Renovated Warehouse with
For Sale
$17,000,000
775 NW 71st St, Miami, FL 33150
Renovated warehouse featuring office, showroom, and multiple loading options.
Property Size54,988 SF
Price / SF$309.16
Days on Market160
Property Features for 775 NW 71st St
General Information
Standard status
Active
Size
54,988 SF
Building Details
Year Built
1952
Listing Agency:
E. L. S. Realty Corp.
(786) 367-3569
Listed By:
Edward Schmidt · License #BK618278
Source:
Mymiahomes
Added: Mar 26
Changed: Aug 26
Last Checked: Aug 30 at 8:37PM
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 E. L. S. Realty Corp.
Investment Insights
Based on property information with market context.
This commercial property features a 4,986 square-foot office and showroom space, along with a 3,865 square-foot mezzanine. The warehouse section offers varied loading capabilities. The east side has one van-height door, with the potential to reopen two additional van-height doors. The west side is equipped with three oversized doors providing three dock positions and one large ramp. The property includes a foreman’s office and boasts a 20-foot clear ceiling height. Heavy power is available. Recent renovations include a new roof, new warehouse windows, updated bathrooms, offices, and showroom. The building is fully sprinklered and has completed a recent 40-year certification. The total property size is 55,000 square feet.
Key Highlights
- Recent Renovations: Includes new roof, warehouse windows, bathrooms, offices, and showroom.
- Versatile Loading Options: Features three oversized dock doors and one large ramp on the west side, plus van‑height doors on the east side.
- 20’ clear ceiling height suitable for various uses.
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
$897,045
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
5.28%
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%
$17,940,900
$17.9M
Cap Rate 7%
$12,814,929
$12.8M
Cap Rate 9%
$9,967,167
$10.0M
Market Conditions
NOI Build-Up for 54,988 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
$1.11M $20.16/SF
− Vacancy
−$53.2K −$0.97/SF
EGI
$1.06M $19.19/SF
− OpEx
−$158.3K −$2.88/SF
NOI
$897.0K $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%
$17,940,900
Cap Rate 7%
$12,814,929
Cap Rate 9%
$9,967,167
Alternative Uses
Best Use
Retail
$25.63M
$22.43M – $29.90M
NOI $1,794,021 @ 7.0% cap · market cap 10.55%
Second Best
Warehouse
$12.81M
$11.21M – $14.95M
NOI $897,045 @ 7.0% cap · market cap 5.28%
Theoretical Best
Specialty Retail
$37.12M
$32.48M – $43.30M
NOI $2,598,208 @ 7.0% cap · market cap 15.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,042
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33150, FL
28,703
Population
12,403
Households
2.3
Avg Household Size
37
Median Age
14%
College-Educated
75%
High-School Grad
3.5 sq mi
ZIP Area
8,201
Density / Sq Mi
$40,802
Median Household Income
$32,359
Median Earnings
$1,179
Median Rent
$377,700
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Warehouse - Renovated warehouse featuring office, showroom, and multiple loading options.
Where is this warehouse located?
The property is located at 775 NW 71st St Miami, FL.
What is the asking price?
The asking price for this property is $17,000,000.
What are key features of this property?
This property features: Recent Renovations: Includes new roof, warehouse windows, bathrooms, offices, and showroom.; Versatile Loading Options: Features three oversized dock doors and one large ramp on the west side, plus van‑height doors on the east side.; 20’ clear ceiling height suitable for various uses.
