New Warehouse with Office
For Sale
$3,532,650
6700 NE 2nd Ct 4, Miami, FL 33138
6,220 sq ft warehouse with office, AC, and elevator.
Property Size6,225 SF
Price / SF$567.95
Days on Market157
Property Features for 6700 NE 2nd Ct 4
General Information
Standard status
Active
Size
6,225 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$24,317
Building Details
Building Size
6,225 SF
Year Built
2023
Listing Agency:
Metro 1
(305) 972-8860
Listed By:
Irene Dakota · License #3062153
(305) 972-8860
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 12:06PM
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 Metro 1
Investment Insights
Based on property information with market context.
This brand-new 6,220 sq ft warehouse includes an upstairs office area featuring two private offices, a large open space, a kitchenette, and a bathroom. Impact windows surround the office area. The warehouse has 30 ft ceilings, full AC, and three large street-level overhead doors. A mezzanine provides additional space. The ground floor includes a bathroom and shower. A handicapped elevator is installed. The space is suitable for a showroom, car storage, e-commerce business, importer, exporter, or wine business. This warehouse is located in a four-unit condominium campus.
Key Highlights
- 6,220 sq ft brand‑new warehouse space suitable for various businesses
- Fully air‑conditioned warehouse with 30 ft ceilings and three large street‑level overhead doors
- Upstairs office area includes two private offices, a large open space, kitchenette, and bathroom
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
$178,436
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
5.05%
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%
$3,568,720
$3.6M
Cap Rate 7%
$2,549,086
$2.5M
Cap Rate 9%
$1,982,622
$2.0M
Market Conditions
NOI Build-Up for 6,220 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
$279.9K $45.00/SF
− Vacancy
−$42.0K −$6.75/SF
EGI
$237.9K $38.25/SF
− OpEx
−$59.5K −$9.56/SF
NOI
$178.4K $28.69/SF
Area
Miami, FL
Vacancy
15.00%
Lease Rate
$45.00 /SF/Yr
Expense Ratio
25.00%
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%
$3,568,720
Cap Rate 7%
$2,549,086
Cap Rate 9%
$1,982,622
Alternative Uses
Best Use
Office B
$2.55M
$2.23M – $2.97M
NOI $178,436 @ 7.0% cap · market cap 5.05%
Second Best
Warehouse
$1.45M
$1.27M – $1.69M
NOI $101,470 @ 7.0% cap · market cap 2.87%
Theoretical Best
Specialty Retail
$4.20M
$3.67M – $4.90M
NOI $293,898 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,137
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33138, FL
27,601
Population
14,310
Households
1.9
Avg Household Size
43
Median Age
47%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
6,572
Density / Sq Mi
$71,518
Median Household Income
$52,853
Median Earnings
$1,647
Median Rent
$686,300
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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- Offshore Boat & Jet-ski Storage — 810 NW 72nd St, Miami, FL 33150
Frequently Asked Questions
What type of property is this?
Warehouse - 6,220 sq ft warehouse with office, AC, and elevator.
Where is this warehouse located?
The property is located at 6700 NE 2nd Ct 4 Miami, FL.
What is the asking price?
The asking price for this property is $3,532,650.
What are key features of this property?
This property features: 6,220 sq ft brand‑new warehouse space suitable for various businesses; Fully air‑conditioned warehouse with 30 ft ceilings and three large street‑level overhead doors; Upstairs office area includes two private offices, a large open space, kitchenette, and bathroom
