Two-Story Flex
For Sale
$799,000
B17-16155 Sw 117th Ave, Miami, FL 33183
I-UC zoning supports office, flex, and light industrial operations with independently metered utilities.
Property Size2,700 SF
Price / SF$295.93
Days on Market54
Property Features for B17-16155 Sw 117th Ave
General Information
Standard status
Active
Size
2,700 SF
Class
Class B
Total Parking Spaces
2
Zoning
I-UC
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
HOA Fee
$330
Office Units
1
Building Details
Stories
2
Construction
CBS
Listing Agency:
Miami Brokers Group
(786) 287-6453
Listed By:
Michael A Diaz · License #A12035400
(786) 287-6453
Source:
Exprealty
Added: Jul 9
Changed: Aug 31
Last Checked: Aug 31 at 6:53PM
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 Miami Brokers Group
Investment Insights
Based on property information with market context.
This 2,700 SF, two-story Class B flex condominium is built with CBS construction and arranged for professional commercial use. The interior includes a reception and lobby area, two private offices, a conference room, open workspace, kitchen, four bathrooms, and two executive suites on the upper level. Electricity, water, and sewer are independently metered, and the unit includes two dedicated parking spaces.
Zoned I-UC, the property supports office, flex, and light industrial uses. The business center provides access to the Florida Turnpike, while Miami Executive Airport is located minutes away. Association services cover exterior maintenance and repairs, building insurance, professional management, and capital reserves.
Zoned I-UC, the property supports office, flex, and light industrial uses. The business center provides access to the Florida Turnpike, while Miami Executive Airport is located minutes away. Association services cover exterior maintenance and repairs, building insurance, professional management, and capital reserves.
Key Highlights
- 2,700 SF two‑story Class B flex condominium
- Reception area, two private offices, conference room, open workspace, kitchen, and four bathrooms
- Two executive suites located on the second floor
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
$39,593
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
4.96%
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%
$791,860
$791.9K
Cap Rate 7%
$565,614
$565.6K
Cap Rate 9%
$439,922
$439.9K
Market Conditions
NOI Build-Up for 2,700 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
$64.8K $24.00/SF
− Vacancy
−$3.9K −$1.44/SF
EGI
$60.9K $22.56/SF
− OpEx
−$21.3K −$7.90/SF
NOI
$39.6K $14.66/SF
Area
Miami, FL
Vacancy
6.00%
Lease Rate
$24.00 /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%
$791,860
Cap Rate 7%
$565,614
Cap Rate 9%
$439,922
Alternative Uses
Best Use
Office B
$1.11M
$968.2K – $1.29M
NOI $77,456 @ 7.0% cap · market cap 9.69%
Second Best
Flex RnD
$565.6K
$494.9K – $659.9K
NOI $39,593 @ 7.0% cap · market cap 4.96%
Theoretical Best
Specialty Retail
$1.82M
$1.59M – $2.13M
NOI $127,576 @ 7.0% cap · market cap 15.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
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
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Frequently Asked Questions
What type of property is this?
Flex space - I-UC zoning supports office, flex, and light industrial operations with independently metered utilities.
Where is this flex space located?
The property is located at B17-16155 Sw 117th Ave Miami, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 2,700 SF two‑story Class B flex condominium; Reception area, two private offices, conference room, open workspace, kitchen, and four bathrooms; Two executive suites located on the second floor
