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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    16205 117Th Ave Miami, FL 33177

    • Warehouses
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Racy Auto Detailing Body Shop / Auto Body Shop
    • A2D Auto / Car Dealer
    • miami logistic & courier services / Courier Service / Shipping And Mailing Service
    • Y & J Auto Sales Inc / Wholesaler
    • Collision Company / Auto Body Shop

    Property Details for 16205 117Th Ave

    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional 1,080-square-foot warehouse condo presents a fantastic investment opportunity in Miami, Florida. Located at 16205 SW 117th Ave #24, this single-tenant property boasts a prime location, offering convenient access while remaining outside of heavy commercial truck traffic congestion and bordering the Turnpike. The unit features an air-conditioned office and an ADA-compliant bathroom, enhancing its functionality and appeal. Security is a key feature, with gated access after hours, restricted to owners and tenants only. The warehouse itself is spacious and clean, equipped with a large overhead roll-up door for easy access to accommodate various work needs. Two assigned parking spaces are included for added convenience. The building is constructed of concrete, including the roof, and features shuttered windows, providing superior security and protection. The property is zoned for light manufacturing (Zoning: 7700) and is part of a secure business center. The APN is 30-50-30-022-0520. This one-story building is part of a larger complex with a total of one suite. The property's features, combined with its strategic location, make it an ideal choice for businesses seeking a secure, functional, and conveniently located warehouse space in Miami. The zip code is 33177.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Broward
    State
    Florida
    Longitude
    -80.3817
    Latitude
    25.6183

    Comparable in this City

    • Value Estimation by Request

      16689 117Th Ave

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      16689 117Th Ave, Miami, FL 33177
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    • Value Estimation by Request

      16613 117Th Ave

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      16613 117Th Ave, Miami, FL 33177
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    • Value Estimation by Request

      16721 117Th Ave

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      16721 117Th Ave, Quail Heights, FL 33177
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    • Value Estimation by Request

      16717 117Th Ave

      Distribution properties
      16717 117Th Ave, Quail Heights, FL 33177
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    • Value Estimation by Request

      16615 117Th Ave

      Distribution properties
      16615 117Th Ave, Miami, FL 33177
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    • Value Estimation by Request

      16733 117Th Ave

      Distribution properties
      16733 117Th Ave, Quail Heights, FL 33177
      View Details

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    16205 117Th Ave
    Miami, FL 33177
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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
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