Air-Conditioned Warehouse
New
For Sale
$750,000
1770 SE 38th Avenue #15, Homestead, FL 33035
Secure gated access and a private washroom with shower support storage and small-business use.
Property Size1,960 SF
Price / SF$382.65
Days on Market3
Property Features for 1770 SE 38th Avenue #15
General Information
Standard status
Active
Size
1,960 SF
Warehouse & Industrial
Clear Height
20 ft
Warehouse Space
1,960 SF
Drive-In Doors
1
Sprinkler System
Yes
Conditioned Warehouse
Yes
Amenities
private restroom with shower
24/7 cameras
gated access
Building Details
Building Size
1,960 SF
Stories
1
Construction
tilt-up concrete
Listing Agency:
Swenson & Ecuyer Realty
Listed By:
Olga Grant · License #3278840
(786) 647-8076
Source:
Laerrealty
Added: Oct 2
Changed: Oct 3
Last Checked: Oct 3 at 2:29AM
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 Swenson & Ecuyer Realty
Investment Insights
Based on property information with market context.
This warehouse unit contains 1,960 square feet of fully air-conditioned space, with 20-foot ceilings and a 14-by-14-foot hurricane-resistant roll-up door. A private restroom with a shower serves the unit. Concrete tilt-up walls and fire sprinklers are part of the building’s construction and safety features.
The facility has gated entry and 24/7 camera surveillance. It is located across from Homestead Speedway. The space is described for inventory storage, recreational vehicles, and business operations.
The facility has gated entry and 24/7 camera surveillance. It is located across from Homestead Speedway. The space is described for inventory storage, recreational vehicles, and business operations.
Key Highlights
- 1,960 square feet of fully air‑conditioned warehouse space
- 20‑foot ceilings and a 14‑by‑14‑foot hurricane‑resistant roll‑up door
- Private restroom with shower
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
$25,694
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
3.43%
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%
$513,880
$513.9K
Cap Rate 7%
$367,057
$367.1K
Cap Rate 9%
$285,489
$285.5K
Market Conditions
NOI Build-Up for 1,960 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
$32.0K $16.32/SF
− Vacancy
−$1.8K −$0.90/SF
EGI
$30.2K $15.42/SF
− OpEx
−$4.5K −$2.31/SF
NOI
$25.7K $13.11/SF
Area
Miami-Dade County, FL
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%
$513,880
Cap Rate 7%
$367,057
Cap Rate 9%
$285,489
Alternative Uses
Best Use
Warehouse
$367.1K
$321.2K – $428.2K
NOI $25,694 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$994.4K
$870.1K – $1.16M
NOI $69,607 @ 7.0% cap · market cap 9.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
20 ft
Clear height
1
Drive-in doors
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33035, FL
18,065
Population
6,711
Households
2.7
Avg Household Size
33
Median Age
28%
College-Educated
92%
High-School Grad
29.5 sq mi
ZIP Area
612
Density / Sq Mi
$67,601
Median Household Income
$37,785
Median Earnings
$1,855
Median Rent
$310,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Warehouse - Secure gated access and a private washroom with shower support storage and small-business use.
Where is this warehouse located?
The property is located at 1770 SE 38th Avenue #15 Homestead, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 1,960 square feet of fully air‑conditioned warehouse space; 20‑foot ceilings and a 14‑by‑14‑foot hurricane‑resistant roll‑up door; Private restroom with shower
