Flex Industrial Building with
For Sale
$2,850,000
625 NW 121st Street, North Miami, FL 33168
Two-story office-over-warehouse with direct I-95 frontage and space available for immediate leasing or owner use.
Property Size6,020 SF
Lot Size0.16 Acres
Price / SF$473.42
Days on Market48
Property Features for 625 NW 121st Street
General Information
Standard status
Active
Size
6,020 SF
Lot size
0.16 Acres
Property subtype
Land
Zoning
6100
Occupancy
42%
Site & Location
Traffic Count
250,000 vehicles/day
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$21,506
Building Details
Stories
2
Listing Agency:
Silmar Realty
(516) 580-2329
Listed By:
Leor Fidler · License #3502040
(516) 580-2329
Source:
Laerrealty
Added: Jul 6
Changed: Aug 14
Last Checked: Aug 22 at 3:53AM
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 Silmar Realty
Investment Insights
Based on property information with market context.
625 NW 121st Street is a two-story flex/industrial facility configured with office space above and warehouse space below. The property includes a building of 6,020 square feet on a 6,750 square foot lot and is positioned for businesses needing both operational space and dedicated office functionality. Currently, 2,500 square feet is leased, and an additional 3,520 square feet remains available for lease or can support immediate owner-user occupancy.
The building offers direct frontage along I-95, providing high-visibility exposure to over 250,000 vehicles per day. That access profile can support showroom, service, and industrial uses that benefit from drivers passing the site.
With existing income from the leased portion and additional space available for lease or for an owner to occupy, the property can fit a range of tenants and buyers, including industrial operators seeking office support and businesses that want a flexible layout for showroom or service-oriented operations. The combination of office/warehouse separation and prominent corridor frontage is designed to support daily operations while maintaining a distinct work-and-client space relationship.
The building offers direct frontage along I-95, providing high-visibility exposure to over 250,000 vehicles per day. That access profile can support showroom, service, and industrial uses that benefit from drivers passing the site.
With existing income from the leased portion and additional space available for lease or for an owner to occupy, the property can fit a range of tenants and buyers, including industrial operators seeking office support and businesses that want a flexible layout for showroom or service-oriented operations. The combination of office/warehouse separation and prominent corridor frontage is designed to support daily operations while maintaining a distinct work-and-client space relationship.
Key Highlights
- 6,020 SF two‑story office‑over‑warehouse building with direct frontage along I‑95
- Frontage provides visibility to 250,000+ vehicles per day
- 6,750 SF lot with direct I‑95 access
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
$132,416
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
4.65%
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%
$2,648,320
$2.6M
Cap Rate 7%
$1,891,657
$1.9M
Cap Rate 9%
$1,471,289
$1.5M
Market Conditions
NOI Build-Up for 6,020 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
$216.7K $36.00/SF
− Vacancy
−$13.0K −$2.16/SF
EGI
$203.7K $33.84/SF
− OpEx
−$71.3K −$11.84/SF
NOI
$132.4K $22.00/SF
Area
Miami-Dade County, FL
Vacancy
6.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
35.00%
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%
$2,648,320
Cap Rate 7%
$1,891,657
Cap Rate 9%
$1,471,289
Alternative Uses
Best Use
Flex RnD
$1.89M
$1.66M – $2.21M
NOI $132,416 @ 7.0% cap · market cap 4.65%
Second Best
Warehouse
$1.13M
$986.5K – $1.32M
NOI $78,916 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$3.05M
$2.67M – $3.56M
NOI $213,794 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
250,000 VPD
Traffic count
41.5%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,429
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33168, FL
24,715
Population
6,761
Households
3.7
Avg Household Size
39
Median Age
16%
College-Educated
79%
High-School Grad
3.6 sq mi
ZIP Area
6,865
Density / Sq Mi
$58,636
Median Household Income
$31,984
Median Earnings
$1,576
Median Rent
$329,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two-story office-over-warehouse with direct I-95 frontage and space available for immediate leasing or owner use.
Where is this flex space located?
The property is located at 625 NW 121st Street North Miami, FL.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: 6,020 SF two‑story office‑over‑warehouse building with direct frontage along I‑95; Frontage provides visibility to 250,000+ vehicles per day; 6,750 SF lot with direct I‑95 access
