Flex Condominium with Grade-Level
For Sale
$1,500,000
16155 Sw 117th Ave B20, Miami, FL 33177
A two-story unit combines office and warehouse areas within a larger business park.
Property Size4,100 SF
Price / SF$365.85
Days on Market10
Property Features for 16155 Sw 117th Ave B20
General Information
Standard status
Active
Size
4,100 SF
Zoning
7700
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
1
Three-Phase Power
Yes
Additional Details
Highway Access
Yes
Property Use
Office/Flex
Amenities
2
Common
4100
1
Building Details
Building Size
4,100 SF
Year Built
1989
Stories
2
Listing Agency:
(786) 648-8799
Listed By:
Isabella Quinones
Source:
Iqrealestatellc
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 3:33PM
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 Isabella Quinones
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Investment Insights
Based on property information with market context.
This 1989 flex condominium is a single unit in a two-story building, with office and warehouse areas. A glass entry door serves the front, while a large overhead door at the rear provides grade-level loading. The warehouse area has 18-foot clear ceilings and 3-phase electrical service.
The unit is located at 16155 SW 117th Ave in Unincorporated Dade, within South Dade Business Center. The property is just off the Turnpike and near Miami Executive Airport. Parking is available in front of the units and across the business park.
The unit is located at 16155 SW 117th Ave in Unincorporated Dade, within South Dade Business Center. The property is just off the Turnpike and near Miami Executive Airport. Parking is available in front of the units and across the business park.
Key Highlights
- 18‑foot clear ceilings in the warehouse area
- Rear grade‑level loading door
- 3‑phase electrical service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,747
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,074,940
$1.1M
Cap Rate 7%
$767,814
$767.8K
Cap Rate 9%
$597,189
$597.2K
Market Conditions
NOI Build-Up for 4,100 SF
Gross rent
$66.9K $16.32/SF
− Vacancy
−$3.7K −$0.90/SF
EGI
$63.2K $15.42/SF
− OpEx
−$9.5K −$2.31/SF
NOI
$53.7K $13.11/SF
Area
ZIP 33177
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 Rate 5%
$1,074,940
Cap Rate 7%
$767,814
Cap Rate 9%
$597,189
Alternative Uses
Best Use
Warehouse
$767.8K
$671.8K – $895.8K
NOI $53,747 @ 7.0% cap · market cap 3.58%
Second Best
Flex RnD
$687.1K
$601.2K – $801.6K
NOI $48,098 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,607 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
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Current Use
Lease Details
18 ft
Clear height
1
Drive-in doors
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Miami, FL
Similar Off Market Nearby
- Boni's Paella Party — 16155 SW 117th Ave STE B8, Miami, FL 33177
- Delmar Paella — 11101 SW 161st St, Miami, FL 33157
- Nets Girls Catering & Social Club — 14501 Jefferson St, Miami, FL 33176
Frequently Asked Questions
What type of property is this?
Flex space - A two-story unit combines office and warehouse areas within a larger business park.
Where is this flex space located?
The property is located at 16155 Sw 117th Ave B20 Miami, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 18‑foot clear ceilings in the warehouse area; Rear grade‑level loading door; 3‑phase electrical service
