Remodeled Flex Space with
For Sale
Contact for pricing
5520 NW 72nd Ave # 5520, Miami, FL 33166
Air-conditioned offices, open warehouse space, a private bathroom, kitchenette, and designated parking provide a functional commercial layout.
Property Size1,390 SF
Price / SF$611.51
Days on Market136
Property Features for 5520 NW 72nd Ave # 5520
General Information
Standard status
Active
Size
1,390 SF
Property subtype
Industrial, Multifamily
Zoning
7300
Additional Details
Asking Price
$849,999
Road Access
Yes
Amenities
kitchenette
Building Details
Year Built
1973
Listing Agency:
Bravo Realty Services Inc.
(786) 457-1420
Listed By:
Lis Pintado · License #3194760
Source:
Crexi
Added: Apr 19
Changed: Aug 31
Last Checked: Aug 31 at 2:07AM
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 Bravo Realty Services Inc.
Investment Insights
Based on property information with market context.
This 1,390 SF flex space combines remodeled, air-conditioned office areas with open warehouse space. The offices include wood floors, private bathroom access, and a kitchenette equipped with a refrigerator. A separate air-conditioned storage room and pallet racking system support organized use of the warehouse area. The property was built in 1973 and is zoned 7300.
Two separate office areas have individual street entrances, creating distinct access points within the unit. The property can be entered from NW 72nd Ave or NW 74 Ave and includes designated parking plus more than 40 shared guest parking spaces. The Doral location is described as being near the airport and major highways.
Two separate office areas have individual street entrances, creating distinct access points within the unit. The property can be entered from NW 72nd Ave or NW 74 Ave and includes designated parking plus more than 40 shared guest parking spaces. The Doral location is described as being near the airport and major highways.
Key Highlights
- 1,390 SF flex space with remodeled air‑conditioned offices and open warehouse area
- Two separate office areas with individual street entrances
- Private bathroom, wood flooring, and kitchenette with refrigerator
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
$39,876
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
4.69%
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%
$797,520
$797.5K
Cap Rate 7%
$569,657
$569.7K
Cap Rate 9%
$443,067
$443.1K
Market Conditions
NOI Build-Up for 1,390 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
$62.6K $45.00/SF
− Vacancy
−$9.4K −$6.75/SF
EGI
$53.2K $38.25/SF
− OpEx
−$13.3K −$9.56/SF
NOI
$39.9K $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%
$797,520
Cap Rate 7%
$569,657
Cap Rate 9%
$443,067
Alternative Uses
Best Use
Office B
$569.7K
$498.5K – $664.6K
NOI $39,876 @ 7.0% cap · market cap 4.69%
Second Best
Warehouse
$323.9K
$283.5K – $377.9K
NOI $22,676 @ 7.0% cap · market cap 2.67%
Theoretical Best
Specialty Retail
$938.3K
$821.0K – $1.09M
NOI $65,678 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,613
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
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?
Flex space - Air-conditioned offices, open warehouse space, a private bathroom, kitchenette, and designated parking provide a functional commercial layout.
Where is this flex space located?
The property is located at 5520 NW 72nd Ave # 5520 Miami, FL.
What is the asking price?
The asking price for this property is $849,999.
What are key features of this property?
This property features: 1,390 SF flex space with remodeled air‑conditioned offices and open warehouse area; Two separate office areas with individual street entrances; Private bathroom, wood flooring, and kitchenette with refrigerator
