Two-Building Warehouse
For Sale
Contact for pricing
5646 Northwest 35th Court, Miami, FL 33142
Two-building warehouse property with yard space, dock loading, and M-2 zoning.
Property Size31,609 SF
Price / SF$221.46
Days on Market8
Property Features for 5646 Northwest 35th Court
General Information
Standard status
Active
Size
31,609 SF
Property subtype
Industrial
Zoning
M-2
Building Details
Year Built
1950
Buildings
2
Listing Agency:
SVN Commercial Realty
(305) 509-0412
Listed By:
Joel Kattan, SIOR · License #FL 674519
Source:
Crexi
Added: Aug 4
Changed: Aug 10
Last Checked: Aug 10 at 3:13AM
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.
This warehouse property comprises two buildings totaling ±31,609 SF. Building 5640 contains ±14,600 SF, while Building 5646 provides ±17,009 SF. The improvements include 14' clear height, three-phase electric service with 2,400 amps total, and six dock doors. One dock is equipped with a concrete ramp and loading platform.
The property encompasses ±1.58 AC at 5646 Northwest 35th Court in Miami, Florida. M-2 zoning supports its industrial classification, and the site is connected to sewer. A yard area is also identified with the warehouse offering, adding outdoor space to the two-building configuration.
The property encompasses ±1.58 AC at 5646 Northwest 35th Court in Miami, Florida. M-2 zoning supports its industrial classification, and the site is connected to sewer. A yard area is also identified with the warehouse offering, adding outdoor space to the two-building configuration.
Key Highlights
- ±31,609 SF across two warehouse buildings
- ±1.58 AC site at 5646 Northwest 35th Court
- ±14,600 SF building at 5640 and ±17,009 SF building at 5646
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
Industrial
$6.07M
$5.31M – $7.08M
NOI $424,655 @ 7.0% cap · market cap 6.07%
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,489
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
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.
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- Prime Storage — 1000 Hialeah Dr, Hialeah, FL 33010
- GRM Information Management — 4495 NW 37th Ave, Miami, FL 33142
Frequently Asked Questions
What type of property is this?
Warehouse - Two-building warehouse property with yard space, dock loading, and M-2 zoning.
Where is this warehouse located?
The property is located at 5646 Northwest 35th 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: ±31,609 SF across two warehouse buildings; ±1.58 AC site at 5646 Northwest 35th Court; ±14,600 SF building at 5640 and ±17,009 SF building at 5646
