Freestanding Industrial
For Sale
$3,490,000
7440 66th St, Miami, FL 33166
Freestanding 10,720 SF industrial building for sale near Miami International Airport, with option to expand by acquiring next door.
Property Size10,720 SF
Price / SF$325.56
Days on Market50
Property Features for 7440 66th St
General Information
Standard status
Active
Size
10,720 SF
Property subtype
General Commercial
Amenities
3
8 Parking Spaces.
Building Details
Year Built
1974
Listing Agency:
The Hype Real Estate Group Corp
(305) 303-3837
Listed By:
Pablo Vignolo · License #A11940947
(305) 303-3837
Source:
Xome
Added: Jul 7
Changed: Aug 24
Last Checked: Aug 23 at 6:35AM
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 The Hype Real Estate Group Corp
Investment Insights
Based on property information with market context.
Offered for sale, this freestanding industrial building comprises 10,720 SF at 7440 NW 66th St in Miami, FL. The property is positioned for flexible industrial use as either an owner-user asset or an investment holding.
The building is located in the Palmetto Expressway Industrial Corridor within the Doral/Medley submarket, near Miami International Airport. An additional option is available to acquire a neighboring building for a combined total of 27,201 SF.
The building is located in the Palmetto Expressway Industrial Corridor within the Doral/Medley submarket, near Miami International Airport. An additional option is available to acquire a neighboring building for a combined total of 27,201 SF.
Key Highlights
- Freestanding 10,720 SF industrial building built in 1974
- Located in the Palmetto Expressway Industrial Corridor within the Doral/Medley submarket
- Option to expand by acquiring the next‑door building for a combined 27,201 SF
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
$174,880
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
5.01%
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%
$3,497,600
$3.5M
Cap Rate 7%
$2,498,286
$2.5M
Cap Rate 9%
$1,943,111
$1.9M
Market Conditions
NOI Build-Up for 10,720 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
$216.1K $20.16/SF
− Vacancy
−$10.4K −$0.97/SF
EGI
$205.7K $19.19/SF
− OpEx
−$30.9K −$2.88/SF
NOI
$174.9K $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%
$3,497,600
Cap Rate 7%
$2,498,286
Cap Rate 9%
$1,943,111
Alternative Uses
Best Use
Warehouse
$2.50M
$2.19M – $2.91M
NOI $174,880 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.24M
$6.33M – $8.44M
NOI $506,525 @ 7.0% cap · market cap 14.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
157
Businesses Nearby
Under-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?
Warehouse - Freestanding 10,720 SF industrial building for sale near Miami International Airport, with option to expand by acquiring next door.
Where is this warehouse located?
The property is located at 7440 66th St Miami, FL.
What is the asking price?
The asking price for this property is $3,490,000.
What are key features of this property?
This property features: Freestanding 10,720 SF industrial building built in 1974; Located in the Palmetto Expressway Industrial Corridor within the Doral/Medley submarket; Option to expand by acquiring the next‑door building for a combined 27,201 SF
