Land Parcel with Existing One-Level
For Sale
$3,400,000
611 NW 11th St, Miami, FL 33136
LAND - Miami, FL
Property Size7,510 SF
Lot Size0.22 Acres
Price / SF$452.73
Days on Market57
Property Features for 611 NW 11th St
General Information
Property type
Land
Property subtype
Other
Zoning description
D1
Subdivision
MIAMI NORTH
Standard status
Active
APN
01-01-01-000-1011
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
MIAMI NORTH PB B-41 LOT 3 BLK 10 LESS BEG NE COR OF LOT 3 TH W99.97FT S 02 DEG E 10.21FT ELY77.62FT E22.40FT N 02 DEG W 7.06FT TO POB LOT SI
Tax Annual Amount
15950
Legal Description
MIAMI NORTH PB B-41 LOT 3 BLK 10 LESS BEG NE COR OF LOT 3 TH W99.97FT S 02 DEG E 10.21FT ELY77.62FT E22.40FT N 02 DEG W 7.06FT TO POB LOT SI
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Water source
Public
Listing Agency:
Florida Realty of Miami Corp
(305) 598-5488
Listed By:
Edwin Ballon · License #3232777
(786) 263-8901
Added: Jun 17
Changed: Jun 30
Last Checked: Aug 12 at 1:06PM
MLS# A11985331
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This offering is for a land parcel in Miami, FL that includes an existing 7,510 SF CBS one-level building. The seller’s remarks also indicate survey availability, supporting due diligence for any redevelopment planning.
According to the listing, this lot must be sold together with the adjacent lot located at 601 NW 11 St (MLS A11985308). The property is described as being in the heart of Miami near the Metro Rail station and I-95.
For buyers considering redevelopment, the remarks describe a development concept that includes a seven-level building plus a mixed-use tower with 40% residential use structured as workforce housing, subject to City of Miami zoning codes and standards. As presented, this makes the site relevant for investors or developers looking to evaluate a multi-phase or combined-lot approach, while accounting for required compliance and approvals before proceeding.
According to the listing, this lot must be sold together with the adjacent lot located at 601 NW 11 St (MLS A11985308). The property is described as being in the heart of Miami near the Metro Rail station and I-95.
For buyers considering redevelopment, the remarks describe a development concept that includes a seven-level building plus a mixed-use tower with 40% residential use structured as workforce housing, subject to City of Miami zoning codes and standards. As presented, this makes the site relevant for investors or developers looking to evaluate a multi-phase or combined-lot approach, while accounting for required compliance and approvals before proceeding.
Key Highlights
- Utilities available: public water and public sewer.
- Existing building on‑site: 7,510 SF CBS, one level.
- Survey is available.
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
$122,514
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
3.60%
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%
$2,450,280
$2.5M
Cap Rate 7%
$1,750,200
$1.8M
Cap Rate 9%
$1,361,267
$1.4M
Market Conditions
NOI Build-Up for 7,510 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
$151.4K $20.16/SF
− Vacancy
−$7.3K −$0.97/SF
EGI
$144.1K $19.19/SF
− OpEx
−$21.6K −$2.88/SF
NOI
$122.5K $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%
$2,450,280
Cap Rate 7%
$1,750,200
Cap Rate 9%
$1,361,267
Alternative Uses
Best Use
Warehouse
$1.75M
$1.53M – $2.04M
NOI $122,514 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.07M
$4.44M – $5.91M
NOI $354,851 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,166
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33136, FL
15,439
Population
7,994
Households
1.9
Avg Household Size
36
Median Age
25%
College-Educated
73%
High-School Grad
1.4 sq mi
ZIP Area
11,028
Density / Sq Mi
$43,481
Median Household Income
$34,130
Median Earnings
$1,337
Median Rent
$352,700
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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Frequently Asked Questions
What type of property is this?
Warehouse - Buildable Miami parcel sold with an adjacent lot, featuring an existing one-level CBS building.
Where is this warehouse located?
The property is located at 611 NW 11th St Miami, FL.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: Utilities available: public water and public sewer.; Existing building on‑site: 7,510 SF CBS, one level.; Survey is available.
