Warehouse Condo with Oversized
New
For Sale
$950,000
1770 SE 38 Avenue #3, Homestead, FL 33035
Climate-controlled space includes a private bathroom with shower and access to a motorhome waste station.
Property Size70,392 SF
Price / SF$359.85
Days on Market4
Property Features for 1770 SE 38 Avenue #3
General Information
Standard status
Active
Size
70,392 SF
Zoning
OTH - Key Colony Other Zoning
Warehouse & Industrial
Clear Height
20 ft
Warehouse Space
2,640 SF
Drive-In Doors
1
Sprinkler System
Yes
Conditioned Warehouse
Yes
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$5,834
Amenities
Private bathroom with shower
Exterior cameras
Motorhome waste station on site
Building Details
Building Size
70,392 SF
Year Built
2024
Stories
1
Listing Agency:
Ocean Sotheby's International Realty
Listed By:
Eric Rizzo · License #3347022
(305) 394-3062
Source:
Laerrealty
Added: Oct 4
Last Checked: Oct 7 at 9:20AM
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 Ocean Sotheby's International Realty
Investment Insights
Based on property information with market context.
Completed in 2024, this 2,640-square-foot warehouse condo offers 20-foot ceilings and a 14-by-14-foot hurricane-rated garage door. The unit has full air conditioning, a private bathroom with shower, and a fire sprinkler system. Its open interior can accommodate a range of storage, hobby, or business uses.
The property is gated with keypad entry and has exterior cameras. An on-site motorhome waste station adds a dedicated service feature. Homestead Miami Speedway is nearly directly across from the property.
The property is gated with keypad entry and has exterior cameras. An on-site motorhome waste station adds a dedicated service feature. Homestead Miami Speedway is nearly directly across from the property.
Key Highlights
- 2,640‑square‑foot warehouse condo built in 2024
- 20‑foot ceilings and a 14‑by‑14‑foot hurricane‑rated garage door
- Full air conditioning, private bathroom with shower, and fire sprinkler system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,608
Cap Rate
3.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$692,160
$692.2K
Cap Rate 7%
$494,400
$494.4K
Cap Rate 9%
$384,533
$384.5K
Market Conditions
NOI Build-Up for 2,640 SF
Gross rent
$43.1K $16.32/SF
− Vacancy
−$2.4K −$0.90/SF
EGI
$40.7K $15.42/SF
− OpEx
−$6.1K −$2.31/SF
NOI
$34.6K $13.11/SF
Area
Miami-Dade County, FL
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%
$692,160
Cap Rate 7%
$494,400
Cap Rate 9%
$384,533
Alternative Uses
Best Use
Warehouse
$494.4K
$432.6K – $576.8K
NOI $34,608 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,757 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
1
Drive-in doors
Yes
Sprinkler system
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33035, FL
18,065
Population
6,711
Households
2.7
Avg Household Size
33
Median Age
28%
College-Educated
92%
High-School Grad
29.5 sq mi
ZIP Area
612
Density / Sq Mi
$67,601
Median Household Income
$37,785
Median Earnings
$1,855
Median Rent
$310,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Climate-controlled space includes a private bathroom with shower and access to a motorhome waste station.
Where is this warehouse located?
The property is located at 1770 SE 38 Avenue #3 Homestead, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 2,640‑square‑foot warehouse condo built in 2024; 20‑foot ceilings and a 14‑by‑14‑foot hurricane‑rated garage door; Full air conditioning, private bathroom with shower, and fire sprinkler system
