Corner Warehouse Condo with
For Sale
$1,995,000
Pending
17-13275 Sw 136th St, Miami, FL 33168
Corner warehouse condo offers a bay door, 25' ceilings, and an adjoining air-conditioned office/retail shop.
Property Size6,121 SF
Days on Market315
Property Features for 17-13275 Sw 136th St
General Information
Standard status
Pending
Size
6,121 SF
Total Parking Spaces
5
Warehouse & Industrial
Clear Height
25 ft
Drive-In Doors
1
Heavy Power
Yes
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$15,487
Listing Agency:
BHHS EWM Realty
(305) 496-0901
Listed By:
Frank A Kissel · License #3164676
(305) 496-0901
Source:
Exprealty
Added: Oct 2, 2025
Changed: Aug 11
Last Checked: Aug 12 at 12:25PM
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 BHHS EWM Realty
Investment Insights
Based on property information with market context.
For sale is a corner warehouse condo designed for an owner-user or investor, with a warehouse area of 5,765 SF +/- clear. The space includes a bay door, 25' +/- ceilings, twin T construction, 3-phase electric service, and concrete floors. An adjoining 356 SF +/- office/retail shop is fully air-conditioned and features a separate customer entrance. The unit also includes 2 rest rooms.
Located at 17-13275 SW 136th St in Miami, the property is described as one block from Tamiami Airport and next to Amazon’s Distribution Center. The building parking lot provides 5 assigned parking spaces, along with additional guest parking. Light industrial/manufacturing is permitted, with access described to Florida’s Turnpike and 874 for travel throughout South Florida.
Located at 17-13275 SW 136th St in Miami, the property is described as one block from Tamiami Airport and next to Amazon’s Distribution Center. The building parking lot provides 5 assigned parking spaces, along with additional guest parking. Light industrial/manufacturing is permitted, with access described to Florida’s Turnpike and 874 for travel throughout South Florida.
Key Highlights
- 6,121 SF corner warehouse condo with light industrial/manufacturing permitted
- 5,765 SF +/- clear warehouse space with bay door and 25' +/- ceilings
- Warehouse includes 3‑phase electric and concrete floors
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
$175,596
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
8.80%
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%
$3,511,920
$3.5M
Cap Rate 7%
$2,508,514
$2.5M
Cap Rate 9%
$1,951,067
$2.0M
Market Conditions
NOI Build-Up for 6,121 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
$275.4K $45.00/SF
− Vacancy
−$41.3K −$6.75/SF
EGI
$234.1K $38.25/SF
− OpEx
−$58.5K −$9.56/SF
NOI
$175.6K $28.69/SF
Area
Miami, FL
Vacancy
15.00%
Lease Rate
$45.00 /SF/Yr
Expense Ratio
25.00%
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%
$3,511,920
Cap Rate 7%
$2,508,514
Cap Rate 9%
$1,951,067
Alternative Uses
Best Use
Office B
$2.51M
$2.19M – $2.93M
NOI $175,596 @ 7.0% cap · market cap 8.80%
Second Best
Warehouse
$1.43M
$1.25M – $1.66M
NOI $99,855 @ 7.0% cap · market cap 5.01%
Theoretical Best
Specialty Retail
$4.13M
$3.62M – $4.82M
NOI $289,220 @ 7.0% cap · market cap 14.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
25 ft
Clear height
1
Drive-in doors
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
832
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33168, FL
24,715
Population
6,761
Households
3.7
Avg Household Size
39
Median Age
16%
College-Educated
79%
High-School Grad
3.6 sq mi
ZIP Area
6,865
Density / Sq Mi
$58,636
Median Household Income
$31,984
Median Earnings
$1,576
Median Rent
$329,000
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Corner warehouse condo offers a bay door, 25' ceilings, and an adjoining air-conditioned office/retail shop.
Where is this flex space located?
The property is located at 17-13275 Sw 136th St Miami, FL.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 6,121 SF corner warehouse condo with light industrial/manufacturing permitted; 5,765 SF +/- clear warehouse space with bay door and 25' +/- ceilings; Warehouse includes 3‑phase electric and concrete floors
