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    7401 1St Pl Miami, FL 33138

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    For Lease
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    15,750 SF Industrial Lot, Little River

    Lot size:
    15,750 SF

    Property Features for 7401 1St Pl

    General Information

    Property type
    Land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    15,750 SF

    Spaces For Lease

    at 7401 1St Pl, Miami, FL 33138 Contact us
    Unit

    $8 /Mo

    Size
    15,750 SF
    Contact us

    We can help!

    Listing Contact
    George Belesis
    George Belesis

    Listing Agency: DWNTWN Realty Advisors Listing Agent: George Belesis

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 15,750-square-foot industrial lot is ideally situated in Little River's thriving industrial submarket, a block west of NE 2nd Avenue. The property boasts a prime location, offering convenient access to I-95 and proximity to the Design District, Midtown, and Wynwood. Zoned D2, this land is perfectly suited for a variety of industrial outdoor storage uses. Permitted uses include, but are not limited to, container yards, warehousing, distribution centers, equipment rentals, and even build-to-suit projects. The flexible zoning allows for businesses offering long-term or short-term storage, selling, or distribution of merchandise. Consider this location for heavy equipment sales and service, storage of building materials, or even a unique concept like an outdoor market or sports facility. This versatile lot presents a significant opportunity for businesses seeking a strategic location in a rapidly developing area. The property's size and zoning make it an attractive investment for entrepreneurs and established companies alike. Its central location provides easy access to major transportation arteries and a vibrant urban environment. This is a rare opportunity to acquire a substantial industrial lot in a high-demand area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.193688162468
    Latitude
    25.84317059996

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    FAQs

    What type of property is this?
    Land - 15,750 SF Industrial Lot, Little River
    Where is this land located?
    The property is located at 7401 1St Pl Miami, FL.
    What is the lease rate?
    The lease rate is $8 SF/Yr.
    What are key features of this property?
    This property features: 15,750 SF industrial lot zoned D2 for outdoor storage.; Excellent Little River location, one block west of NE 2nd Ave, near I-95, Design District, Midtown, and Wynwood.; Suitable for outdoor storage, equipment rentals, build-to-suit, or potentially a sports facility or outdoor market.
    (310) 710-5080 Call to check price and availability
    Request Owner's contact information
    7401 1St Pl Miami, FL 33138
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    Miami, FL 33138
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7401 1St Pl Miami, FL 33138
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    Contact for Pricing
    Please call us for current price
    and status of this listing George Belesis
    George Belesis
    Real Estate License ID: SL3565609
    (310) 710-5080
    Learn more
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