Modernized Creative Flex
New
For Sale
$6,200,000
261 NW 71st St, Miami, FL 33150
Integrated facility combining client-facing areas, offices, warehouse capacity, and production space for flexible commercial use.
Property Size12,500 SF
Lot Size0.35 Acres
Price / SF$496
Days on Market1
Property Features for 261 NW 71st St
General Information
Standard status
Active
Size
12,500 SF
Lot size
0.35 Acres
Property subtype
Single-Tenant Industrial
Additional Details
Asking Price
$6,200,000
Amenities
12,500 SF modernized creative-industrial facility in Little River with showroom, office, conference, warehouse and production functionality. The property spans 261 NW 71st St and 7120 NW 2nd Ct and cu
Offered at $6,200,000 with a proposed approximately two-year seller leaseback at $30.00/SF NNN, equating to approximately $375,000 in annual pro forma base rent and a 6.05% pro forma cap rate. Seller
Located within the Little River redevelopment corridor near major planned public and private investment, including AJ Capital / MVW, Swerdlow Group and a planned Tri-Rail station. The opportunity comb
Building Details
Building Size
12,500 SF
Year Built
1955
Listing Agency:
Marcus & Millichap - The Zylberglait Group
Listed By:
Alex Zylberglait · License #License(s): FL: BK3015211
(786) 522-7056
Source:
Marcusmillichap
Added: Sep 16
Last Checked: Sep 16 at 2:13PM
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 Marcus & Millichap - The Zylberglait Group
Investment Insights
Based on property information with market context.
This approximately 12,500-square-foot flex property operates as one integrated facility on approximately 15,246 square feet, or 0.35 acres. The modernized layout brings together polished showroom and client-facing areas, finished offices, conference space, warehouse capacity, and production functionality. Built in 1955, the asset is located at 261 NW 71st St and 7120 NW 2nd Court in Miami, Florida.
The property is positioned within the broader Little River redevelopment corridor, where nearby activity includes AJ Capital and MVW’s Little River platform, Swerdlow Group’s planned district-scale redevelopment, and a planned new Tri Rail station. A proposed approximately two-year NNN sale leaseback is part of the contemplated transaction, with final terms subject to negotiation and documentation.
The property is positioned within the broader Little River redevelopment corridor, where nearby activity includes AJ Capital and MVW’s Little River platform, Swerdlow Group’s planned district-scale redevelopment, and a planned new Tri Rail station. A proposed approximately two-year NNN sale leaseback is part of the contemplated transaction, with final terms subject to negotiation and documentation.
Key Highlights
- Approximately 12,500 square feet on approximately 15,246 square feet, or 0.35 acres
- Modernized flex facility with showroom, offices, conference space, warehouse, and production areas
- One integrated facility at 261 NW 71st St and 7120 NW 2nd Court
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
$203,918
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
3.29%
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%
$4,078,360
$4.1M
Cap Rate 7%
$2,913,114
$2.9M
Cap Rate 9%
$2,265,756
$2.3M
Market Conditions
NOI Build-Up for 12,500 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
$252.0K $20.16/SF
− Vacancy
−$12.1K −$0.97/SF
EGI
$239.9K $19.19/SF
− OpEx
−$36.0K −$2.88/SF
NOI
$203.9K $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%
$4,078,360
Cap Rate 7%
$2,913,114
Cap Rate 9%
$2,265,756
Alternative Uses
Best Use
Warehouse
$2.91M
$2.55M – $3.40M
NOI $203,918 @ 7.0% cap · market cap 3.29%
Second Best
Flex RnD
$2.62M
$2.29M – $3.06M
NOI $183,300 @ 7.0% cap · market cap 2.96%
Theoretical Best
Specialty Retail
$8.44M
$7.38M – $9.84M
NOI $590,631 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,200
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33150, FL
28,703
Population
12,403
Households
2.3
Avg Household Size
37
Median Age
14%
College-Educated
75%
High-School Grad
3.5 sq mi
ZIP Area
8,201
Density / Sq Mi
$40,802
Median Household Income
$32,359
Median Earnings
$1,179
Median Rent
$377,700
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 - Integrated facility combining client-facing areas, offices, warehouse capacity, and production space for flexible commercial use.
Where is this flex space located?
The property is located at 261 NW 71st St Miami, FL.
What is the asking price?
The asking price for this property is $6,200,000.
What are key features of this property?
This property features: Approximately 12,500 square feet on approximately 15,246 square feet, or 0.35 acres; Modernized flex facility with showroom, offices, conference space, warehouse, and production areas; One integrated facility at 261 NW 71st St and 7120 NW 2nd Court
