property Features for 9-13028 Sw 120th St
General Information
Standard status
Active
Size
1,280 SF
Total Parking Spaces
2
Occupancy
100%
Additional Details
Gross Income
$42,000
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$2,084
Amenities
private bathrooms
central air conditioning
exit fire door
picture window
Building Details
Buildings
1
Stories
2
Building Size
1,280 SF
Tenancy
Multi
Listing Agency:
Eye Property Realty
Listed By:
Lazara Sabatier · License #3252184
(786) 424-8256
Source:
Exprealty
Added: May 16, 2025
Changed: Aug 31
Last Checked: Aug 30 at 10:54PM
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 Eye Property Realty
Investment Insights
Based on property information with market context.
This two-level flex property provides approximately 640 square feet on each floor. The first level includes a picture window, a secured roll door, and private bathroom facilities. A dedicated interior staircase leads upstairs to two large offices and an additional bathroom. Independent central A/C serves the building, and a fire exit door is located on the second floor.
The property includes 2 assigned parking spaces and fronts SW 120th St in Miami. Wendy’s is located next door, providing a recognizable neighboring commercial use. The configuration accommodates a combination of warehouse, office, and service-oriented functions within a compact footprint.
The property includes 2 assigned parking spaces and fronts SW 120th St in Miami. Wendy’s is located next door, providing a recognizable neighboring commercial use. The configuration accommodates a combination of warehouse, office, and service-oriented functions within a compact footprint.
Key Highlights
- Two‑story flex property with approximately 640 sq ft on each floor
- Two large offices located on the second floor
- Roll door and picture window on the first floor
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
$36,720
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
8.16%
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%
$734,400
$734.4K
Cap Rate 7%
$524,571
$524.6K
Cap Rate 9%
$408,000
$408.0K
Market Conditions
NOI Build-Up for 1,280 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
$57.6K $45.00/SF
− Vacancy
−$8.6K −$6.75/SF
EGI
$49.0K $38.25/SF
− OpEx
−$12.2K −$9.56/SF
NOI
$36.7K $28.69/SF
Area
Miami, FL
Vacancy
15.00%
Lease Rate
$45.00 /SF/Yr
Expense Ratio
25.00%
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%
$734,400
Cap Rate 7%
$524,571
Cap Rate 9%
$408,000
Alternative Uses
Best Use
Office B
$524.6K
$459.0K – $612.0K
NOI $36,720 @ 7.0% cap · market cap 8.16%
Second Best
Warehouse
$298.3K
$261.0K – $348.0K
NOI $20,881 @ 7.0% cap · market cap 4.64%
Theoretical Best
Specialty Retail
$864.0K
$756.0K – $1.01M
NOI $60,481 @ 7.0% cap · market cap 13.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
975
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33168, FL
24,715
Population
6,761
Households
3.7
Avg Household Size
39
Median Age
16%
College-Educated
79%
High-School Grad
3.6 sq mi
ZIP Area
6,865
Density / Sq Mi
$58,636
Median Household Income
$31,984
Median Earnings
$1,576
Median Rent
$329,000
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.
Similar Off Market Nearby
- Exceptional Caterers — 11720 NE 2nd Ave, Miami, FL 33161
- Smoove Caribbean — 12351 NW 7th Ave, North Miami, FL 33168
- Taste Good Miami — 12351 NW 7th Ave, North Miami, FL 33168
- BONGU KITCHEN — 765 NW 127th St, Miami, FL 33168
- Libon Eats — 565 NE 132nd St, Miami, FL 33161
Frequently Asked Questions
What type of property is this?
Flex space - Compact commercial property with separate office areas, private access, and dedicated parking.
Where is this flex space located?
The property is located at 9-13028 Sw 120th St Miami, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑story flex property with approximately 640 sq ft on each floor; Two large offices located on the second floor; Roll door and picture window on the first floor
