Updated Flex Space with Heavy
For Sale
$6,000,000
17890 Nw 29th Ct Miami Gardens, Opa Locka, FL 33056
Updated commercial space combines warehouse functionality with dedicated offices and secured outdoor areas.
Property Size10,750 SF
Price / SF$558.14
Days on Market62
Property Features for 17890 Nw 29th Ct Miami Gardens
General Information
Standard status
Active
Size
10,750 SF
Zoning
6800
Site & Location
Highway Access
Yes
Road Access
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
16 ft
Power
600 amps
Three-Phase Power
Yes
Heavy Power
Yes
Taxes and HOA fees
Annual Taxes
$36,455
Amenities
conference area
break room with full kitchen
Building Details
Building Size
10,750 SF
Year Built
1954
Buildings
1
Construction
concrete block
Listing Agency:
(904) 447-1321
Listed By:
Mark Blackstone
(904) 447-1321
Source:
Yourfhrm
Added: Jun 30
Changed: Aug 29
Last Checked: Aug 29 at 9:56PM
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 Mark Blackstone
Investment Insights
Based on property information with market context.
This 10,750-square-foot flex facility, originally built in 1954, combines a concrete block structure with a concrete slab foundation, impact windows, zoned air conditioning, and substantial updates. The building completed its 40 Year Certification in 2017 and includes three roll-up doors with 14-foot clearance, 16-foot clear heights, and a three-phase 600-amp electrical system. Interior improvements include three private offices, a conference area, open bullpen space, a soundproofed warehouse-level office, six bathrooms, and a break room with a full kitchen. The upstairs office also includes a full bathroom with a shower.
The property at 17890 NW 29th Court is situated in Miami Gardens within a residential setting near Miami Gardens Drive. Access is available to the Florida Turnpike, I-95, the Palmetto Expressway, and the Golden Glades Interchange. Exterior improvements include parking, a secured yard, lighting, and additional secured outdoor storage.
The property at 17890 NW 29th Court is situated in Miami Gardens within a residential setting near Miami Gardens Drive. Access is available to the Florida Turnpike, I-95, the Palmetto Expressway, and the Golden Glades Interchange. Exterior improvements include parking, a secured yard, lighting, and additional secured outdoor storage.
Key Highlights
- 10,750‑square‑foot flex facility on 17890 NW 29th Court
- Three‑phase 600‑amp electrical service for heavy‑power operations
- Three roll‑up overhead doors with 14‑foot clearance and 16‑foot clear heights
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
$308,391
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
5.14%
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%
$6,167,820
$6.2M
Cap Rate 7%
$4,405,586
$4.4M
Cap Rate 9%
$3,426,567
$3.4M
Market Conditions
NOI Build-Up for 10,750 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
$483.8K $45.00/SF
− Vacancy
−$72.6K −$6.75/SF
EGI
$411.2K $38.25/SF
− OpEx
−$102.8K −$9.56/SF
NOI
$308.4K $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%
$6,167,820
Cap Rate 7%
$4,405,586
Cap Rate 9%
$3,426,567
Alternative Uses
Best Use
Office B
$4.41M
$3.85M – $5.14M
NOI $308,391 @ 7.0% cap · market cap 5.14%
Second Best
Warehouse
$2.51M
$2.19M – $2.92M
NOI $175,370 @ 7.0% cap · market cap 2.92%
Theoretical Best
Specialty Retail
$7.26M
$6.35M – $8.47M
NOI $507,942 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16 ft
Clear height
Yes
Heavy power
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
962
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33056, FL
36,556
Population
12,155
Households
3
Avg Household Size
37
Median Age
18%
College-Educated
84%
High-School Grad
6.1 sq mi
ZIP Area
5,993
Density / Sq Mi
$62,255
Median Household Income
$33,179
Median Earnings
$1,659
Median Rent
$332,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Updated commercial space combines warehouse functionality with dedicated offices and secured outdoor areas.
Where is this flex space located?
The property is located at 17890 Nw 29th Ct Miami Gardens Opa Locka, FL.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: 10,750‑square‑foot flex facility on 17890 NW 29th Court; Three‑phase 600‑amp electrical service for heavy‑power operations; Three roll‑up overhead doors with 14‑foot clearance and 16‑foot clear heights
