Two-Building Warehouse
New
For Sale
$7,000,000
5640-5646 NW 35 Court, Miami, FL 33147
Two connected warehouse buildings can operate independently and include dock loading, sewer, and three-phase power.
Property Size31,609 SF
Lot Size1.58 Acres
Price / SF$221.46
Days on Market5
Property Features for 5640-5646 NW 35 Court
General Information
Standard status
Active
Size
31,609 SF
Lot size
1.58 Acres
Property subtype
Industrial
Warehouse & Industrial
Clear Height
14 ft
Warehouse Space
31,609 SF
Dock-High Doors
6
Power
2,400 amps
Three-Phase Power
Yes
Additional Details
Outdoor Storage
Yes
Building Details
Building Size
31,609 SF
Year Built
1950
Buildings
2
Listing Agency:
SVN Commercial Realty
(954) 448-8531
Listed By:
Joel A. Kattan, SIOR · License #3245917
(954) 448-8531
Source:
Svn
Added: Aug 8
Changed: Aug 11
Last Checked: Aug 11 at 6:32AM
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 SVN Commercial Realty
Investment Insights
Based on property information with market context.
The property includes two warehouse buildings totaling approximately 31,609 SF on approximately 1.58 AC. The 5640 NW 35th CT building contains approximately 14,600 SF, while the 5646 NW 35th CT building contains approximately 17,009 SF. A breezeway with a loading dock connects the structures, while each building can function independently. The improvements date to 1950 and offer 14' clear height, three-phase electric service, and 2,400 Amps in total.
The offering includes a third folio containing an approximately 23,000 SF yard. Loading infrastructure consists of six dock doors, including one served by a concrete ramp and loading platform. The property is located at 5640-5646 NW 35 Court in Miami, Florida, and is connected to sewer.
The offering includes a third folio containing an approximately 23,000 SF yard. Loading infrastructure consists of six dock doors, including one served by a concrete ramp and loading platform. The property is located at 5640-5646 NW 35 Court in Miami, Florida, and is connected to sewer.
Key Highlights
- Two warehouse buildings total approximately 31,609 SF
- Approximately 1.58 AC across three folios, including an approximately 23,000 SF yard
- Separate buildings of approximately 14,600 SF and approximately 17,009 SF
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
$515,653
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
7.37%
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%
$10,313,060
$10.3M
Cap Rate 7%
$7,366,471
$7.4M
Cap Rate 9%
$5,729,478
$5.7M
Market Conditions
NOI Build-Up for 31,609 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
$637.2K $20.16/SF
− Vacancy
−$30.6K −$0.97/SF
EGI
$606.7K $19.19/SF
− OpEx
−$91.0K −$2.88/SF
NOI
$515.7K $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 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%
$10,313,060
Cap Rate 7%
$7,366,471
Cap Rate 9%
$5,729,478
Alternative Uses
Best Use
Warehouse
$7.37M
$6.45M – $8.59M
NOI $515,653 @ 7.0% cap · market cap 7.37%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$21.34M
$18.67M – $24.89M
NOI $1,493,539 @ 7.0% cap · market cap 21.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
14 ft
Clear height
6
Dock-high doors
Location Intelligence
Trade Area within ½ mile
1,388
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33147, FL
48,823
Population
16,220
Households
3
Avg Household Size
39
Median Age
15%
College-Educated
77%
High-School Grad
7.2 sq mi
ZIP Area
6,781
Density / Sq Mi
$47,728
Median Household Income
$33,385
Median Earnings
$1,359
Median Rent
$301,300
Median Home Value
Market
Vacancy Rate% for Industrial in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Warehouse - Two connected warehouse buildings can operate independently and include dock loading, sewer, and three-phase power.
Where is this warehouse located?
The property is located at 5640-5646 NW 35 Court Miami, FL.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: Two warehouse buildings total approximately 31,609 SF; Approximately 1.58 AC across three folios, including an approximately 23,000 SF yard; Separate buildings of approximately 14,600 SF and approximately 17,009 SF
