Small-Bay Industrial
For Sale
$1,000,000
3651 NW 49th St, Miami, FL 33142
Vacant warehouse with IU-1 zoning, substantial electrical service, and a recessed street-level loading door.
Property Size3,540 SF
Lot Size0.13 Acres
Price / SF$282.49
Days on Market110
Property Features for 3651 NW 49th St
General Information
Standard status
Active
Size
3,540 SF
Lot size
0.13 Acres
Property subtype
Warehouse
Zoning
IU-1
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
1
Power
800 amps
Voltage
240 V
Three-Phase Power
Yes
Amenities
Ideal Owner-User Opportunity (Delivered Vacant)
Twin Tee Concrete Roof
18' Clear Height
1 Street-Level Door (recessed loading area)
3-Phase Power (800 amps @ 240 volts)
1 Electric Meter & 1 Water Meter
Building Details
Building Size
3,540 SF
Year Built
1966
Listing Agency:
Marcus & Millichap - Miami
(786) 522-7027
Listed By:
Jonathan De La Rosa · License #License(s): FL: SL3283433
(786) 522-7027
Source:
Marcusmillichap
Added: May 14
Changed: Aug 30
Last Checked: Aug 30 at 3:02PM
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 Marcus & Millichap - Miami
Investment Insights
Based on property information with market context.
This vacant industrial warehouse contains ±3,540 SF on a 5,500 SF lot and was built in 1966. The building offers an 18-foot clear height, one recessed street-level loading door, and 3-phase electrical service rated at 800 amps and 240 volts. A twin tee concrete roof completes the improvements.
The property is located at 3651 NW 49th St in Miami, approximately ±2 miles from Miami International Airport and ±6 miles from the Port of Miami. IU-1 zoning supports industrial use, while the existing configuration provides a practical small-bay format for occupancy or ownership. The asset is offered vacant.
The property is located at 3651 NW 49th St in Miami, approximately ±2 miles from Miami International Airport and ±6 miles from the Port of Miami. IU-1 zoning supports industrial use, while the existing configuration provides a practical small-bay format for occupancy or ownership. The asset is offered vacant.
Key Highlights
- ±3,540 SF industrial warehouse on a 5,500 SF lot
- 18‑foot clear height with one recessed street‑level loading door
- 3‑phase power with 800 amps at 240 volts
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
$57,750
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
5.78%
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%
$1,155,000
$1.2M
Cap Rate 7%
$825,000
$825.0K
Cap Rate 9%
$641,667
$641.7K
Market Conditions
NOI Build-Up for 3,540 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
$71.4K $20.16/SF
− Vacancy
−$3.4K −$0.97/SF
EGI
$67.9K $19.19/SF
− OpEx
−$10.2K −$2.88/SF
NOI
$57.7K $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%
$1,155,000
Cap Rate 7%
$825,000
Cap Rate 9%
$641,667
Alternative Uses
Best Use
Warehouse
$825.0K
$721.9K – $962.5K
NOI $57,750 @ 7.0% cap · market cap 5.78%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.39M
$2.09M – $2.79M
NOI $167,267 @ 7.0% cap · market cap 16.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,573
Businesses Nearby
Well-served
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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Frequently Asked Questions
What type of property is this?
Warehouse - Vacant warehouse with IU-1 zoning, substantial electrical service, and a recessed street-level loading door.
Where is this warehouse located?
The property is located at 3651 NW 49th St Miami, FL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: ±3,540 SF industrial warehouse on a 5,500 SF lot; 18‑foot clear height with one recessed street‑level loading door; 3‑phase power with 800 amps at 240 volts
