Industrial Warehouses Zoned Automotive
For Sale
Contact for pricing
2 #2 8 9 12, Miami, FL 33186
Four industrial warehouses totaling 3148 SF, zoned for automotive.
Property Size3,148 SF
Price / SF$460.61
Days on Market196
Property Features for 2 #2 8 9 12
General Information
Standard status
Active
Size
3,148 SF
Total Parking Spaces
20
Property subtype
Industrial, Retail
Zoning
7700
Building Details
Year Built
1986
Buildings
4
Listing Agency:
Real Estate Empire Group, Inc.
(786) 616-0060
Listed By:
Theresa Gonzalez · License #0334364
Source:
Crexi
Added: Jan 28
Changed: Aug 8
Last Checked: Aug 8 at 6:21AM
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 Real Estate Empire Group, Inc.
Investment Insights
Based on property information with market context.
Four industrial warehouses, totaling 3148 square feet, are zoned for automotive use. The combined units #2, 8, 9, & 12, currently operating as a body shop business, can be purchased with or without the business. These units have access to both sides of the building and contain a Garmat Paint Booth, plus 4 compressors, and all essential equipment for the business, except for unit #2 which is separate. Each unit has 5 designated parking spaces, security gate and 12' high ceilings and rollup loading doors. The association dues are $120 per month. The property offers easy access to SR 874 and Florida Turnpike entrances.
Key Highlights
- Four combined industrial warehouses totaling 3148SF, suitable for automotive use.
- Includes a Garmat Paint Booth and 4 compressors.
- Easy access to SR 874 and Florida Turnpike.
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
$75,785
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
5.23%
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%
$1,515,700
$1.5M
Cap Rate 7%
$1,082,643
$1.1M
Cap Rate 9%
$842,056
$842.1K
Market Conditions
NOI Build-Up for 3,148 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
$129.2K $41.04/SF
− Vacancy
−$20.9K −$6.65/SF
EGI
$108.3K $34.39/SF
− OpEx
−$32.5K −$10.32/SF
NOI
$75.8K $24.07/SF
Area
ZIP 33186
Vacancy
16.20%
Lease Rate
$41.04 /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%
$1,515,700
Cap Rate 7%
$1,082,643
Cap Rate 9%
$842,056
Alternative Uses
Best Use
Retail
$1.08M
$947.3K – $1.26M
NOI $75,785 @ 7.0% cap · market cap 5.23%
Second Best
Warehouse
$733.6K
$641.9K – $855.9K
NOI $51,355 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$1.72M
$1.50M – $2.01M
NOI $120,333 @ 7.0% cap · market cap 8.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,051
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33186, FL
69,866
Population
24,397
Households
2.9
Avg Household Size
42
Median Age
36%
College-Educated
91%
High-School Grad
12.4 sq mi
ZIP Area
5,634
Density / Sq Mi
$86,481
Median Household Income
$46,755
Median Earnings
$2,021
Median Rent
$422,300
Median Home Value
Market
Vacancy Rate% for Industrial in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Four industrial warehouses totaling 3148 SF, zoned for automotive.
Where is this auto shop located?
The property is located at 2 #2 8 9 12 Miami, FL.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Four combined industrial warehouses totaling 3148SF, suitable for automotive use.; Includes a **Garmat Paint Booth and 4 compressors.**; Easy access to SR 874 and Florida Turnpike.
