Flex Condominium with Grade-Level
For Sale
$1,500,000
16155 SW 117th Avenue #B20, Miami, FL 33177
Two-story configuration combines office and warehouse areas, with a rear overhead door and parking throughout the business park.
Property Size4,100 SF
Price / SF$365.85
Days on Market30
Property Features for 16155 SW 117th Avenue #B20
General Information
Standard status
Active
Size
4,100 SF
Property subtype
Mixed Use
Zoning
I-UC
Warehouse & Industrial
Clear Height
18 ft
Three-Phase Power
Yes
Additional Details
Highway Access
Yes
Building Details
Year Built
1989
Stories
2
Listing Agency:
Fairchild Partners, Inc.
(305) 668-0620
Listed By:
Floriberto Antonio Puente · License #0489246
(305) 606-2097
Source:
Lehmannflorida
Added: Sep 21
Changed: Oct 19
Last Checked: Oct 19 at 2:30PM
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 Fairchild Partners, Inc.
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Investment Insights
Based on property information with market context.
This two-story flex condominium combines office and warehouse space in a center-line unit within South Dade Business Center. The unit has a glass entry door and a rear, street-level overhead door. Warehouse areas offer 18-foot clear ceilings, grade-level loading, and 3-phase electrical service. The property was built in 1989 and is zoned I-UC, Industrial Conditional, in Miami-Dade County.
Located at 16155 SW 117th Avenue, the property is just off the Turnpike and close to Miami Executive Airport. Parking is available in front of the units and throughout the business park.
Located at 16155 SW 117th Avenue, the property is just off the Turnpike and close to Miami Executive Airport. Parking is available in front of the units and throughout the business park.
Key Highlights
- 18‑foot clear ceilings in warehouse areas
- Grade‑level loading through a rear street‑level overhead 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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Current Use
Lease Details
18 ft
Clear height
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 - Two-story configuration combines office and warehouse areas, with a rear overhead door and parking throughout the business park.
Where is this flex space located?
The property is located at 16155 SW 117th Avenue #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 warehouse areas; Grade‑level loading through a rear street‑level overhead door; 3‑phase electrical service
