Flex Space Industrial Condo with Roll-Up
For Sale
$484,900
7215 NW 41st St, Miami, FL 33166
COMMERCIAL - Miami, FL
Property Size1,320 SF
Lot Size0.03 Acres
Price / SF$367.35
Days on Market47
Property Features for 7215 NW 41st St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
7300
Parking features
Assigned
Subdivision
30
Standard status
Active
APN
30-30-23-043-0080
Lot size
0.03 Acres
Taxes and HOA fees
Tax Description
CALERO WAREHOUSE CONDO UNIT H UNDIV 7.46% INT IN COMMON ELEMENTS OFF REC 20613-0425 OR 21186-1561 0403 1
Tax Annual Amount
3605
Legal Description
CALERO WAREHOUSE CONDO UNIT H UNDIV 7.46% INT IN COMMON ELEMENTS OFF REC 20613-0425 OR 21186-1561 0403 1
Utilities
Heating system
Central, Electric (Heating)
Building Details
Year built
1980
Building materials
Block
Listing Agency:
Miami New Realty
(305) 485-3100
Listed By:
Ranghiv Acurero Almeida · License #3656654
(305) 464-8600
Added: Jun 27
Changed: Aug 4
Last Checked: Aug 12 at 3:06AM
MLS# A12044169
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.
Small-bay flex space industrial condo, Unit H, at Calero Warehouse. The 1,320 SF office-warehouse includes high ceilings, a street-level roll-up door, and one bathroom, supported by central electric heating. Two assigned parking spaces are included.
Unit H is located within a gated complex and offers quick access to MIA, SR-826, and SR-836. The property is currently tenant occupied on a month-to-month basis, and is offered sold as-is. Appointments are required and do not disturb the occupant.
Built in 1980, the block construction condo is suited for logistics, e-commerce, or light distribution users seeking an industrial space with an office component and direct roll-up access.
Unit H is located within a gated complex and offers quick access to MIA, SR-826, and SR-836. The property is currently tenant occupied on a month-to-month basis, and is offered sold as-is. Appointments are required and do not disturb the occupant.
Built in 1980, the block construction condo is suited for logistics, e-commerce, or light distribution users seeking an industrial space with an office component and direct roll-up access.
Key Highlights
- Unit H small‑bay office‑warehouse condo with 1,320 SF total area
- Street‑level roll‑up door and high ceilings
- 1 bathroom and central electric heating
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
$37,868
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
7.81%
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%
$757,360
$757.4K
Cap Rate 7%
$540,971
$541.0K
Cap Rate 9%
$420,756
$420.8K
Market Conditions
NOI Build-Up for 1,320 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
$59.4K $45.00/SF
− Vacancy
−$8.9K −$6.75/SF
EGI
$50.5K $38.25/SF
− OpEx
−$12.6K −$9.56/SF
NOI
$37.9K $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%
$757,360
Cap Rate 7%
$540,971
Cap Rate 9%
$420,756
Alternative Uses
Best Use
Office B
$541.0K
$473.4K – $631.1K
NOI $37,868 @ 7.0% cap · market cap 7.81%
Second Best
Warehouse
$307.6K
$269.2K – $358.9K
NOI $21,534 @ 7.0% cap · market cap 4.44%
Theoretical Best
Specialty Retail
$891.0K
$779.6K – $1.04M
NOI $62,371 @ 7.0% cap · market cap 12.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,446
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33166, FL
26,106
Population
10,838
Households
2.4
Avg Household Size
41
Median Age
42%
College-Educated
83%
High-School Grad
7.9 sq mi
ZIP Area
3,305
Density / Sq Mi
$78,166
Median Household Income
$39,744
Median Earnings
$1,766
Median Rent
$489,200
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.
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Frequently Asked Questions
What type of property is this?
Flex space - Small-bay office-warehouse condo in a gated complex with a street-level roll-up door and two assigned parking spaces.
Where is this flex space located?
The property is located at 7215 NW 41st St Miami, FL.
What is the asking price?
The asking price for this property is $484,900.
What are key features of this property?
This property features: Unit H small‑bay office‑warehouse condo with 1,320 SF total area; Street‑level roll‑up door and high ceilings; 1 bathroom and central electric heating
