Flex Space with
For Sale
$249,000
17304 Walker Ave 113, Miami, FL 33157
Warehouse space combines office and showroom areas with a bay door, dedicated entry, parking, and updated interior finishes.
Property Size501 SF
Price / SF$497.01
Days on Market12
Property Features for 17304 Walker Ave 113
General Information
Standard status
Active
Size
501 SF
Additional Details
Highway Access
Yes
Amenities
Great AC unit
freshly painted walls
updated interior lighting
high ceilings
bay door
separate front door
parking
Building Details
Year Built
1998
Listing Agency:
Coldwell Banker Realty
Listed By:
Liza Dieppa · License #3285936
(786) 712-2113
Source:
Thepennteam
Added: Sep 9
Changed: Sep 18
Last Checked: Sep 20 at 11:29AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 501-square-foot flex property combines warehouse space with office and showroom areas. The unit includes high ceilings, a bay door, a separate front entrance, parking, air conditioning, refreshed wall finishes, and updated interior lighting. Built in 1998, the property is positioned for immediate occupancy.
The unit is located at 17304 Walker Ave 113 in Miami, near US1 and within the Cutler Bay/Palmetto Bay area. Its combination of work, display, and office space supports a range of commercial uses requiring both functional storage and a customer-facing component.
The unit is located at 17304 Walker Ave 113 in Miami, near US1 and within the Cutler Bay/Palmetto Bay area. Its combination of work, display, and office space supports a range of commercial uses requiring both functional storage and a customer-facing component.
Key Highlights
- 501 SF flex space with warehouse, office, and showroom areas
- High ceilings and bay door
- Separate front entrance and on‑site parking
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
$8,759
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
3.52%
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%
$175,180
$175.2K
Cap Rate 7%
$125,129
$125.1K
Cap Rate 9%
$97,322
$97.3K
Market Conditions
NOI Build-Up for 501 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
$13.5K $27.00/SF
− Vacancy
−$1.0K −$2.03/SF
EGI
$12.5K $24.98/SF
− OpEx
−$3.8K −$7.49/SF
NOI
$8.8K $17.48/SF
Area
ZIP 33157
Vacancy
7.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$175,180
Cap Rate 7%
$125,129
Cap Rate 9%
$97,322
Alternative Uses
Best Use
Retail
$125.1K
$109.5K – $146.0K
NOI $8,759 @ 7.0% cap · market cap 3.52%
Second Best
Flex RnD
$114.2K
$99.9K – $133.3K
NOI $7,995 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$254.2K
$222.4K – $296.5K
NOI $17,792 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,156
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33157, FL
68,069
Population
23,176
Households
2.9
Avg Household Size
42
Median Age
33%
College-Educated
86%
High-School Grad
14.9 sq mi
ZIP Area
4,568
Density / Sq Mi
$80,364
Median Household Income
$38,803
Median Earnings
$1,493
Median Rent
$478,300
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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Frequently Asked Questions
What type of property is this?
Flex space - Warehouse space combines office and showroom areas with a bay door, dedicated entry, parking, and updated interior finishes.
Where is this flex space located?
The property is located at 17304 Walker Ave 113 Miami, FL.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 501 SF flex space with warehouse, office, and showroom areas; High ceilings and bay door; Separate front entrance and on‑site parking
