Freestanding Industrial Warehouse in
For Sale
$1,425,000
2220 SW 60th Ter, Miramar, FL 33023
Industrial warehouse with fenced lot, suitable for various uses.
Property Size4,270 SF
Lot Size0.27 Acres
Days on Market269
Property Features for 2220 SW 60th Ter
General Information
Standard status
Active
Size
4,270 SF
Lot size
0.27 Acres
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$13,040
Building Details
Building Size
4,270 SF
Year Built
1967
Stories
1
Listing Agency:
RE/MAX 5 Star Realty
(954) 453-1000
Listed By:
John DeMarco · License #BK3134747
(954) 453-1000
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 9
Last Checked: Aug 23 at 10:08AM
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 RE/MAX 5 Star Realty
Investment Insights
Based on property information with market context.
This freestanding industrial warehouse is located in Miramar, providing accessibility to major routes including SR-441, the Turnpike, I-95, and I-75. The property includes a large fenced lot with outdoor storage and secure parking. The space is suitable for a variety of industrial or automotive uses as permitted by the City of Miramar. The property is currently 100% occupied under full-service gross leases. Unit A comprises 2,950 square feet plus an outdoor lot and is used for satellite equipment repairs and future food-related projects. Unit B provides 1,350 square feet and supports equipment storage and material distribution. The property generates a gross income of $108,864 and nets $87,505 annually, offering investors a 5.47% capitalization rate.
Key Highlights
- Freestanding industrial warehouse.
- Prime Miramar location with excellent accessibility to SR‑441, Turnpike, I‑95, and I‑75.
- Generates a gross annual income of $108,864 and a net annual income of $87,505, offering a 5.47% capitalization rate.
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
$58,857
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
4.13%
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%
$1,177,140
$1.2M
Cap Rate 7%
$840,814
$840.8K
Cap Rate 9%
$653,967
$654.0K
Market Conditions
NOI Build-Up for 4,270 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
$73.3K $17.16/SF
− Vacancy
−$4.0K −$0.94/SF
EGI
$69.2K $16.22/SF
− OpEx
−$10.4K −$2.43/SF
NOI
$58.9K $13.78/SF
Area
Miramar, FL
Vacancy
5.50%
Lease Rate
$17.16 /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%
$1,177,140
Cap Rate 7%
$840,814
Cap Rate 9%
$653,967
Alternative Uses
Best Use
Warehouse
$840.8K
$735.7K – $981.0K
NOI $58,857 @ 7.0% cap · market cap 4.13%
Second Best
Industrial
$692.4K
$605.9K – $807.8K
NOI $48,470 @ 7.0% cap · market cap 3.40%
Theoretical Best
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $139,100 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,954
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33023, FL
66,749
Population
22,450
Households
3
Avg Household Size
38
Median Age
20%
College-Educated
84%
High-School Grad
8.8 sq mi
ZIP Area
7,585
Density / Sq Mi
$70,003
Median Household Income
$35,093
Median Earnings
$1,621
Median Rent
$344,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse with fenced lot, suitable for various uses.
Where is this warehouse located?
The property is located at 2220 SW 60th Ter Miramar, FL.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: Freestanding industrial warehouse.; Prime Miramar location with excellent accessibility to SR‑441, Turnpike, I‑95, and I‑75.; Generates a gross annual income of $108,864 and a net annual income of $87,505, offering a 5.47% capitalization rate.
