Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    9851 117th Way Medley, FL 33178-1015

    • Warehouses
    • 2,250 SF
    • 0.89 lot acres
    OFF-MARKET
    Last Sale
    Nov 01, 2023
    Value Estimations
    $570,000
    Show details
    Cap Rate Potential
    7.2%
    Warehouses
    Location Intelligence
    Property ID
    US18-2212447
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Warehouses

    Property Details for 9851 117th Way

    Year built
    1992
    Construction
    CONCRETE
    Lot size
    0.89 lot acres
    Property size
    2,250 SF
    Zone code
    7100:INDUSTRIAL,LIGHT MFG
    Property type
    Warehouses
    APN
    22-2032-011-0050
    APU
    2220320110050

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $520,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $620,000
      6.5%
      $575,000
      7%
      $530,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $607,000
      Market price range: $40.5k - $608k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Medley
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.3601
    Latitude
    25.8779
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $23,766
    $1,930,500
    $63,243
    $1,993,743
    -
    $1,930,500
    $63,243
    $1,993,743

    Comparable in this City

    • Value Estimation by Request
      10,443 SF

      10471 36th St, Unit 2

      WAREHOUSE, STORAGE • 10,443 SF
      10471 36th St, Doral, FL 33178-4367
      View Details
    • Value Estimation
      $610,000
      14,817 SF

      11355 34th St

      WAREHOUSE, STORAGE • 14,817 SF
      11355 34th St, Doral, FL 33178-1829
      View Details
    • Value Estimation
      $1,020,000
      50,463 SF

      9300 58th St

      WAREHOUSE, STORAGE • 50,463 SF
      9300 58th St, Doral, FL 33178-1631
      View Details
    • Value Estimation
      $965,000
      134,110 SF

      9001 87th Ave, Unit 100

      WAREHOUSE, STORAGE • 134,110 SF
      9001 87th Ave, Medley, FL 33178-4992
      View Details
    • Value Estimation
      $925,000
      13,768 SF

      10002 89th Ave

      WAREHOUSE, STORAGE • 13,768 SF
      10002 89th Ave, Medley, FL 33178-1409
      View Details
    • Value Estimation
      $750,000
      7,434 SF

      9651 89th Ave

      WAREHOUSE, STORAGE • 7,434 SF
      9651 89th Ave, Medley, FL 33178-1433
      View Details

    Similar Nearby for Sale

    • $749,000

      Doral Light Industrial Warehouse

      Versatile commercial property in Doral's thriving business district.
      11467 NW 34Th St, Doral, FL 33178
      View Details
    • Contact for pricing

      Doral Office-Warehouse Space For Sale

      2,753 sq ft Doral office-warehouse with air conditioning.
      9450 NW 58Th St, Miami, FL 33178
      View Details
    • $3,190,000

      Doral Warehouse with Office Space

      Warehouse with rear loading, dock height doors, and office space.
      6324 NW 97Th Ave, Miami, FL 33178
      View Details
    • Contact for pricing

      Doral Freestanding Flex Building

      28,000 SF flex building with modern call center and warehouse.
      3301 NW 107Th Ave, Miami, FL 33178
      View Details
    • Contact for pricing

      Medley Industrial Flex Space Available

      3,500 SF flex space in Medley, available July 1st.
      12601 NW 115Th Ave, Miami, FL 33178
      View Details
    • $690,000

      Doral Warehouse For Sale

      Warehouse in Doral's prime location, currently rented.
      6030 NW 99Th Ave, Miami, FL 33178
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      6,375 SF

      NW 115th Ave Warehouse For Lease

      6,375 SF Warehouse, Office Space Available
      3510 115 Ave, Doral, FL 33178
      View Details
    • $0.60 SF/Yr
      159,914 SF

      Doral West Warehouse - 159,914 SF

      Spacious Doral warehouse, great price, ideal location.
      3450 115 Ave, Doral, FL 33178
      View Details
    • $0.02 SF/Yr
      12,254 SF

      Medley Warehouse: ±12,254 SF

      Prime Medley warehouse, ±12,254 SF, ideal for logistics.
      10903 122Nd St, Miami, FL 33178
      View Details
    • $18 SF/Yr
      11,200 SF

      Medley Warehouse Space Available

      Warehouse space for rent in Medley, Florida.
      11701 NW 102Nd Rd, Medley, FL 33178
      View Details
    • $25,000
      2,996 SF

      Renovated Warehouse with Outdoor Storage

      Turn-key, renovated warehouse with outdoor storage in Medley, Florida.
      9950 NW 116Th Way, Medley, FL 33178
      View Details
    • $16 SF/Yr
      10,000 SF

      Medley Warehouse with Loading Docks

      10,000 SF warehouse with dock and ramp access.
      9305 NW 101St Rd, Medley, FL 33178
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    9851 117th Way
    Medley, FL 33178-1015
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.