Flex Space with
For Sale
$1,350,000
1929 NW 108th Ave, Sweetwater, FL 33172
Commercial Sale, Sweetwater, FL
Property Size3,523 SF
Lot Size0.08 Acres
Price / SF$383.20
Days on Market70
Property Features for 1929 NW 108th Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
7100
Parking
4
Parking features
Assigned, Guest
Subdivision
30
Standard status
Active
APN
25-30-31-037-0080
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
JMAR INDUSTRIAL PARK I CONDO UNIT 1929 UNDIV 17.55% INT IN COMMON ELEMENTS OFF REC 23676-0439 COC 25323-3617 01 2007 4 F/A/U 3030310370080
HOA Fee
$597 Monthly
Legal Description
JMAR INDUSTRIAL PARK I CONDO UNIT 1929 UNDIV 17.55% INT IN COMMON ELEMENTS OFF REC 23676-0439 COC 25323-3617 01 2007 4 F/A/U 3030310370080
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
street loading door
21 ft ceiling height
separated office space
kitchen area
half bathroom
mezzanine area
Building Details
Year built
2004
Listing Agency:
Fortune Christie's Intl R.E.
(305) 856-2600
Listed By:
Patricia Paris · License #3157885
(786) 712-3654
Added: Jun 30
Changed: Sep 2
Last Checked: Sep 7 at 12:06PM
MLS# A12033324
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex space is configured with 3,523 square feet, including 1,200 square feet of office area and 2,323 square feet of warehouse space. The layout includes separated offices, a kitchen, half bathroom, street loading door, 21 ft clearing ceiling height, and an additional mezzanine area. Central air and electric heating are provided, with public water and sewer service.
The property is part of a 9 Units Light industrial Condominium and offers access to assigned and guest parking. It is positioned between Dolphin and International Mall, with access to the Dolphin Expressway and Turnpike, and is close to the airport.
The property is part of a 9 Units Light industrial Condominium and offers access to assigned and guest parking. It is positioned between Dolphin and International Mall, with access to the Dolphin Expressway and Turnpike, and is close to the airport.
Key Highlights
- 3,523 sq/ft total: 1,200 office and 2,323 warehouse
- 21 ft clearing ceiling height
- Street loading door and additional mezzanine area
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
$93,377
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
6.92%
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%
$1,867,540
$1.9M
Cap Rate 7%
$1,333,957
$1.3M
Cap Rate 9%
$1,037,522
$1.0M
Market Conditions
NOI Build-Up for 3,523 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
$160.6K $45.60/SF
− Vacancy
−$36.1K −$10.26/SF
EGI
$124.5K $35.34/SF
− OpEx
−$31.1K −$8.84/SF
NOI
$93.4K $26.51/SF
Area
Miami-Dade County, FL
Vacancy
22.50%
Lease Rate
$45.60 /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%
$1,867,540
Cap Rate 7%
$1,333,957
Cap Rate 9%
$1,037,522
Alternative Uses
Best Use
Office B
$1.33M
$1.17M – $1.56M
NOI $93,377 @ 7.0% cap · market cap 6.92%
Second Best
Flex RnD
$1.11M
$968.7K – $1.29M
NOI $77,492 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$1.79M
$1.56M – $2.09M
NOI $125,116 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
21 ft
Clear height
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,883
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33172, FL
43,911
Population
16,103
Households
2.7
Avg Household Size
42
Median Age
32%
College-Educated
75%
High-School Grad
6.4 sq mi
ZIP Area
6,861
Density / Sq Mi
$61,733
Median Household Income
$35,061
Median Earnings
$1,926
Median Rent
$260,200
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 - Light industrial condominium unit with a loading door, dedicated office area, kitchen, and half bathroom.
Where is this flex space located?
The property is located at 1929 NW 108th Ave Sweetwater, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 3,523 sq/ft total: 1,200 office and 2,323 warehouse; 21 ft clearing ceiling height; Street loading door and additional mezzanine area
