Doral Warehouse/Office Bays For
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1357 NW 88th Ave, Doral, FL 33172
Ten warehouse/office bays with flexible lease terms in Doral.
Property Size25,545 SF
Price / SF$332.75
Days on Market792
Property Features for 1357 NW 88th Ave
General Information
Standard status
Active
Size
25,545 SF
Total Parking Spaces
31
Property subtype
Industrial
Building Details
Year Built
1973
Buildings
1
Listing Agency:
The Katsikos Group, Inc.
Listed By:
Martha Rodriguez · License #0678410
(305) 717-1880
Source:
Crexi
Added: Jul 3, 2024
Changed: Aug 8
Last Checked: Aug 31 at 5:06AM
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.
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 = 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
$334,870
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
3.94%
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%
$6,697,400
$6.7M
Cap Rate 7%
$4,783,857
$4.8M
Cap Rate 9%
$3,720,778
$3.7M
Market Conditions
NOI Build-Up for 25,545 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
$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 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%
$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
NOI $334,870 @ 7.0% cap · market cap 3.94%
Second Best
Industrial
$3.94M
$3.45M – $4.60M
NOI $275,776 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$12.96M
$11.34M – $15.12M
NOI $907,204 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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.
