Flex Space With Existing
For Sale
$11,000,000
3326 NW S River Dr, Miami, FL 33142
Commercial Sale, Miami, FL
Property Size12,406 SF
Lot Size0.73 Acres
Price / SF$886.67
Days on Market63
Property Features for 3326 NW S River Dr
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
6118
Subdivision
31
Standard status
Active
APN
30-31-28-009-0370
Lot size
0.73 Acres
Taxes and HOA fees
Tax Description
STREAMLAND GARDENS PB 17-27 LOTS 5 & 6 LESS NE10FT FOR RD BLK 2 B LOT SIZE 32000 SQUARE FEET OR 20253-1572 0302 1
Legal Description
STREAMLAND GARDENS PB 17-27 LOTS 5 & 6 LESS NE10FT FOR RD BLK 2 B LOT SIZE 32000 SQUARE FEET OR 20253-1572 0302 1
Building Details
Year built
1966
Number of units
1
Architectural style
Other
Listing Agency:
Fortune Christie's Intl R.E.
(305) 856-2600
Listed By:
Monica Hurtado · License #3298858
(786) 380-5318
Added: Jun 19
Changed: Aug 20
Last Checked: Aug 20 at 11:06AM
MLS# A11998941
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex-space property encompasses approximately 32,000 SF of land with a 12,406 SF building constructed in 1966. Full-site county layout plans are available, and the existing improvements include a building footprint, circulation areas, and yard functionality. Historical approvals covered auto collision and body-shop operations with painting, along with one indoor automotive spray booth. Municipal documentation also includes prior sewer allocation, environmental review, fire and mechanical approvals, and hazardous-material workflow precedent.
Located at 3326 NW S River Dr in Miami, the property is positioned within the Miami River corridor and South River area. Its documented history supports consideration for automotive, marine, warehouse, logistics, contractor storage, flex industrial, showroom, and specialty service applications, subject to applicable approvals and requirements. The property contains 0.7346 acres within Miami-Dade County and is identified by ZIP Code 33142.
Located at 3326 NW S River Dr in Miami, the property is positioned within the Miami River corridor and South River area. Its documented history supports consideration for automotive, marine, warehouse, logistics, contractor storage, flex industrial, showroom, and specialty service applications, subject to applicable approvals and requirements. The property contains 0.7346 acres within Miami-Dade County and is identified by ZIP Code 33142.
Key Highlights
- Approximately 32,000 SF of land with a 12,406 SF existing building
- Historical approvals for auto collision, body‑shop painting, and one indoor automotive spray booth
- Full‑site county layout plans are available
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
Warehouse
$2.89M
$2.53M – $3.37M
NOI $202,385 @ 7.0% cap · market cap 1.84%
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
Balanced
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Chef Reni Catering & Services
Frequently Asked Questions
What type of property is this?
Flex space - Existing improvements and documented automotive approvals support a range of commercial and industrial uses.
Where is this flex space located?
The property is located at 3326 NW S River Dr 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 SF of land with a 12,406 SF existing building; Historical approvals for auto collision, body‑shop painting, and one indoor automotive spray booth; Full‑site county layout plans are available
