Improved Industrial
For Sale
$11,000,000
3326 S River Drive, Miami, FL 33142
Industrial site with an existing building, operational yard, and circulation for automotive and marine-related operations.
Property Size12,406 SF
Days on Market42
Property Features for 3326 S River Drive
General Information
Standard status
Active
Size
12,406 SF
Zoning
6118
Building Details
Building Size
12,406 SF
Year Built
1966
Listing Agency:
Fortune Christie's Intl R.E.
(786) 380-5318
Listed By:
Monica Hurtado · License #3601415
(786) 380-5318
Source:
Laerrealty
Added: Jul 21
Changed: Aug 30
Last Checked: Aug 30 at 1:30PM
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 Fortune Christie's Intl R.E.
Investment Insights
Based on property information with market context.
This industrial land parcel includes approximately 32,000 square feet of land and an existing industrial structure totaling approximately 12,406 square feet. The improvements provide building space, an operational yard, and established circulation, with the site currently used for automotive and marine-related commercial operations.
The property is positioned within Miami’s South River industrial corridor at 3326 NW S River Dr. Surrounding uses identified in the property information include logistics operators, contractors, automotive and marine businesses, and institutional warehouse facilities. The site’s zoning designation is identified as Urban Center – Center, with the property information describing support for automotive service, marine service and logistics, contractor operations, industrial services, logistics support, and flex industrial redevelopment.
The property is positioned within Miami’s South River industrial corridor at 3326 NW S River Dr. Surrounding uses identified in the property information include logistics operators, contractors, automotive and marine businesses, and institutional warehouse facilities. The site’s zoning designation is identified as Urban Center – Center, with the property information describing support for automotive service, marine service and logistics, contractor operations, industrial services, logistics support, and flex industrial redevelopment.
Key Highlights
- Approximately 32,000 square feet of industrial land
- Existing industrial structure totals approximately 12,406 square feet
- Operational yard and established site circulation
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
$404,754
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
3.68%
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%
$8,095,080
$8.1M
Cap Rate 7%
$5,782,200
$5.8M
Cap Rate 9%
$4,497,267
$4.5M
Market Conditions
NOI Build-Up for 12,406 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
$644.6K $51.96/SF
− Vacancy
−$66.4K −$5.35/SF
EGI
$578.2K $46.61/SF
− OpEx
−$173.5K −$13.98/SF
NOI
$404.8K $32.63/SF
Area
Miami, FL
Vacancy
10.30%
Lease Rate
$51.96 /SF/Yr
Expense Ratio
30.00%
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%
$8,095,080
Cap Rate 7%
$5,782,200
Cap Rate 9%
$4,497,267
Alternative Uses
Best Use
Retail
$5.78M
$5.06M – $6.75M
NOI $404,754 @ 7.0% cap · market cap 3.68%
Second Best
Industrial
$2.38M
$2.08M – $2.78M
NOI $166,670 @ 7.0% cap · market cap 1.52%
Theoretical Best
Specialty Retail
$8.37M
$7.33M – $9.77M
NOI $586,189 @ 7.0% cap · market cap 5.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
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?
Industrial land - Industrial site with an existing building, operational yard, and circulation for automotive and marine-related operations.
Where is this industrial land located?
The property is located at 3326 S River Drive Miami, FL.
What is the asking price?
The asking price for this property is $11,000,000.
What are key features of this property?
This property features: Approximately 32,000 square feet of industrial land; Existing industrial structure totals approximately 12,406 square feet; Operational yard and established site circulation
