Remodeled Two-Story Flex
For Sale
$830,000
A6-16115 Sw 117th Ave, Miami, FL 33183
Upgraded unit combines a showroom, offices, kitchenette, and warehouse functions within a business park setting.
Property Size2,050 SF
Price / SF$404.88
Days on Market31
Property Features for A6-16115 Sw 117th Ave
General Information
Standard status
Active
Size
2,050 SF
Class
Class B
Zoning
I-UC
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
1
Loading
Rear Load
Conditioned Warehouse
Yes
Additional Details
HOA Fee
$330
Utilities to Site
Yes
Building Details
Year Built
1989
Stories
2
Construction
CBS
Listing Agency:
The Canero Group
(305) 588-1826
Listed By:
Maria P Bolanos · License #3278607
(305) 588-1826
Source:
Exprealty
Added: Jul 13
Changed: Aug 11
Last Checked: Aug 12 at 12:46PM
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 Canero Group
Investment Insights
Based on property information with market context.
This remodeled two-story flex-space industrial condo offers 2, 050 SF of adaptable commercial area. The ground level includes a redesigned showroom and remodeled bathroom, while the upper floor provides an expansive office arrangement with a private kitchenette. Two separate A/C systems independently serve the office/showroom areas and warehouse, supporting distinct climate-control needs. A rear-loading, street-level door measuring 10'x12' provides direct loading access, and the warehouse has 16'-18' clear ceiling height. Built in 1989 with Class B CBS construction, the unit is independently metered for electric, water, and sewer.
The property is located at A6-16115 Sw 117th Ave in Miami, Florida, within South Dade Business Centre. Zoning is I-UC (Industrial District Conditional, Miami-Dade). The business park provides guest parking, exterior maintenance, building insurance, management, and capital reserves through its association, with approval required for ownership.
The property is located at A6-16115 Sw 117th Ave in Miami, Florida, within South Dade Business Centre. Zoning is I-UC (Industrial District Conditional, Miami-Dade). The business park provides guest parking, exterior maintenance, building insurance, management, and capital reserves through its association, with approval required for ownership.
Key Highlights
- 2, 050 SF two‑story flex‑space industrial condo
- 10'x12' rear‑loading street‑level door
- 16'-18' clear warehouse ceiling height
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
$58,809
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
7.09%
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%
$1,176,180
$1.2M
Cap Rate 7%
$840,129
$840.1K
Cap Rate 9%
$653,433
$653.4K
Market Conditions
NOI Build-Up for 2,050 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
$92.3K $45.00/SF
− Vacancy
−$13.8K −$6.75/SF
EGI
$78.4K $38.25/SF
− OpEx
−$19.6K −$9.56/SF
NOI
$58.8K $28.69/SF
Area
Miami, FL
Vacancy
15.00%
Lease Rate
$45.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,176,180
Cap Rate 7%
$840,129
Cap Rate 9%
$653,433
Alternative Uses
Best Use
Office B
$840.1K
$735.1K – $980.2K
NOI $58,809 @ 7.0% cap · market cap 7.09%
Second Best
Warehouse
$477.8K
$418.0K – $557.4K
NOI $33,443 @ 7.0% cap · market cap 4.03%
Theoretical Best
Specialty Retail
$1.38M
$1.21M – $1.61M
NOI $96,863 @ 7.0% cap · market cap 11.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18 ft
Clear height
1
Drive-in doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
621
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33183, FL
35,891
Population
12,734
Households
2.8
Avg Household Size
44
Median Age
31%
College-Educated
85%
High-School Grad
5.5 sq mi
ZIP Area
6,526
Density / Sq Mi
$67,741
Median Household Income
$40,468
Median Earnings
$1,880
Median Rent
$372,000
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Catering Chef Conny — 6401 SW 116th Ct APT G, Miami, FL 33173
- Maestros De Ceremonia — 6746 sw 115th ct suite 216, miami, fl 33173
Frequently Asked Questions
What type of property is this?
Flex space - Upgraded unit combines a showroom, offices, kitchenette, and warehouse functions within a business park setting.
Where is this flex space located?
The property is located at A6-16115 Sw 117th Ave Miami, FL.
What is the asking price?
The asking price for this property is $830,000.
What are key features of this property?
This property features: 2, 050 SF two‑story flex‑space industrial condo; 10'x12' rear‑loading street‑level door; 16'-18' clear warehouse ceiling height
