Flex Space with Warehouse
New
For Sale
$433,500
13690 SW 142nd Ave 23-A, Miami, FL 33186
Private offices, a full bathroom, and dual building access support flexible operations.
Property Size1,485 SF
Days on Market5
Property Features for 13690 SW 142nd Ave 23-A
General Information
Standard status
Active
Size
1,485 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Warehouse Space
700 SF
Building Details
Building Size
1,485 SF
Year Built
1987
Stories
1
Listing Agency:
Mari Real Estate & Management Group, Inc
(305) 345-1024
Listed By:
Karen Mari · License #3157769
(305) 345-1024
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 7:42AM
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 Mari Real Estate & Management Group, Inc
Investment Insights
Based on property information with market context.
This flex-space unit combines three private offices with one full bathroom and approximately 700 SF of warehouse area. A front-loading roll-up door serves the warehouse, while separate access at the front and rear of the building supports practical movement through the unit. The property was built in 1987 and is described as ready for immediate occupancy.
The unit is near Florida’s Turnpike, Tamiami Airport, and shopping centers. HOA coverage includes water, roof, and insurance. Existing sign business inventory may be purchased separately from the property and is not included in the purchase price. The space is positioned for light industrial or business uses as described in the listing information.
The unit is near Florida’s Turnpike, Tamiami Airport, and shopping centers. HOA coverage includes water, roof, and insurance. Existing sign business inventory may be purchased separately from the property and is not included in the purchase price. The space is positioned for light industrial or business uses as described in the listing information.
Key Highlights
- Approximately 700 SF of warehouse area
- Three private offices and one full bathroom
- Front‑loading roll‑up door serving the warehouse
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
$24,226
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
5.59%
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%
$484,520
$484.5K
Cap Rate 7%
$346,086
$346.1K
Cap Rate 9%
$269,178
$269.2K
Market Conditions
NOI Build-Up for 1,485 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
$29.9K $20.16/SF
− Vacancy
−$1.4K −$0.97/SF
EGI
$28.5K $19.19/SF
− OpEx
−$4.3K −$2.88/SF
NOI
$24.2K $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%
$484,520
Cap Rate 7%
$346,086
Cap Rate 9%
$269,178
Alternative Uses
Best Use
Office B
$676.7K
$592.2K – $789.5K
NOI $47,372 @ 7.0% cap · market cap 10.93%
Second Best
Warehouse
$346.1K
$302.8K – $403.8K
NOI $24,226 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$810.9K
$709.6K – $946.1K
NOI $56,765 @ 7.0% cap · market cap 13.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,207
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 Office in Miami, FL
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 - Private offices, a full bathroom, and dual building access support flexible operations.
Where is this flex space located?
The property is located at 13690 SW 142nd Ave 23-A Miami, FL.
What is the asking price?
The asking price for this property is $433,500.
What are key features of this property?
This property features: Approximately 700 SF of warehouse area; Three private offices and one full bathroom; Front‑loading roll‑up door serving the warehouse
