Renovated Warehouse with
For Sale
$799,000
16300 SW 137th Avenue Unit 119, Miami, FL 33177
Modern build-out includes a bathroom and flexible open workspace for immediate business use.
Property Size2,481 SF
Price / SF$322.05
Days on Market90
Property Features for 16300 SW 137th Avenue Unit 119
General Information
Standard status
Active
Size
2,481 SF
Property subtype
Commercial
Lease Term
[]
Additional Details
Warehouse Space
2,481 SF
Building Details
Year Built
2007
Listing Agency:
One Sotheby's International Realty
(786) 566-8572
Listed By:
Jessica Fernandez · License #A11973403
(786) 566-8572
Source:
Onesothebysrealty
Added: Jun 3
Changed: Aug 30
Last Checked: Aug 30 at 5:48PM
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 One Sotheby's International Realty
Investment Insights
Based on property information with market context.
Unit 119 is a 2,481-square-foot warehouse with a fully renovated interior, open floor area, mezzanine space, and a bathroom. The clean, contemporary build-out provides a functional setting for an owner-user or business requiring occupancy without additional renovation work.
Constructed in 2007, the property is positioned near Tamiami Airport in Miami, Florida. Its combination of open warehouse area and mezzanine space supports flexible day-to-day operations within a compact commercial footprint.
Constructed in 2007, the property is positioned near Tamiami Airport in Miami, Florida. Its combination of open warehouse area and mezzanine space supports flexible day-to-day operations within a compact commercial footprint.
Key Highlights
- 2,481 SF warehouse space
- Fully renovated interior with modern build‑out
- Mezzanine area adds functional space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,524
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.07%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$650,480
$650.5K
Cap Rate 7%
$464,629
$464.6K
Cap Rate 9%
$361,378
$361.4K
Market Conditions
NOI Build-Up for 2,481 SF
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.
Gross rent
$40.5K $16.32/SF
− Vacancy
−$2.2K −$0.90/SF
EGI
$38.3K $15.42/SF
− OpEx
−$5.7K −$2.31/SF
NOI
$32.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$650,480
Cap Rate 7%
$464,629
Cap Rate 9%
$361,378
Alternative Uses
Best Use
Warehouse
$464.6K
$406.6K – $542.1K
NOI $32,524 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,110 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
404
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 Industrial in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Modern build-out includes a bathroom and flexible open workspace for immediate business use.
Where is this warehouse located?
The property is located at 16300 SW 137th Avenue Unit 119 Miami, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 2,481 SF warehouse space; Fully renovated interior with modern build‑out; Mezzanine area adds functional space
