Flex Space with Office and Bay
For Sale
$285,000
Pending
137-13390 Sw 131st St, Miami, FL 33186
Functional flex unit with first-floor warehouse space, second-floor office under central A/C, plus restroom and parking.
Property Size530 SF
Days on Market28
Property Features for 137-13390 Sw 131st St
General Information
Standard status
Pending
Size
530 SF
Total Parking Spaces
2
Additional Details
Highway Access
Yes
Conditioned Warehouse
Yes
Amenities
private restroom
small kitchenette
Building Details
Stories
2
Listing Agency:
Coldwell Banker Realty
(786) 760-0372
Listed By:
Alejandra E Alfaro
(786) 760-0372
Source:
Exprealty
Added: Jul 20
Changed: Aug 14
Last Checked: Aug 15 at 11:01AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Functional flex unit offering warehouse space on the first floor and an office on the second floor, with the entire unit under central A/C for year-round comfort. The property includes a 10 foot bay door for loading and unloading, a private restroom, and a small kitchenette.
The unit also comes with two assigned parking spaces, plus additional guest parking. It is ideally located in the Tamiami airport industrial district, with quick access to major highways and surrounded by a concentrated warehouse and commercial area.
The unit also comes with two assigned parking spaces, plus additional guest parking. It is ideally located in the Tamiami airport industrial district, with quick access to major highways and surrounded by a concentrated warehouse and commercial area.
Key Highlights
- 530 sq ft flex unit with first‑floor warehouse and second‑floor office
- Entire unit under central A/C for year‑round comfort
- 10 foot bay door for convenient loading and unloading
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
$16,907
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
5.93%
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%
$338,140
$338.1K
Cap Rate 7%
$241,529
$241.5K
Cap Rate 9%
$187,856
$187.9K
Market Conditions
NOI Build-Up for 530 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
$26.5K $50.04/SF
− Vacancy
−$4.0K −$7.51/SF
EGI
$22.5K $42.53/SF
− OpEx
−$5.6K −$10.63/SF
NOI
$16.9K $31.90/SF
Area
ZIP 33186
Vacancy
15.00%
Lease Rate
$50.04 /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%
$338,140
Cap Rate 7%
$241,529
Cap Rate 9%
$187,856
Alternative Uses
Best Use
Office B
$241.5K
$211.3K – $281.8K
NOI $16,907 @ 7.0% cap · market cap 5.93%
Second Best
Warehouse
$123.5K
$108.1K – $144.1K
NOI $8,646 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$289.4K
$253.2K – $337.7K
NOI $20,259 @ 7.0% cap · market cap 7.11%
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
883
Businesses Nearby
Under-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
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Frequently Asked Questions
What type of property is this?
Flex space - Functional flex unit with first-floor warehouse space, second-floor office under central A/C, plus restroom and parking.
Where is this flex space located?
The property is located at 137-13390 Sw 131st St Miami, FL.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 530 sq ft flex unit with first‑floor warehouse and second‑floor office; Entire unit under central A/C for year‑round comfort; 10 foot bay door for convenient loading and unloading
