Warehouse Condo with Oversized
New
For Sale
$950,000
3-1770 Se 38 Avenue, Homestead, FL 33035
Climate-controlled warehouse space features a private bathroom with shower and a hurricane-rated garage door for large vehicles and equipment.
Property Size2,640 SF
Price / SF$359.85
Days on Market6
Property Features for 3-1770 Se 38 Avenue
General Information
Standard status
Active
Size
2,640 SF
Warehouse & Industrial
Clear Height
20 ft
Warehouse Space
2,640 SF
Drive-In Doors
1
Sprinkler System
Yes
Conditioned Warehouse
Yes
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$5,833
Amenities
Private bathroom with shower
Keypad access
Exterior cameras
Motorhome waste station on site
Listing Agency:
Ocean Sotheby's International Realty
(305) 712-8888
Listed By:
Eric M. Rizzo · License #3347022
(305) 394-3062
Source:
Exprealty
Added: Oct 2
Changed: Oct 7
Last Checked: Oct 6 at 2:43AM
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 Ocean Sotheby's International Realty
Investment Insights
Based on property information with market context.
This new 2,640-square-foot warehouse condo has 20-foot ceilings and a 14-by-14-foot hurricane-rated garage door. Full air conditioning, a private bathroom with shower, and a fire sprinkler system are installed. The property is gated with keypad entry and exterior cameras, and an on-site motorhome waste station is available.
The property is almost directly across from Homestead-Miami Speedway in Homestead, Florida.
The property is almost directly across from Homestead-Miami Speedway in Homestead, Florida.
Key Highlights
- 2,640‑square‑foot warehouse condo
- 20‑foot ceilings
- 14‑by‑14‑foot hurricane‑rated garage door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,069
Cap Rate
6.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,161,380
$1.2M
Cap Rate 7%
$829,557
$829.6K
Cap Rate 9%
$645,211
$645.2K
Market Conditions
NOI Build-Up for 2,640 SF
Gross rent
$95.0K $36.00/SF
− Vacancy
−$5.7K −$2.16/SF
EGI
$89.3K $33.84/SF
− OpEx
−$31.3K −$11.84/SF
NOI
$58.1K $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 Rate 5%
$1,161,380
Cap Rate 7%
$829,557
Cap Rate 9%
$645,211
Alternative Uses
Best Use
Flex RnD
$829.6K
$725.9K – $967.8K
NOI $58,069 @ 7.0% cap · market cap 6.11%
Second Best
Warehouse
$494.4K
$432.6K – $576.8K
NOI $34,608 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,757 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
1
Drive-in doors
Yes
Sprinkler system
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33035, FL
18,065
Population
6,711
Households
2.7
Avg Household Size
33
Median Age
28%
College-Educated
92%
High-School Grad
29.5 sq mi
ZIP Area
612
Density / Sq Mi
$67,601
Median Household Income
$37,785
Median Earnings
$1,855
Median Rent
$310,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Climate-controlled warehouse space features a private bathroom with shower and a hurricane-rated garage door for large vehicles and equipment.
Where is this warehouse located?
The property is located at 3-1770 Se 38 Avenue Homestead, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 2,640‑square‑foot warehouse condo; 20‑foot ceilings; 14‑by‑14‑foot hurricane‑rated garage door
