Flex Space with Warehouse
For Sale
Under Contract
$780,000
7344 NW 56th St, Miami, FL 33166
Commercial Sale, Miami, FL
Property Size2,400 SF
Lot Size0.06 Acres
Price / SF$325
Days on Market61
Property Features for 7344 NW 56th St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
7300
Parking
1
Parking features
Assigned
Security features
Security System
Subdivision
31
Standard status
Active Under Contract
APN
30-30-23-039-0280
Lot size
0.06 Acres
Taxes and HOA fees
Tax Description
MIAMI AIR/WEST TRADE CENTER CONDO UNIT 7344 UNDIV 1/72 INT IN COMMON ELEMENTS OFF REC 16995-0094 OR 17123-3733 0296 1 COC 23940-2522 11 2005
Tax Annual Amount
7682
HOA Fee
$519 Monthly
Legal Description
MIAMI AIR/WEST TRADE CENTER CONDO UNIT 7344 UNDIV 1/72 INT IN COMMON ELEMENTS OFF REC 16995-0094 OR 17123-3733 0296 1 COC 23940-2522 11 2005
Building Details
Year built
1973
Floors in Building
1
Flooring type
Laminate, Concrete
Building materials
Block
Roof type
Concrete
Listing Agency:
Bari Realty Group
(305) 848-2274
Listed By:
Simon Cruz · License #3243557
(305) 848-2274
Added: Jun 30
Changed: Aug 26
Last Checked: Aug 29 at 4:06PM
MLS# A11953313
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 flex space includes approximately 2,200 square feet of warehouse area and approximately 200 square feet of office area. The building offers 18- to 22-foot clear ceiling heights, one bathroom, concrete and laminate flooring, block construction, and a concrete roof. Three-phase power supports the property’s industrial configuration, while assigned parking and additional visitor parking are available.
The property is located at 7344 NW 56th St in Miami, with access to Doral, the Palmetto Expressway (SR-826), and Miami International Airport. Built in 1973, the building provides a combination of warehouse and office space within a compact commercial property.
The property is located at 7344 NW 56th St in Miami, with access to Doral, the Palmetto Expressway (SR-826), and Miami International Airport. Built in 1973, the building provides a combination of warehouse and office space within a compact commercial property.
Key Highlights
- Approximately 2,200+/- SqFt of warehouse area
- Approximately 200+/- SqFt of office area
- 18'-22' clear ceiling height
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
$39,152
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
5.02%
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%
$783,040
$783.0K
Cap Rate 7%
$559,314
$559.3K
Cap Rate 9%
$435,022
$435.0K
Market Conditions
NOI Build-Up for 2,400 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
$48.4K $20.16/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$46.1K $19.19/SF
− OpEx
−$6.9K −$2.88/SF
NOI
$39.2K $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%
$783,040
Cap Rate 7%
$559,314
Cap Rate 9%
$435,022
Alternative Uses
Best Use
Warehouse
$559.3K
$489.4K – $652.5K
NOI $39,152 @ 7.0% cap · market cap 5.02%
Second Best
Flex RnD
$502.8K
$439.9K – $586.6K
NOI $35,194 @ 7.0% cap · market cap 4.51%
Theoretical Best
Specialty Retail
$1.62M
$1.42M – $1.89M
NOI $113,401 @ 7.0% cap · market cap 14.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,328
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 Industrial in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Block construction combines warehouse and office areas with three-phase power and assigned parking.
Where is this flex space located?
The property is located at 7344 NW 56th St Miami, FL.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: Approximately 2,200+/- SqFt of warehouse area; Approximately 200+/- SqFt of office area; 18'-22' clear ceiling height
