Flex Space Industrial Condo with Roll-Up
For Sale
Contact for pricing
224 NW 9th Ave, Homestead, FL 33030
Industrial flex condo built in 2005 with a 12x14 roll-up door and zoning for commercial light manufacturing.
Property Size1,409 SF
Price / SF$273.24
Days on Market58
Property Features for 224 NW 9th Ave
General Information
Standard status
Active
Size
1,409 SF
Property subtype
INDUSTRIAL
Zoning
6600 Commercial light manufacturing (LU4118)
Additional Details
Opportunity Zone
Yes
Highway Access
Yes
Building Details
Year Built
2005
Construction
reinforced concrete
Listing Agency:
CENTURY 21 Global Connections Realty
(954) 284-3400
Listed By:
Jacqueline Lazo · License #3112232
(786) 218-4602
Source:
Moodyscre
Added: Jul 21
Changed: Sep 2
Last Checked: Sep 15 at 7:45AM
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 CENTURY 21 Global Connections Realty
Investment Insights
Based on property information with market context.
This 1,409 SF industrial flex condo was built in 2005 with reinforced concrete construction to post Andrew and Miami Dade standards. The unit includes a private office, a restroom, and parking, along with a 12x14 roll-up door for convenient loading and operations. The space is zoned for 6600 Commercial light manufacturing (LU4118), supporting flexible business use.
Located in Homestead’s industrial district, the property is minutes from US-1 and the Florida Turnpike. It is also identified within an Opportunity Zone.
Designed for practical day-to-day use, the combination of reinforced concrete, roll-up access, and built-in office and restroom supports trades and storage-oriented businesses.
Located in Homestead’s industrial district, the property is minutes from US-1 and the Florida Turnpike. It is also identified within an Opportunity Zone.
Designed for practical day-to-day use, the combination of reinforced concrete, roll-up access, and built-in office and restroom supports trades and storage-oriented businesses.
Key Highlights
- 1,409 SF industrial flex condo built in 2005 with reinforced concrete construction
- 12x14 roll‑up door for convenient loading
- Private office and restroom plus on‑site parking
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
$30,992
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
8.05%
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%
$619,840
$619.8K
Cap Rate 7%
$442,743
$442.7K
Cap Rate 9%
$344,356
$344.4K
Market Conditions
NOI Build-Up for 1,409 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
$50.7K $36.00/SF
− Vacancy
−$3.0K −$2.16/SF
EGI
$47.7K $33.84/SF
− OpEx
−$16.7K −$11.84/SF
NOI
$31.0K $22.00/SF
Area
Miami-Dade County, FL
Vacancy
6.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
35.00%
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%
$619,840
Cap Rate 7%
$442,743
Cap Rate 9%
$344,356
Alternative Uses
Best Use
Flex RnD
$442.7K
$387.4K – $516.5K
NOI $30,992 @ 7.0% cap · market cap 8.05%
Second Best
Industrial
$217.3K
$190.1K – $253.5K
NOI $15,211 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$714.8K
$625.5K – $834.0K
NOI $50,039 @ 7.0% cap · market cap 13.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
374
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33030, FL
36,776
Population
11,217
Households
3.3
Avg Household Size
33
Median Age
15%
College-Educated
61%
High-School Grad
17.6 sq mi
ZIP Area
2,090
Density / Sq Mi
$43,231
Median Household Income
$28,214
Median Earnings
$1,307
Median Rent
$382,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex condo built in 2005 with a 12x14 roll-up door and zoning for commercial light manufacturing.
Where is this flex space located?
The property is located at 224 NW 9th Ave Homestead, FL.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 1,409 SF industrial flex condo built in 2005 with reinforced concrete construction; 12x14 roll‑up door for convenient loading; Private office and restroom plus on‑site parking
