Remodeled Industrial Flex
For Sale
$650,000
D106-10421 Nw 28th St, Doral, FL 33127
Remodeled, climate-controlled industrial/flex condominium with a mezzanine, private offices, and bay door access.
Property Size1,392 SF
Price / SF$466.95
Days on Market48
Property Features for D106-10421 Nw 28th St
General Information
Standard status
Active
Size
1,392 SF
Total Parking Spaces
3
Additional Details
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$5,638
Amenities
fully climate-controlled interior
grassy break area
secured perimeter
Listing Agency:
Fausto Commercial Realty Consultants Inc
(786) 748-7373
Listed By:
Armando Mercado
(786) 600-1556
Source:
Exprealty
Added: Jul 22
Changed: Sep 5
Last Checked: Sep 6 at 1:50PM
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 Fausto Commercial Realty Consultants Inc
Investment Insights
Based on property information with market context.
Remodeled industrial/flex condominium unit D-106 at 10421 NW 28th Street in Doral, Florida, offering a functional blend of office and workspace. The interior features polished concrete floors, modern finishes, and a fully climate-controlled environment. A mezzanine adds additional usable space for storage or expanded operations.
The layout includes multiple private offices and flexible work areas, supporting light shipping and professional business uses that require both work space and administrative rooms. Operational access includes a street-level bay door, a separate personnel entrance, and a rear door providing access to a grassy break area.
Additional practical conveniences include three assigned parking spaces and a secured perimeter within the industrial/flex park. The unit is presented as a turnkey opportunity with office-ready improvements already in place.
The layout includes multiple private offices and flexible work areas, supporting light shipping and professional business uses that require both work space and administrative rooms. Operational access includes a street-level bay door, a separate personnel entrance, and a rear door providing access to a grassy break area.
Additional practical conveniences include three assigned parking spaces and a secured perimeter within the industrial/flex park. The unit is presented as a turnkey opportunity with office-ready improvements already in place.
Key Highlights
- 1,392 SF remodeled industrial/flex condominium (Unit D‑106) with polished concrete floors and modern finishes
- Fully climate‑controlled interior with a mezzanine for additional usable storage or operational space
- Functional layout includes multiple private offices plus flexible work areas for office and light business use
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
$30,618
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
4.71%
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%
$612,360
$612.4K
Cap Rate 7%
$437,400
$437.4K
Cap Rate 9%
$340,200
$340.2K
Market Conditions
NOI Build-Up for 1,392 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
$50.1K $36.00/SF
− Vacancy
−$3.0K −$2.16/SF
EGI
$47.1K $33.84/SF
− OpEx
−$16.5K −$11.84/SF
NOI
$30.6K $22.00/SF
Area
Miami-Dade County, FL
Vacancy
6.00%
Lease Rate
$36.00 /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%
$612,360
Cap Rate 7%
$437,400
Cap Rate 9%
$340,200
Alternative Uses
Best Use
Flex RnD
$437.4K
$382.7K – $510.3K
NOI $30,618 @ 7.0% cap · market cap 4.71%
Second Best
Industrial
$214.7K
$187.9K – $250.5K
NOI $15,028 @ 7.0% cap · market cap 2.31%
Theoretical Best
Office A
$706.2K
$617.9K – $823.9K
NOI $49,435 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
7,259
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Remodeled, climate-controlled industrial/flex condominium with a mezzanine, private offices, and bay door access.
Where is this flex space located?
The property is located at D106-10421 Nw 28th St Doral, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 1,392 SF remodeled industrial/flex condominium (Unit D‑106) with polished concrete floors and modern finishes; Fully climate‑controlled interior with a mezzanine for additional usable storage or operational space; Functional layout includes multiple private offices plus flexible work areas for office and light business use
