Corner Flex-Space Condominium For
16155 SW 117th Ave # B1 Miami, FL 33177
For Sale
Contact for pricing
Pending
Two-story flex space with office and warehouse areas.
Property Size1,850 SF
Days on Market192
Property Features for 16155 SW 117th Ave # B1
General Information
Standard status
Pending
Size
1,850 SF
Property subtype
Industrial
Building Details
Year Built
1989
Listing Agency:
The Katsikos Group, Inc.
(305) 717-1880
Listed By:
Martha Rodriguez · License #0678410
Source:
Crexi
Added: Jan 16
Changed: Jul 6
Last Checked: Jul 26 at 12:30PM
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 The Katsikos Group, Inc.
Investment Insights
Based on property information with market context.
This corner two-story flex-space condominium, Unit #B1, offers a total of 1,850 square feet in excellent condition. Constructed in 1989, the CBS "Class B" building is located within the South Dade Business Centre Condominium. The layout includes 1,400 square feet of office space across the first and second floors, complemented by a 450-square-foot warehouse/storage area. The office area features carpet over slab flooring, acoustical ceiling tiles, and wood trimmings. The warehouse area has polished concrete floors. The unit includes two bathrooms and a 10x12 rear loading street-level door. It features a 16-foot clear ceiling height and is zoned I-UC, Industrial Conditional (Miami-Dade County), making it suitable for office, warehouse, flex, or light industrial use. Parking is available on a first-come, first-served basis, with guest parking also provided. Each unit is independently metered for electricity and water/sewer. Association approval is required, and the monthly association fee is $330.00.
Key Highlights
- 1,850 total sf corner two story flex‑space condominium.
- I‑UC, Industrial Conditional (Miami‑Dade County) zoning allows for office, warehouse, flex, or light industrial use.
- 450 sf of warehouse/storage area with 10X12 rear loading street level door and polished concrete floors.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $84.4k | $45.60 |
| − Vacancy | −$19.0k | −$10.26 |
| EGI | $65.4k | $35.34 |
| − OpEx | −$16.3k | −$8.84 |
| NOI | $49.0k | $26.51 |
1,850 SF · lease $45.60/SF/yr · vacancy 22.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$700.5K
$612.9K – $817.2K
NOI $49,034 @ 7.0% cap · market cap 6.88%
Second Best
Warehouse
$346.5K
$303.2K – $404.2K
NOI $24,252 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$938.6K
$821.3K – $1.10M
NOI $65,701 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Nets Girls Catering & Social Club — 14501 Jefferson St, Miami, FL 33176
- Boni's Paella Party — 16155 SW 117th Ave STE B8, Miami, FL 33177
- Delmar Paella — 11101 SW 161st St, Miami, FL 33157
Frequently Asked Questions
What type of property is this?
Flex space - Two-story flex space with office and warehouse areas.
Where is this flex space located?
The property is located at 16155 SW 117th Ave # B1 Miami, FL.
What is the asking price?
The asking price for this property is $712,250.
What are key features of this property?
This property features: 1,850 total sf corner two story flex‑space condominium.; I‑UC, Industrial Conditional (Miami‑Dade County) zoning allows for office, warehouse, flex, or light industrial use.; **450 sf of warehouse/storage area with 10X12 rear loading street level door and polished concrete floors.**
