221 NE 67th St 2, Miami, FL 33138

Building Details

Building Size 7,845 SF More

Year Built 2023 More

Stories 2 More

Listing Agency: Metro 1

Listed By: Irene Dakota · License FL #3062153 Show Phone

Source: Elliman

Added: Mar 11 Changed: Aug 15 Last Checked: Aug 7 at 5:24AM

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Investment Insights

Based on property information with market context.

This new construction warehouse at 221 NE 67 St offers 7845 square feet of space with 30 ft ceilings, full AC, and a backup generator. In addition to storage, the warehouse provides a workspace solution, including an 1800 sq ft office, mop sink area, shower, three bathrooms, an elevator to the second floor, and a kitchenette. The property is suitable for various uses, from storage and e-commerce to content creation and car collections. This warehouse is located in a 4-unit condominium campus.

Key Highlights

• 7845 sq ft new construction warehouse space
• Benefit from 30 ft ceilings.
• 1800 sq ft office space included.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$225,053

Cap Rate

5.10%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,501,060 $4.5M

Cap Rate 7%

$3,215,043 $3.2M

Cap Rate 9%

$2,500,589 $2.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,845 SF

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 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 (±1% cap)

NOI $225,053 @ 7.0% cap · market cap 5.10%

Second Best

Warehouse

$1.83M

$1.60M – $2.13M (±1% cap)

NOI $127,979 @ 7.0% cap · market cap 2.90%

Theoretical Best

Specialty Retail

$5.30M

$4.63M – $6.18M (±1% cap)

NOI $370,680 @ 7.0% cap · market cap 8.40%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

ADIN ROSS KICKHOUSE Resort

Suggested Use

Top Pick Dental Office Law Firm Electrical Service Auto Parts Store (Bike/Boat/Book/etc) Store Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,201

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

Average Price Trend$/SF for Warehouses in Miami, FL

$316 Jul

$325 Aug

$300 Sep

$306 Oct

Properties on Market for Warehouses in Miami

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in Miami, FL

12.4% 2019

16.3% 2020

17% 2021

16.1% 2022

15% 2023

16.1% 2024

15.2% 2025

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Similar Off Market Nearby

• StonePeak Storage — 5341 Northwest 7th Avenue, Coral Wy, Miami, FL 33145
• Self-Storage at U-Haul — 5341 NW 7th Ave, Miami, FL 33127, United States
• Top Notch Movers & Delivery — 156 nw 54th st unit 123, miami, fl 33127
• New Horizon — 43 NE 54th St, Miami, FL 33137
• Public Storage — 5609 NE 2nd Ave, Miami, FL 33137, United States

Frequently Asked Questions

What type of property is this?

Warehouse - New construction warehouse with office, full AC, and backup generator.

Where is this warehouse located?

The property is located at 221 NE 67th St 2 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: 7845 sq ft new construction warehouse space; Benefit from **30 ft ceilings.**; 1800 sq ft office space included.