Four Flex
For Sale
Contact for pricing
221 NE 67th St, Miami, FL 33138
Campus of four newly constructed flex warehouses totaling 29,500 SF, designed for end-users or investors.
Property Size29,500 SF
Price / SF$542.37
Days on Market52
Property Features for 221 NE 67th St
General Information
Standard status
Active
Size
29,500 SF
Property subtype
INDUSTRIAL
Additional Details
Road Access
Yes
Building Details
Buildings
4
Listing Agency:
Metro 1 Commercial
(305) 571-9991
Listed By:
Irene Dakota · License #3062153
(305) 972-8860
Source:
Moodyscre
Added: Jul 28
Changed: Sep 8
Last Checked: Sep 16 at 7:48PM
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 Commercial
Investment Insights
Based on property information with market context.
Located at the intersection of NE 2nd Avenue and 67th Street, this flex space campus includes four newly constructed flex warehouses. The buildings are described as state-of-the-art and developed with advanced construction quality and features.
The project is positioned as purpose-built for end-users or investors seeking durable industrial design. The warehouses are presented as “fully equipped,” supporting a range of practical flex-buyer needs within an industrial campus format.
With a total size of 29,500 SF, the property offers a modern, multi-building setup intended to provide both operational functionality and long-term durability as part of a purpose-designed industrial development.
The project is positioned as purpose-built for end-users or investors seeking durable industrial design. The warehouses are presented as “fully equipped,” supporting a range of practical flex-buyer needs within an industrial campus format.
With a total size of 29,500 SF, the property offers a modern, multi-building setup intended to provide both operational functionality and long-term durability as part of a purpose-designed industrial development.
Key Highlights
- Four newly constructed flex warehouses
- Total size 29,500 SF
- State‑of‑the‑art industrial project at NE 2nd Avenue and 67th Street
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
$481,247
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
3.01%
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%
$9,624,940
$9.6M
Cap Rate 7%
$6,874,957
$6.9M
Cap Rate 9%
$5,347,189
$5.3M
Market Conditions
NOI Build-Up for 29,500 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
$594.7K $20.16/SF
− Vacancy
−$28.5K −$0.97/SF
EGI
$566.2K $19.19/SF
− OpEx
−$84.9K −$2.88/SF
NOI
$481.2K $16.31/SF
Area
Miami, FL
Vacancy
4.80%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
15.00%
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%
$9,624,940
Cap Rate 7%
$6,874,957
Cap Rate 9%
$5,347,189
Alternative Uses
Best Use
Warehouse
$6.87M
$6.02M – $8.02M
NOI $481,247 @ 7.0% cap · market cap 3.01%
Second Best
Flex RnD
$6.18M
$5.41M – $7.21M
NOI $432,588 @ 7.0% cap · market cap 2.70%
Theoretical Best
Specialty Retail
$19.91M
$17.42M – $23.23M
NOI $1,393,888 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,201
Businesses Nearby
Well-served
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Miami, FL
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Frequently Asked Questions
What type of property is this?
Flex space - Campus of four newly constructed flex warehouses totaling 29,500 SF, designed for end-users or investors.
Where is this flex space located?
The property is located at 221 NE 67th St Miami, FL.
What is the asking price?
The asking price for this property is $16,000,000.
What are key features of this property?
This property features: Four newly constructed flex warehouses; Total size 29,500 SF; State‑of‑the‑art industrial project at NE 2nd Avenue and 67th Street
