Building Details

Year built 1989

Listing Agency: Compass Florida, LLC b***@compass.com Show Phone

Listed By: Jorge Lopez · License #3247936 Show Phone

Added: Jul 26 Changed: Oct 10 Last Checked: Oct 25 at 2:06PM

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MLS# A11921205

Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

This two-story flex space contains 3,050 square feet arranged for combined office and warehouse use. The ground floor includes a reception area, glass conference room, two bathrooms, lunchroom, three additional offices, and warehouse space with rear access for loading. Natural light enters the main interior areas.

The upper level adds a sitting room, three offices, and a larger open area. Altogether, the property provides nine office areas. Parking includes two assigned spaces along with additional guest parking.

Located at 16155 SW 117th Ave in Miami, the property is near the FL Turnpike, other major highways, and Tamiami Executive Airport. Built in 1989, it offers a dedicated combination of workspace, office rooms, and back-of-building warehouse access.

Key Highlights

• 3,050 sqft two‑story flex space
• Nine office areas across two floors
• Rear warehouse access designed for loading

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$80,840

Cap Rate

6.76%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,616,800 $1.6M

Cap Rate 7%

$1,154,857 $1.2M

Cap Rate 9%

$898,222 $898.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,050 SF

Gross rent

$139.1K $45.60/SF

− Vacancy

−$31.3K −$10.26/SF

EGI

$107.8K $35.34/SF

− OpEx

−$26.9K −$8.84/SF

NOI

$80.8K $26.51/SF

Area

ZIP 33177

Vacancy

22.50%

Lease Rate

$45.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,616,800

Cap Rate 7%

$1,154,857

Cap Rate 9%

$898,222

Alternative Uses

Best Use

Office B

$1.15M

$1.01M – $1.35M (±1% cap)

NOI $80,840 @ 7.0% cap · market cap 6.76%

Second Best

Warehouse

$571.2K

$499.8K – $666.4K (±1% cap)

NOI $39,983 @ 7.0% cap · market cap 3.35%

Theoretical Best

Office A

$1.55M

$1.35M – $1.81M (±1% cap)

NOI $108,318 @ 7.0% cap · market cap 9.06%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

MS Technik Egineering ... Industrial Manufacturer Cooling Engineering Group ... Engineering Consultant M & S Construction Company The Cookie Bandit (Bike/Boat/Book/etc) Store Andar International Medical Supply Store

Suggested Use

Top Pick Real Estate Agency Restaurant Dental Office Law Firm Building Supply Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

530

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 33177, FL

56,331

Population

17,124

Households

3.3

Avg Household Size

41

Median Age

23%

College-Educated

84%

High-School Grad

12.6 sq mi

ZIP Area

4,471

Density / Sq Mi

$77,297

Median Household Income

$36,347

Median Earnings

$2,080

Median Rent

$399,000

Median Home Value

Market

Vacancy Rate% for Office in Miami, FL

12.4% 2019

16.3% 2020

17% 2021

16.1% 2022

15% 2023

16.1% 2024

15.2% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Office and warehouse components support varied commercial operations.

Where is this flex space located?

The property is located at 16155 SW 117th Ave Miami, FL.

What is the asking price?

The asking price for this property is $1,195,000.

What are key features of this property?

This property features: 3,050 sqft two‑story flex space; Nine office areas across two floors; Rear warehouse access designed for loading