Industrial Warehouse on Corner
For Sale
$3,500,000
Pending
2428 NW 7th Ave, Miami, FL 33127
Large industrial warehouse on a corner lot, zoned for heavy to light manufacturing and related uses.
Property Size13,529 SF
Days on Market143
Property Features for 2428 NW 7th Ave
General Information
Standard status
Pending
Size
13,529 SF
Total Parking Spaces
7
Zoning
7000
Amenities
Other
Building Details
Building Size
13,529 SF
Year Built
1926
Buildings
2
Stories
1
Listing Agency:
Keller Williams Realty
Listed By:
Stephany Buchicchio · License #3346433
(305) 283-0339
Source:
Evrealestate
Added: Apr 18
Changed: Sep 6
Last Checked: Sep 7 at 5:28AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This property is an existing industrial warehouse and business site on a large corner lot. The public remarks indicate the facility includes over 13,000 square feet and is described as having potential for multiple business uses.
The property is located in Dade County, with the public remarks noting it is blocks from Wynwood. The site is described as centrally located, and the zoning is stated as heavy to light manufacturing, food processing, and retail warehouse space, with the option to be used as residential as well.
Interested parties should contact the listing broker to schedule an appointment to view the property and confirm allowable uses under the applicable zoning regulations.
The property is located in Dade County, with the public remarks noting it is blocks from Wynwood. The site is described as centrally located, and the zoning is stated as heavy to light manufacturing, food processing, and retail warehouse space, with the option to be used as residential as well.
Interested parties should contact the listing broker to schedule an appointment to view the property and confirm allowable uses under the applicable zoning regulations.
Key Highlights
- 1926‑built industrial warehouse on a huge corner lot in Dade County
- Over 13,000 sq ft for warehouse and related uses
- Zoned for heavy to light manufacturing, food processing, and retail warehouse space
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
$212,075
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
6.06%
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%
$4,241,500
$4.2M
Cap Rate 7%
$3,029,643
$3.0M
Cap Rate 9%
$2,356,389
$2.4M
Market Conditions
NOI Build-Up for 13,000 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
$262.1K $20.16/SF
− Vacancy
−$12.6K −$0.97/SF
EGI
$249.5K $19.19/SF
− OpEx
−$37.4K −$2.88/SF
NOI
$212.1K $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%
$4,241,500
Cap Rate 7%
$3,029,643
Cap Rate 9%
$2,356,389
Alternative Uses
Best Use
Warehouse
$3.03M
$2.65M – $3.53M
NOI $212,075 @ 7.0% cap · market cap 6.06%
Second Best
Industrial
$2.49M
$2.18M – $2.91M
NOI $174,650 @ 7.0% cap · market cap 4.99%
Theoretical Best
Specialty Retail
$8.78M
$7.68M – $10.24M
NOI $614,256 @ 7.0% cap · market cap 17.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,634
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
Median Home Value
Market
Vacancy Rate% for Industrial in Miami, FL
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 - Large industrial warehouse on a corner lot, zoned for heavy to light manufacturing and related uses.
Where is this warehouse located?
The property is located at 2428 NW 7th Ave Miami, FL.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 1926‑built industrial warehouse on a huge corner lot in Dade County; Over 13,000 sq ft for warehouse and related uses; Zoned for heavy to light manufacturing, food processing, and retail warehouse space
