Freestanding Warehouse with
For Sale
$4,200,000
2655 NE 188th St, Miami, FL 33180
Freestanding warehouse with gated yard, 16' clear height, and office buildout with private offices and conference room.
Property Size9,860 SF
Price / SF$425.96
Days on Market42
Property Features for 2655 NE 188th St
General Information
Standard status
Active
Size
9,860 SF
Property subtype
Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
3
Heavy Power
Yes
Building Details
Building Size
9,860 SF
Year Built
1969
Year Renovated
2024
Listing Agency:
SVN Commercial Realty
Listed By:
Joel A. Kattan, SIOR · License #674519
(954) 448-8531
Source:
Svn
Added: Jul 23
Changed: Aug 31
Last Checked: Sep 1 at 6:09PM
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 SVN Commercial Realty
Investment Insights
Based on property information with market context.
Freestanding warehouse offering approximately 9,860 SF with a tenant-ready office configuration and supportive warehouse improvements. The office area includes two private offices, a conference room, bull pen open area, and one restroom, while the warehouse features three restrooms. Warehouse clear height is approximately 16 feet with a twin T roof (2024). The property includes column-free space and two operational built-in exhaust fans, with 3-phase 240V service and 600 amp power. There are three 3 grade level doors (10' W x 14' H) with electric openers.
The site includes a fully gated, secured yard with ample parking and additional on-site storage space. There is a 1,200 SF mezzanine (not included in the stated SF) and an additional approximately 900 SF of mezzanine storage above the office (not included in the stated SF). The property is on sewer and has completed 40/50-year recertification.
Access is provided via three grade level doors suitable for loading and staging within the secured yard and parking areas.
The site includes a fully gated, secured yard with ample parking and additional on-site storage space. There is a 1,200 SF mezzanine (not included in the stated SF) and an additional approximately 900 SF of mezzanine storage above the office (not included in the stated SF). The property is on sewer and has completed 40/50-year recertification.
Access is provided via three grade level doors suitable for loading and staging within the secured yard and parking areas.
Key Highlights
- ±9,860 SF freestanding warehouse with yard in Aventura; on sewer and in excellent condition after renovations/paint.
- 16' clear height with twin T roof (2024) and column‑free warehouse layout.
- Built‑in operational exhaust fans plus 3‑phase 240V/600 amp power.
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
$160,851
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
3.83%
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%
$3,217,020
$3.2M
Cap Rate 7%
$2,297,871
$2.3M
Cap Rate 9%
$1,787,233
$1.8M
Market Conditions
NOI Build-Up for 9,860 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
$198.8K $20.16/SF
− Vacancy
−$9.5K −$0.97/SF
EGI
$189.2K $19.19/SF
− OpEx
−$28.4K −$2.88/SF
NOI
$160.9K $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%
$3,217,020
Cap Rate 7%
$2,297,871
Cap Rate 9%
$1,787,233
Alternative Uses
Best Use
Warehouse
$2.30M
$2.01M – $2.68M
NOI $160,851 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.66M
$5.82M – $7.76M
NOI $465,889 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
3
Drive-in doors
Yes
Heavy power
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,995
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33180, FL
35,062
Population
21,112
Households
1.7
Avg Household Size
45
Median Age
55%
College-Educated
95%
High-School Grad
3.3 sq mi
ZIP Area
10,625
Density / Sq Mi
$88,613
Median Household Income
$51,612
Median Earnings
$2,480
Median Rent
$471,400
Median Home Value
Market
Vacancy Rate% for Industrial in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Freestanding warehouse with gated yard, 16' clear height, and office buildout with private offices and conference room.
Where is this warehouse located?
The property is located at 2655 NE 188th St Miami, FL.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: ±9,860 SF freestanding warehouse with yard in Aventura; on sewer and in excellent condition after renovations/paint.; 16' clear height with twin T roof (2024) and column‑free warehouse layout.; Built‑in operational exhaust fans plus 3‑phase 240V/600 amp power.
