Flex Space with Warehouse
For Sale
$780,000
7344 NW 56th Street #7344, Miami, FL 33166
Mixed warehouse and office configuration with three-phase power and shared visitor parking.
Property Size2,400 SF
Price / SF$325
Days on Market83
Property Features for 7344 NW 56th Street #7344
General Information
Standard status
Active
Size
2,400 SF
Total Parking Spaces
1
Property subtype
Commercial
Warehouse & Industrial
Clear Height
22 ft
Warehouse Space
2,200 SF
Office Build-Out
200 SF
Three-Phase Power
Yes
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,682
Amenities
Assigned
Concrete Flooring
Concrete Roof
Laminate Flooring
Building Details
Year Built
1973
Listing Agency:
BARI REALTY GROUP
(305) 848-2274
Listed By:
SIMON B CRUZ · License #A11953313
Source:
Corcoran
Added: Jun 9
Changed: Aug 30
Last Checked: Aug 30 at 3:15AM
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 BARI REALTY GROUP
Investment Insights
Based on property information with market context.
This flex space combines approximately 2,200+/- SqFt of warehouse area with 200+/- SqFt of office area and one bathroom. The building provides 18'-22' clear ceiling height and three-phase electrical service, supporting a range of warehouse and office operations.
One assigned parking space is included, along with additional visitor parking. The property is near Doral, the Palmetto Expressway (SR-826), and Miami Airport. Built in 1973, the facility offers a compact industrial configuration with dedicated office support.
One assigned parking space is included, along with additional visitor parking. The property is near Doral, the Palmetto Expressway (SR-826), and Miami Airport. Built in 1973, the facility offers a compact industrial configuration with dedicated office support.
Key Highlights
- 2,200+/- SqFt warehouse area
- 200+/- SqFt offices 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
$68,850
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
8.83%
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%
$1,377,000
$1.4M
Cap Rate 7%
$983,571
$983.6K
Cap Rate 9%
$765,000
$765.0K
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
$108.0K $45.00/SF
− Vacancy
−$16.2K −$6.75/SF
EGI
$91.8K $38.25/SF
− OpEx
−$23.0K −$9.56/SF
NOI
$68.9K $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%
$1,377,000
Cap Rate 7%
$983,571
Cap Rate 9%
$765,000
Alternative Uses
Best Use
Office B
$983.6K
$860.6K – $1.15M
NOI $68,850 @ 7.0% cap · market cap 8.83%
Second Best
Warehouse
$559.3K
$489.4K – $652.5K
NOI $39,152 @ 7.0% cap · market cap 5.02%
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 Office in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Mixed warehouse and office configuration with three-phase power and shared visitor parking.
Where is this flex space located?
The property is located at 7344 NW 56th Street #7344 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: 2,200+/- SqFt warehouse area; 200+/- SqFt offices area; 18'-22' clear ceiling height
