Miami Industrial Building on
For Sale
$1,000,000
Old 41 Road, Miami, FL 26790
±2,347 SF Industrial building for sale
Property Size2,347 SF
Lot Size1.04 Acres
Price / SF$426.08
Days on Market571
Property Features for Old 41 Road
General Information
Standard status
Active
Property type
Other industrial properties, Industrial land, Warehouses, Industrial properties, Land
Size
2,347 SF
Elevators
N/A
Lot size
1.04 Acres
Building Details
Year Built
1960
Buildings
1
Stories
1
Listing Agency:
(561) 476-0615
Listed By:
Bob
(561) 476-0615
Added: Jan 30, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
The industrial building, constructed in 1960, offers approximately 2,347 square feet of space on a 1.04-acre lot in Miami, Florida. The property is located on Old 41 Road, between I-75 and S. Tamiami Trail, just north of E. Terry Street. Old 41 Road provides access to Bonita Beach Road SE. The location offers visibility and accessibility, with proximity to restaurants, shopping centers, and hotels. The property is approximately 15 miles from Naples and 29 miles from Fort Myers. The lot is fenced and considered a desirable size for its intended use. This property is suited for a local contractor or similar business.
Key Highlights
- Industrial building for sale
- ±1.04 AC
- ±2,347 SF (Per Lee County Property Appraiser)
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
$38,288
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
3.83%
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%
$765,760
$765.8K
Cap Rate 7%
$546,971
$547.0K
Cap Rate 9%
$425,422
$425.4K
Market Conditions
NOI Build-Up for 2,347 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
$47.3K $20.16/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$45.0K $19.19/SF
− OpEx
−$6.8K −$2.88/SF
NOI
$38.3K $16.31/SF
Area
Miami, FL
Vacancy
4.80%
Lease Rate
$20.16 /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%
$765,760
Cap Rate 7%
$546,971
Cap Rate 9%
$425,422
Alternative Uses
Best Use
Warehouse
$547.0K
$478.6K – $638.1K
NOI $38,288 @ 7.0% cap · market cap 3.83%
Second Best
Industrial
$450.4K
$394.1K – $525.5K
NOI $31,531 @ 7.0% cap · market cap 3.15%
Theoretical Best
Specialty Retail
$1.58M
$1.39M – $1.85M
NOI $110,897 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,802
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - ±2,347 SF Industrial building for sale
Where is this industrial property located?
The property is located at Old 41 Road Miami, FL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Industrial building for sale; ±1.04 AC; ±2,347 SF (Per Lee County Property Appraiser)
