Building Details

Year Built 1959

Building Size 9,000 SF

Listing Agency: Fausto Commercial Realty Consultants Inc c**@faustocommercial.com Show Phone

Listed By: Ernesto Diaz · License #3124735 Show Phone

Source: Exprealty

Added: Sep 30 Changed: Oct 24 Last Checked: Oct 24 at 8:07PM

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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 Fausto Commercial Realty Consultants Inc

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Investment Insights

Based on property information with market context.

Constructed in 1959, this 9,000 SF warehouse contains four bays that may be occupied together or separately. The site includes approximately 12,420 SF of land.

The property carries a 7100 Industrial – Light Manufacturing land-use designation and is described as near the airport. Its bay configuration supports flexible occupancy arrangements.

Key Highlights

• Four warehouse bays can be used together or occupied separately
• 9,000 SF building on an approximately 12,420 SF lot
• Built in 1959

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$146,821

Cap Rate

6.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,936,420 $2.9M

Cap Rate 7%

$2,097,443 $2.1M

Cap Rate 9%

$1,631,344 $1.6M

Is this asking price fair?

Market Conditions

NOI Build-Up for 9,000 SF

Gross rent

$181.4K $20.16/SF

− Vacancy

−$8.7K −$0.97/SF

EGI

$172.7K $19.19/SF

− OpEx

−$25.9K −$2.88/SF

NOI

$146.8K $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 Rate 5%

$2,936,420

Cap Rate 7%

$2,097,443

Cap Rate 9%

$1,631,344

Alternative Uses

Best Use

Warehouse

$2.10M

$1.84M – $2.45M (±1% cap)

NOI $146,821 @ 7.0% cap · market cap 6.12%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$6.08M

$5.32M – $7.09M (±1% cap)

NOI $425,254 @ 7.0% cap · market cap 17.72%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Warehouses

Suggested Use

Top Pick Real Estate Agency Law Firm Spa & Massage Center Pharmacy Hair Salon Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,410

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

4.1% 2019

4.6% 2020

2.2% 2021

1.6% 2022

2.4% 2023

5.7% 2024

6.5% 2025

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Similar Off Market Nearby

• Stasher Luggage Storage — 4299 NW 36th St, Miami Springs, FL 33166
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• Self Storage — 3901 nw 29th ave, miami, fl 33142
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• Public Storage — 3700 NW 29th Ave, Miami, FL 33142

Frequently Asked Questions

What type of property is this?

Warehouse - Four-bay configuration allows a single operation or separate occupancy by bay.

Where is this warehouse located?

The property is located at 3787 Nw 38th St Miami, FL.

What is the asking price?

The asking price for this property is $2,400,000.

What are key features of this property?

This property features: Four warehouse bays can be used together or occupied separately; 9,000 SF building on an approximately 12,420 SF lot; Built in 1959