Finished Flex Space With Loading
For Sale
$900,000
5516 NW 72nd Ave 5516, Miami, FL 33166
Professional offices and operational amenities support owner-users seeking a finished workspace with minimal build-out requirements.
Property Size2,400 SF
Price / SF$375
Days on Market13
Property Features for 5516 NW 72nd Ave 5516
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Public Transit
Yes
Warehouse & Industrial
Clear Height
13 ft
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$7,681
Amenities
full kitchen
climate-controlled storage
Building Details
Building Size
2,400 SF
Year Built
1973
Listing Agency:
Compass Florida, LLC.
(786) 603-7773
Listed By:
Wendy Perez
(786) 603-7773
Source:
Elliman
Added: Aug 1
Changed: Aug 8
Last Checked: Aug 12 at 9:48AM
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 Compass Florida, LLC.
Investment Insights
Based on property information with market context.
This 2,400 SF flex property combines finished office areas with practical operational space. The layout includes professionally finished private offices, a full kitchen, climate-controlled storage, and a street-level loading door. Approximately 13-foot ceilings, contemporary linear LED fixtures, and a glass-fronted office built within a shipping container add distinctive design elements while supporting day-to-day functionality. The property was built in 1973.
The location at 5516 NW 72nd Ave in Miami is adjacent to Downtown Doral, with reported drive times of approximately five minutes to the Palmetto Expressway and ten minutes to Miami International Airport. WalkScore is 70, BikeScore is 48, and TransitScore is 40.
The existing configuration is suited to consulting firms, creative agencies, technology companies, light manufacturing, e-commerce operations, and other owner-users identified in the property information. The combination of office improvements, storage, kitchen facilities, and loading access provides a ready-to-use setting for professional and operational functions.
The location at 5516 NW 72nd Ave in Miami is adjacent to Downtown Doral, with reported drive times of approximately five minutes to the Palmetto Expressway and ten minutes to Miami International Airport. WalkScore is 70, BikeScore is 48, and TransitScore is 40.
The existing configuration is suited to consulting firms, creative agencies, technology companies, light manufacturing, e-commerce operations, and other owner-users identified in the property information. The combination of office improvements, storage, kitchen facilities, and loading access provides a ready-to-use setting for professional and operational functions.
Key Highlights
- 2,400 SF flex property with finished office and operational areas
- Approximately 13‑foot ceilings with contemporary linear LED lighting
- Street‑level loading door and climate‑controlled storage
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
$68,850
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
7.65%
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%
$1,377,000
$1.4M
Cap Rate 7%
$983,571
$983.6K
Cap Rate 9%
$765,000
$765.0K
Market Conditions
NOI Build-Up for 2,400 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
$108.0K $45.00/SF
− Vacancy
−$16.2K −$6.75/SF
EGI
$91.8K $38.25/SF
− OpEx
−$23.0K −$9.56/SF
NOI
$68.9K $28.69/SF
Area
Miami, FL
Vacancy
15.00%
Lease Rate
$45.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,377,000
Cap Rate 7%
$983,571
Cap Rate 9%
$765,000
Alternative Uses
Best Use
Office B
$983.6K
$860.6K – $1.15M
NOI $68,850 @ 7.0% cap · market cap 7.65%
Second Best
Warehouse
$559.3K
$489.4K – $652.5K
NOI $39,152 @ 7.0% cap · market cap 4.35%
Theoretical Best
Specialty Retail
$1.62M
$1.42M – $1.89M
NOI $113,401 @ 7.0% cap · market cap 12.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13 ft
Clear height
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,682
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33166, FL
26,106
Population
10,838
Households
2.4
Avg Household Size
41
Median Age
42%
College-Educated
83%
High-School Grad
7.9 sq mi
ZIP Area
3,305
Density / Sq Mi
$78,166
Median Household Income
$39,744
Median Earnings
$1,766
Median Rent
$489,200
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Professional offices and operational amenities support owner-users seeking a finished workspace with minimal build-out requirements.
Where is this flex space located?
The property is located at 5516 NW 72nd Ave 5516 Miami, FL.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 2,400 SF flex property with finished office and operational areas; Approximately 13‑foot ceilings with contemporary linear LED lighting; Street‑level loading door and climate‑controlled storage
