Warehouse
For Sale
Contact for pricing
2655 NE 189th St, Miami, FL 33180
Warehouse facility near Aventura Mall, Aventura Square, and Aventura Town Center.
Property Size36,494 SF
Price / SF$513.78
Days on Market54
Property Features for 2655 NE 189th St
General Information
Standard status
Active
Size
36,494 SF
Property subtype
INDUSTRIAL
Listing Agency:
Gridline Properties
Listed By:
Alfredo Riascos · License #3210686
(305) 507-7098
Source:
Moodyscre
Added: Jul 31
Changed: Sep 12
Last Checked: Sep 21 at 10:18AM
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 Gridline Properties
Investment Insights
Based on property information with market context.
This 36,494-square-foot warehouse property is located at 2655 NE 189th St in Miami, Florida. The asset includes loading height and is occupied by established tenants.
The property is situated minutes from Aventura Mall, Aventura Square, and Aventura Town Center, placing the warehouse near several established commercial destinations.
The property is situated minutes from Aventura Mall, Aventura Square, and Aventura Town Center, placing the warehouse near several established commercial destinations.
Key Highlights
- 36,494‑square‑foot warehouse property
- Located at 2655 NE 189th St, Miami, FL 33180
- Established tenants in place
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
$595,344
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
3.18%
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%
$11,906,880
$11.9M
Cap Rate 7%
$8,504,914
$8.5M
Cap Rate 9%
$6,614,933
$6.6M
Market Conditions
NOI Build-Up for 36,494 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
$735.7K $20.16/SF
− Vacancy
−$35.3K −$0.97/SF
EGI
$700.4K $19.19/SF
− OpEx
−$105.1K −$2.88/SF
NOI
$595.3K $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%
$11,906,880
Cap Rate 7%
$8,504,914
Cap Rate 9%
$6,614,933
Alternative Uses
Best Use
Warehouse
$8.50M
$7.44M – $9.92M
NOI $595,344 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$24.63M
$21.55M – $28.74M
NOI $1,724,358 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,470
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
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?
Warehouse - Warehouse facility near Aventura Mall, Aventura Square, and Aventura Town Center.
Where is this warehouse located?
The property is located at 2655 NE 189th St Miami, FL.
What is the asking price?
The asking price for this property is $18,750,000.
What are key features of this property?
This property features: 36,494‑square‑foot warehouse property; Located at 2655 NE 189th St, Miami, FL 33180; Established tenants in place
