Industrial Condo with Roll-Up
For Sale
Contact for pricing
420-424 NW 10th Ave, Homestead, FL 33030
Industrial condo with 12'x14' roll-up door, office, restroom, open warehouse layout, and ample parking.
Property Size1,250 SF
Price / SF$260
Days on Market45
Property Features for 420-424 NW 10th Ave
General Information
Standard status
Active
Size
1,250 SF
Property subtype
INDUSTRIAL
Zoning
I-2
Additional Details
Opportunity Zone
Yes
Highway Access
Yes
Amenities
private office
restroom
Building Details
Year Built
2006
Listing Agency:
CENTURY 21 Global Connections Realty
(954) 284-3400
Listed By:
Jacqueline Lazo · License #3112232
(786) 218-4602
Source:
Moodyscre
Added: Jul 21
Changed: Sep 3
Last Checked: Sep 2 at 7:13PM
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 CENTURY 21 Global Connections Realty
Investment Insights
Based on property information with market context.
This 1,250 SF industrial condo was built in 2006 and is laid out with an open warehouse area plus a private office and restroom. The unit features a 12' x 14' roll-up door and includes ample parking for customer and employee convenience.
The property is located within the Homesteads General Industrial District (I-2) and is zoned for light manufacturing, trades, or storage. It is also identified as being in an Opportunity Zone and is described as being near US-1, Krome Ave, and the Turnpike.
As a compact industrial option, the existing improvements support a range of light industrial storage and work uses consistent with the property’s zoning designation.
The property is located within the Homesteads General Industrial District (I-2) and is zoned for light manufacturing, trades, or storage. It is also identified as being in an Opportunity Zone and is described as being near US-1, Krome Ave, and the Turnpike.
As a compact industrial option, the existing improvements support a range of light industrial storage and work uses consistent with the property’s zoning designation.
Key Highlights
- 1250 SF industrial condo built in 2006 with an open warehouse layout
- 12' x 14' roll‑up door for warehouse access
- Includes private office and restroom
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
$16,386
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
5.04%
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%
$327,720
$327.7K
Cap Rate 7%
$234,086
$234.1K
Cap Rate 9%
$182,067
$182.1K
Market Conditions
NOI Build-Up for 1,250 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
$20.4K $16.32/SF
− Vacancy
−$1.1K −$0.90/SF
EGI
$19.3K $15.42/SF
− OpEx
−$2.9K −$2.31/SF
NOI
$16.4K $13.11/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$16.32 /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%
$327,720
Cap Rate 7%
$234,086
Cap Rate 9%
$182,067
Alternative Uses
Best Use
Warehouse
$234.1K
$204.8K – $273.1K
NOI $16,386 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$634.2K
$554.9K – $739.9K
NOI $44,392 @ 7.0% cap · market cap 13.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
760
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33030, FL
36,776
Population
11,217
Households
3.3
Avg Household Size
33
Median Age
15%
College-Educated
61%
High-School Grad
17.6 sq mi
ZIP Area
2,090
Density / Sq Mi
$43,231
Median Household Income
$28,214
Median Earnings
$1,307
Median Rent
$382,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Florida City Self Storage — 13 E Lucy St, Florida City, FL 33034
- North American Moving Services — 32100 SW 187th Ave Suite A, Homestead, FL 33030
- Homestead Transfer and Storage — 32100 SW 187th Ave, Homestead, FL 33030
- Self Storage — 715 W Mowry Dr, Homestead, FL 33030
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial condo with 12'x14' roll-up door, office, restroom, open warehouse layout, and ample parking.
Where is this warehouse located?
The property is located at 420-424 NW 10th Ave Homestead, FL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1250 SF industrial condo built in 2006 with an open warehouse layout; 12' x 14' roll‑up door for warehouse access; Includes private office and restroom
