Renovated Flex Space with
For Sale
$1,496,000
Pending
5520-5522 NW 72nd Ave # 5522 Unit 5520-5522, Miami, FL 33166
Executive offices and climate-controlled storage support both client service and daily operations.
Property Size4,800 SF
Days on Market62
Property Features for 5520-5522 NW 72nd Ave # 5522 Unit 5520-5522
General Information
Standard status
Pending
Size
4,800 SF
Property subtype
Mixed Use
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
1
Conditioned Warehouse
Yes
Additional Details
HOA Fee
$800
Highway Access
Yes
Building Details
Building Size
4,800 SF
Year Built
1973
Listing Agency:
Compass Florida, LLC.
Listed By:
Wendy Perez · License #3655602
(786) 603-7773
Source:
Vanessafrankmiami
Added: Jul 21
Changed: Sep 18
Last Checked: Sep 19 at 11:32AM
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 approximately 4,420-square-foot flex property combines a polished executive office component with functional warehouse space. The office area includes a reception setting, glass-enclosed boardroom, private offices, custom millwork, marble finishes, architectural lighting, a kitchenette, and a private restroom. At the rear, the warehouse provides approximately 16-foot clear height, a street-level roll-up door, climate-controlled storage, pallet racking, and two private entrances.
Built in 1973 and comprehensively renovated, the property offers a finished headquarters environment with substantial operational improvements already in place. Its position adjacent to Downtown Doral places the facility near restaurants, retail, and daily amenities, while proximity to the Palmetto Expressway (SR-826) connects it with Miami business and logistics corridors.
Built in 1973 and comprehensively renovated, the property offers a finished headquarters environment with substantial operational improvements already in place. Its position adjacent to Downtown Doral places the facility near restaurants, retail, and daily amenities, while proximity to the Palmetto Expressway (SR-826) connects it with Miami business and logistics corridors.
Key Highlights
- Approximately 4,420 SF flex property with renovated office and warehouse areas
- Office buildout includes reception area, glass‑enclosed boardroom, private offices, kitchenette, and private restroom
- Warehouse offers approximately 16‑foot clear ceilings and a street‑level roll‑up door
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
$126,799
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
8.48%
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%
$2,535,980
$2.5M
Cap Rate 7%
$1,811,414
$1.8M
Cap Rate 9%
$1,408,878
$1.4M
Market Conditions
NOI Build-Up for 4,420 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
$198.9K $45.00/SF
− Vacancy
−$29.8K −$6.75/SF
EGI
$169.1K $38.25/SF
− OpEx
−$42.3K −$9.56/SF
NOI
$126.8K $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%
$2,535,980
Cap Rate 7%
$1,811,414
Cap Rate 9%
$1,408,878
Alternative Uses
Best Use
Office B
$1.81M
$1.58M – $2.11M
NOI $126,799 @ 7.0% cap · market cap 8.48%
Second Best
Warehouse
$1.03M
$901.3K – $1.20M
NOI $72,106 @ 7.0% cap · market cap 4.82%
Theoretical Best
Specialty Retail
$2.98M
$2.61M – $3.48M
NOI $208,847 @ 7.0% cap · market cap 13.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16 ft
Clear height
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,002
Businesses Nearby
Balanced
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
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Frequently Asked Questions
What type of property is this?
Flex space - Executive offices and climate-controlled storage support both client service and daily operations.
Where is this flex space located?
The property is located at 5520-5522 NW 72nd Ave # 5522 Unit 5520-5522 Miami, FL.
What is the asking price?
The asking price for this property is $1,496,000.
What are key features of this property?
This property features: Approximately 4,420 SF flex property with renovated office and warehouse areas; Office buildout includes reception area, glass‑enclosed boardroom, private offices, kitchenette, and private restroom; Warehouse offers approximately 16‑foot clear ceilings and a street‑level roll‑up door
