Air-Conditioned Warehouse with
For Sale
$4,415,400
210 NE 68th Street #1, Miami, FL 33138
New construction provides a dedicated office, backup power, and a complete range of workplace amenities.
Property Size7,819 SF
Price / SF$562.83
Days on Market56
Property Features for 210 NE 68th Street #1
General Information
Standard status
Active
Size
7,819 SF
Elevators
Yes
Zoning
7700
Warehouse & Industrial
Clear Height
30 ft
Office Build-Out
1,800 SF
Conditioned Warehouse
Yes
Taxes and HOA fees
Annual Taxes
$38,078
Amenities
Full AC
Backup generator
Mop sink area
Shower
Elevator
Kitchenette
Building Details
Building Size
7,819 SF
Year Built
2023
Listing Agency:
Metro 1
(305) 972-8860
Listed By:
Irene G Dakota · License #3062153
(305) 972-8860
Source:
Laerrealty
Added: Jul 6
Changed: Aug 29
Last Checked: Aug 29 at 6:06PM
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 Metro 1
Investment Insights
Based on property information with market context.
Completed in 2023, this warehouse offers 7,845 square feet with 30-foot ceilings, full air conditioning, and a backup generator. The improved layout includes an 1,800-square-foot office, mop sink area, shower, three bathrooms, kitchenette, and elevator access to the second floor.
The property is part of a four-unit condominium campus at 210 NE 68th Street, #1, in Miami, Florida. Its configuration supports a range of operational possibilities identified for the space, including storage, e-commerce, content creation, and vehicle collections. Zoning is designated as 7700.
The property is part of a four-unit condominium campus at 210 NE 68th Street, #1, in Miami, Florida. Its configuration supports a range of operational possibilities identified for the space, including storage, e-commerce, content creation, and vehicle collections. Zoning is designated as 7700.
Key Highlights
- 7,845‑square‑foot warehouse completed in 2023
- 30‑foot ceilings with full air conditioning
- 1,800‑square‑foot office with kitchenette
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
$225,053
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
5.10%
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%
$4,501,060
$4.5M
Cap Rate 7%
$3,215,043
$3.2M
Cap Rate 9%
$2,500,589
$2.5M
Market Conditions
NOI Build-Up for 7,845 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
$353.0K $45.00/SF
− Vacancy
−$53.0K −$6.75/SF
EGI
$300.1K $38.25/SF
− OpEx
−$75.0K −$9.56/SF
NOI
$225.1K $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%
$4,501,060
Cap Rate 7%
$3,215,043
Cap Rate 9%
$2,500,589
Alternative Uses
Best Use
Office B
$3.22M
$2.81M – $3.75M
NOI $225,053 @ 7.0% cap · market cap 5.10%
Second Best
Warehouse
$1.83M
$1.60M – $2.13M
NOI $127,979 @ 7.0% cap · market cap 2.90%
Theoretical Best
Specialty Retail
$5.30M
$4.63M – $6.18M
NOI $370,680 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
30 ft
Clear height
Location Intelligence
Trade Area within ½ mile
2,519
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33138, FL
27,601
Population
14,310
Households
1.9
Avg Household Size
43
Median Age
47%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
6,572
Density / Sq Mi
$71,518
Median Household Income
$52,853
Median Earnings
$1,647
Median Rent
$686,300
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Public Storage — 5609 NE 2nd Ave, Miami, FL 33137, United States
- Jones Moving & Storage — 296 NE 62nd St, Miami, FL 33138
- Nannybag Luggage Storage — 6815 Biscayne Blvd, Miami, FL 33138
- Classic Motors — 90 nw 72nd st #102, miami, fl 33150
- Hagerty Garage + Social — 355 NE 71st St, Miami, FL 33138
Frequently Asked Questions
What type of property is this?
Warehouse - New construction provides a dedicated office, backup power, and a complete range of workplace amenities.
Where is this warehouse located?
The property is located at 210 NE 68th Street #1 Miami, FL.
What is the asking price?
The asking price for this property is $4,415,400.
What are key features of this property?
This property features: 7,845‑square‑foot warehouse completed in 2023; 30‑foot ceilings with full air conditioning; 1,800‑square‑foot office with kitchenette
