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Freestanding Industrial Flex Building

651 NW 106th St Miami, FL 33150

New
651 NW 106th St, Miami, FL, 33150
$2,400,000
For Sale
Claim this Listing
$2,400,000

Freestanding industrial flex building with fenced yard and on-site parking on an infill site.

Property Size4,861 SF
Lot Size0.23 Acres
Price / SF$493.73
AddedJul 14
Days on Market2
Last RefreshJul 15 at 2:25 am

Property Features for 651 NW 106th St

General Information

Standard status
Active
Size
4,861 SF
Lot size
0.23 Acres
Property subtype
Industrial

Building Details

Year Built
1964

Listing office 1426 Real Estate LLC D/B/A Keller Williams Coral Gables Realty

Listing date Jul 14, 2026

Source Elliman

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 1426 Real Estate LLC D/B/A Keller Williams Coral Gables Realty


Investment Insights

Based on property information with market context.

Freestanding industrial/flex building totaling approximately 4,861 SF on a 10,053 SF infill site, offered for sale with a fenced yard and on-site parking. The property is currently occupied by the same local business for roughly 50 years; the owner-occupant will vacate at closing, delivering the building vacant for immediate owner-user occupancy or investor lease-up. The established business is also available for purchase separately as a turnkey option.

Located at 651 NW 106th St in Miami, the property is positioned on the NW 7th Avenue corridor with access to major regional routes including I-95, SR-112, and Miami International Airport, as well as the urban core for last-mile connectivity.

This offering is SBA-eligible for qualified owner-users, and the current configuration includes a substantial land component as part of the infill industrial opportunity.

Key Highlights

  • Free‑standing industrial/flex building built in 1964 offering 4,861 SF on a 10,053 SF infill site
  • Fenced yard plus on‑site parking
  • Owner‑occupant will vacate at closing, delivering the building free for immediate owner‑user occupancy or lease‑up

Local Financial Insights For Warehouse

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $98.0k $20.16
− Vacancy −$4.7k −$0.97
EGI $93.3k $19.19
− OpEx −$14.0k −$2.88
NOI $79.3k $16.31
4,861 SF · lease $20.16/SF/yr · vacancy 4.80% · expense 15.00%

Alternative Uses

Best Use
Warehouse
$1.13M
$991.3K – $1.32M (±1% cap)
NOI $79,300 @ 7.0% cap · market cap 3.30%
Second Best
Flex RnD
$1.02M
$891.0K – $1.19M (±1% cap)
NOI $71,282 @ 7.0% cap · market cap 2.97%
Theoretical Best
Specialty Retail
$3.28M
$2.87M – $3.83M (±1% cap)
NOI $229,684 @ 7.0% cap · market cap 9.57%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Location Intelligence

Current Use by Public Records

Happy Endings of Miami, ... (Bike/Boat/Book/etc) Store

Suggested Use

Real Estate Agency Dental Office Building Supply Restaurant Law Firm Big Box & Wholesale Store Spa & Massage Center Gym & Fitness Center Skin Care Clinic Auto Parts Store

Zoning and permitted uses should be independently verified with local authorities.

Similar Off Market Nearby

  • Meat The Veggies — Miami, FL 33147
  • Cliff’s Restaurant & Catering — 10740 NW 7th Ave, Miami, FL 33168

FAQs

What type of property is this?
Flex space - Freestanding industrial flex building with fenced yard and on-site parking on an infill site.
Where is this flex space located?
The property is located at 651 NW 106th St Miami, FL.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Free‑standing industrial/flex building built in 1964 offering 4,861 SF on a 10,053 SF infill site; Fenced yard plus on‑site parking; Owner‑occupant will vacate at closing, delivering the building free for immediate owner‑user occupancy or lease‑up
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