Turnkey Flex Space with Commercial
For Sale
$2,800,000
8000 NW 68th St, Medley, FL 33166
COMMERCIAL - Medley, FL
Property Size5,138 SF
Lot Size0.15 Acres
Price / SF$544.96
Days on Market51
Property Features for 8000 NW 68th St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
7600
Subdivision
28
Standard status
Active
APN
22-30-15-001-0132
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
15 53 40 .15 AC M/L FLA FRUIT LAND CO SUB PB 2-17 BEG 707.50FTE OF NW COR OF TR 10 TH S 88 DEG E 50.33FT S 01 DEG W 164.89FT N 88 DEG W 50.3
Tax Annual Amount
17759
Legal Description
15 53 40 .15 AC M/L FLA FRUIT LAND CO SUB PB 2-17 BEG 707.50FTE OF NW COR OF TR 10 TH S 88 DEG E 50.33FT S 01 DEG W 164.89FT N 88 DEG W 50.3
Building Details
Year built
1992
Building materials
Block
Listing Agency:
Realty One Group Evolution
(786) 477-4715
Listed By:
Zoramir Rodriguez · License #3298151
(786) 333-8243
Added: Jun 24
Changed: Aug 4
Last Checked: Aug 13 at 2:06AM
MLS# A11961021
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.
Turnkey flex space built with block construction (1992) and set up for commercial kitchen and food-service operations. The interior includes a grease trap, commercial kitchen hood, and walk-in cooler already installed. A permanent certificate of occupancy for interior renovation has been issued by Miami-Dade County, with city documentation and certifications available for verification.
The property is sized as a 5,138 SF warehouse space on a 0.1501-acre lot at 8000 NW 68th St in Medley (Miami-Dade County), FL 33166. An ADA-compliant elevator is installed to provide access to the second floor. Electrical service includes 440V with a transformer that allows conversion to 220V.
With the existing commercial kitchen infrastructure and the Miami-Dade permanent certificate of occupancy, the space is positioned to support restaurant, catering, and food production and related commercial kitchen operations requiring ready-to-run buildout.
The property is sized as a 5,138 SF warehouse space on a 0.1501-acre lot at 8000 NW 68th St in Medley (Miami-Dade County), FL 33166. An ADA-compliant elevator is installed to provide access to the second floor. Electrical service includes 440V with a transformer that allows conversion to 220V.
With the existing commercial kitchen infrastructure and the Miami-Dade permanent certificate of occupancy, the space is positioned to support restaurant, catering, and food production and related commercial kitchen operations requiring ready-to-run buildout.
Key Highlights
- 5,138 SF turnkey flex/warehouse space configured for commercial kitchen operations
- Grease trap, commercial kitchen hood, and walk‑in cooler installed
- Permanent certificate of occupancy issued by Miami‑Dade County for interior renovation
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
$113,015
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
4.04%
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%
$2,260,300
$2.3M
Cap Rate 7%
$1,614,500
$1.6M
Cap Rate 9%
$1,255,722
$1.3M
Market Conditions
NOI Build-Up for 5,138 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
$185.0K $36.00/SF
− Vacancy
−$11.1K −$2.16/SF
EGI
$173.9K $33.84/SF
− OpEx
−$60.9K −$11.84/SF
NOI
$113.0K $22.00/SF
Area
Miami-Dade County, FL
Vacancy
6.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
35.00%
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%
$2,260,300
Cap Rate 7%
$1,614,500
Cap Rate 9%
$1,255,722
Alternative Uses
Best Use
Flex RnD
$1.61M
$1.41M – $1.88M
NOI $113,015 @ 7.0% cap · market cap 4.04%
Second Best
Specialty Retail
$1.41M
$1.24M – $1.65M
NOI $98,912 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$2.61M
$2.28M – $3.04M
NOI $182,471 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,037
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 South region
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 - Flex space with a walk-in cooler, grease trap, and commercial kitchen hood, plus 440V electrical service.
Where is this flex space located?
The property is located at 8000 NW 68th St Medley, FL.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 5,138 SF turnkey flex/warehouse space configured for commercial kitchen operations; Grease trap, commercial kitchen hood, and walk‑in cooler installed; Permanent certificate of occupancy issued by Miami‑Dade County for interior renovation
