Renovated Warehouse with Office
For Sale
$900,000
Pending
13500 SW 134th Avenue #4A, Miami, FL 33186
Turnkey renovated industrial space with office amenities, mezzanine, and flexible open warehouse layout.
Property Size2,518 SF
Days on Market77
Property Features for 13500 SW 134th Avenue #4A
General Information
Standard status
Pending
Size
2,518 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$6,371
Amenities
Common
Concrete Flooring
Tile Flooring
Building Details
Year Built
2006
Listing Agency:
ONE SOTHEBY'S INTERNATIONAL REALTY
(305) 454-2272
Listed By:
JESSICA FERNANDEZ · License #A11973403
Source:
Corcoran
Added: Jun 9
Changed: Aug 22
Last Checked: Aug 23 at 2:50AM
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 ONE SOTHEBY'S INTERNATIONAL REALTY
Investment Insights
Based on property information with market context.
This renovated warehouse suite offers a thoughtfully designed interior with new flooring throughout, an open warehouse layout, and a mezzanine area. The space includes a full office build-out with dedicated kitchen and bathroom facilities, plus an additional half bathroom. The configuration supports both practical industrial use and daily operations for owner-users or creative workspaces.
The property is located near Tamiami Airport, providing a convenient industrial setting within the surrounding Miami area. Access and proximity to airport-related routes make it suitable for users that value an established industrial location.
As a flexible, turnkey option, the suite is well-suited for an owner-user who wants warehouse functionality along with in-unit office and restrooms. It may also appeal to buyers looking for a collector or creative workspace where a fully renovated environment can be put to work immediately. A car lift may be included in the sale price, subject to the terms of the purchase.
The property is located near Tamiami Airport, providing a convenient industrial setting within the surrounding Miami area. Access and proximity to airport-related routes make it suitable for users that value an established industrial location.
As a flexible, turnkey option, the suite is well-suited for an owner-user who wants warehouse functionality along with in-unit office and restrooms. It may also appeal to buyers looking for a collector or creative workspace where a fully renovated environment can be put to work immediately. A car lift may be included in the sale price, subject to the terms of the purchase.
Key Highlights
- Renovated warehouse built in 2006 with 1,750 SF of open warehouse space
- New flooring throughout, plus a full office build‑out for added workspace
- Includes mezzanine area and flexible open layout for multiple uses
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
$41,077
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
4.56%
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%
$821,540
$821.5K
Cap Rate 7%
$586,814
$586.8K
Cap Rate 9%
$456,411
$456.4K
Market Conditions
NOI Build-Up for 2,518 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
$50.8K $20.16/SF
− Vacancy
−$2.4K −$0.97/SF
EGI
$48.3K $19.19/SF
− OpEx
−$7.2K −$2.88/SF
NOI
$41.1K $16.31/SF
Area
ZIP 33186
Vacancy
4.80%
Lease Rate
$20.16 /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%
$821,540
Cap Rate 7%
$586,814
Cap Rate 9%
$456,411
Alternative Uses
Best Use
Warehouse
$586.8K
$513.5K – $684.6K
NOI $41,077 @ 7.0% cap · market cap 4.56%
Second Best
Flex RnD
$580.2K
$507.7K – $676.9K
NOI $40,616 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$1.38M
$1.20M – $1.60M
NOI $96,251 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,831
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Turnkey renovated industrial space with office amenities, mezzanine, and flexible open warehouse layout.
Where is this flex space located?
The property is located at 13500 SW 134th Avenue #4A Miami, FL.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Renovated warehouse built in 2006 with 1,750 SF of open warehouse space; New flooring throughout, plus a full office build‑out for added workspace; Includes mezzanine area and flexible open layout for multiple uses
