Building Details

Year Built 1973

Buildings 1

Listing Agency: The Katsikos Group, Inc.

Listed By: Martha Rodriguez · License #0678410 Show Phone

Source: Crexi

Added: Jul 3, 2024 Changed: Oct 7 Last Checked: Oct 20 at 7:56PM

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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 Katsikos Group, Inc.

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This commercial property features ten office/warehouse bays, including six bays of approximately 2,700 square feet and four bays of approximately 2,400 square feet. Each bay includes a small office area and restroom. Eight units are currently leased on a month-to-month basis. The property is individually metered for water and electric, and tenants are responsible for their own garbage disposal. Each bay has an 18-foot clear ceiling height and one street-level front loading door. There are 31 total parking spaces available. A small outside storage yard area is located next to Unit 1359.

Key Highlights

• Ten office/warehouse bays for diverse leasing.
• Eight units currently leased month‑to‑month, offering immediate income and flexibility.
• Individually metered for water and electric, simplifying tenant billing.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$334,870

Cap Rate

3.94%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$6,697,400 $6.7M

Cap Rate 7%

$4,783,857 $4.8M

Cap Rate 9%

$3,720,778 $3.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 25,545 SF

Gross rent

$416.9K $16.32/SF

− Vacancy

−$22.9K −$0.90/SF

EGI

$394.0K $15.42/SF

− OpEx

−$59.1K −$2.31/SF

NOI

$334.9K $13.11/SF

Area

Miami-Dade County, FL

Vacancy

5.50%

Lease Rate

$16.32 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$6,697,400

Cap Rate 7%

$4,783,857

Cap Rate 9%

$3,720,778

Alternative Uses

Best Use

Warehouse

$4.78M

$4.19M – $5.58M (±1% cap)

NOI $334,870 @ 7.0% cap · market cap 3.94%

Second Best

Industrial

$3.94M

$3.45M – $4.60M (±1% cap)

NOI $275,776 @ 7.0% cap · market cap 3.24%

Theoretical Best

Office A

$12.96M

$11.34M – $15.12M (±1% cap)

NOI $907,204 @ 7.0% cap · market cap 10.67%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Warehouses

Suggested Use

Top Pick Parking Lot & Garage Barber Shop Daycare Center Garden Center Dental Office (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

3,883

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 33172, FL

43,911

Population

16,103

Households

2.7

Avg Household Size

42

Median Age

32%

College-Educated

75%

High-School Grad

6.4 sq mi

ZIP Area

6,861

Density / Sq Mi

$61,733

Median Household Income

$35,061

Median Earnings

$1,926

Median Rent

$260,200

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Similar Off Market Nearby

• Public Storage — 10821 NW 14th St, Miami, FL 33172
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Frequently Asked Questions

What type of property is this?

Warehouse - Ten warehouse/office bays with flexible lease terms in Doral.

Where is this warehouse located?

The property is located at 1357 NW 88th Ave Doral, FL.

What is the asking price?

The asking price for this property is $8,500,000.

What are key features of this property?

This property features: Ten office/warehouse bays for diverse leasing.; Eight units currently leased month‑to‑month, offering immediate income and flexibility.; Individually metered for water and electric, simplifying tenant billing.