Flex Space with
New
For Sale
$365,000
16215 SW 117th Ave 4, Miami, FL 33177
Office flooring and interior paint have been refreshed, and the bathroom has been renovated.
Property Size1,080 SF
Days on Market2
Property Features for 16215 SW 117th Ave 4
General Information
Standard status
Active
Size
1,080 SF
Property subtype
Industrial
Zoning
light manufacturing
Taxes and HOA fees
Annual Taxes
$3,029
Building Details
Building Size
1,080 SF
Year Built
2004
Listing Agency:
Florida Capital Realty
Listed By:
Christine Jaar · License #3128224
(305) 992-8999
Source:
Elliman
Added: Oct 7
Last Checked: Oct 7 at 2:12PM
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 Florida Capital Realty
Investment Insights
Based on property information with market context.
This flex property combines warehouse and office space, with one bathroom. The office has newly installed flooring, while fresh interior paint extends throughout the space. The bathroom has also been renovated. Built in 2004, the property is zoned for light manufacturing, and association approval is required.
Walk Score is 17, Bike Score is 32, and Transit Score is 32, indicating a car-dependent area with some bikeability and transit access.
Walk Score is 17, Bike Score is 32, and Transit Score is 32, indicating a car-dependent area with some bikeability and transit access.
Key Highlights
- Warehouse and office space in one property
- One bathroom
- New flooring in the office and fresh interior paint throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,158
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$283,160
$283.2K
Cap Rate 7%
$202,257
$202.3K
Cap Rate 9%
$157,311
$157.3K
Market Conditions
NOI Build-Up for 1,080 SF
Gross rent
$17.6K $16.32/SF
− Vacancy
−$969 −$0.90/SF
EGI
$16.7K $15.42/SF
− OpEx
−$2.5K −$2.31/SF
NOI
$14.2K $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%
$283,160
Cap Rate 7%
$202,257
Cap Rate 9%
$157,311
Alternative Uses
Best Use
Warehouse
$202.3K
$177.0K – $236.0K
NOI $14,158 @ 7.0% cap · market cap 3.88%
Second Best
Flex RnD
$181.0K
$158.4K – $211.2K
NOI $12,670 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$547.9K
$479.4K – $639.3K
NOI $38,355 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Miami, FL
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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 - Office flooring and interior paint have been refreshed, and the bathroom has been renovated.
Where is this flex space located?
The property is located at 16215 SW 117th Ave 4 Miami, FL.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Warehouse and office space in one property; One bathroom; New flooring in the office and fresh interior paint throughout
