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    Property profile & analytics

    9960 NW 116Th Way, Unit 4 Medley, FL 33178

    • Warehouses
    • 40,551 SF
    • 5.17 lot acres
    For Sale
    View listing
    $4,966
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5408724
    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 9960 NW 116Th Way

    Year built
    1994
    Construction
    CONCRETE
    Lot size
    5.17 lot acres
    Property size
    40,551 SF
    Zone code
    7300:INDUSTRIAL,HVY MFG
    Property type
    Warehouses
    APN
    22-2032-006-0010
    APU
    2220320060010

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $11,190,000
      6.5%
      $10,330,000
      7%
      $9,595,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $7,632,000
      Market price range: $731k - $10.9M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $15,935,000
      Current use
      MEDICAL BUILDING
      $17,810,000
      Change: +12% Conversion: Difficult
      RETAIL STORES
      $16,595,000
      Change: +4% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Medley
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.3595
    Latitude
    25.8746
    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
    $136,769
    $10,140,255
    $2,768,906
    $12,909,161
    -
    $10,140,255
    $2,768,906
    $12,909,161

    Comparable in this City

    • Value Estimation
      $40,035,000
      134,110 SF

      9001 87th Ave, Unit 100

      WAREHOUSE, STORAGE • 134,110 SF
      9001 87th Ave, Medley, FL 33178-4992
      View Details
    • Value Estimation
      $2,715,000
      13,768 SF

      10002 89th Ave

      WAREHOUSE, STORAGE • 13,768 SF
      10002 89th Ave, Medley, FL 33178-1409
      View Details
    • Value Estimation
      $1,550,000
      7,434 SF

      9651 89th Ave

      WAREHOUSE, STORAGE • 7,434 SF
      9651 89th Ave, Medley, FL 33178-1433
      View Details
    • Value Estimation
      $17,065,000
      113,160 SF

      9001 105th Way

      WAREHOUSE, STORAGE • 113,160 SF
      9001 105th Way, Medley, FL 33178-1217
      View Details
    • Value Estimation
      $13,800,000
      91,309 SF

      9103 105th Way

      WAREHOUSE, STORAGE • 91,309 SF
      9103 105th Way, Medley, FL 33178-1221
      View Details
    • Value Estimation
      $1,160,000
      5,526 SF

      12599 107th Ave

      WAREHOUSE, STORAGE • 5,526 SF
      12599 107th Ave, Medley, FL 33178-3136
      View Details

    Similar Nearby for Sale

    • $1,750,000

      Medley Industrial Unit For Sale

      Tenant-occupied industrial unit with office space and warehouse area.
      12605 NW 115Th Ave, Medley, FL 33178
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    • $650,000

      Doral Warehouse with Private Offices

      Centrally located Doral warehouse suitable for industrial, storage, or office.
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      4,240 SF

      Doral Warehouse: Luxury Car Storage

      Prime Doral location, 4,240 sq ft warehouse.
      6030 102 Ave, Doral, FL 33178
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    • $12,360,000
      30,900 SF

      Doral Warehouse: Prime Industrial Space

      30,900 SF Warehouse, Excellent Location
      3515 114 Ave, Doral, FL 33178
      View Details
    • $419,900

      Medley Warehouse Unit with Offices

      1,075 SF warehouse with offices in active industrial hub.
      10601 NW 122Nd St, Medley, FL 33178
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      13,317 SF

      Medley Warehouse with Office Space

      Class A warehouse with office space for sublease in Medley.
      10801-11199 NW 122Nd Way, Medley, FL 33178
      View Details
    • $5,000 /Mo
      Pending

      Doral Industrial Flex Space

      2,166 SF industrial flex space in Doral's warehouse district.
      6135 NW 102Nd Ave, Doral, FL 33178
      View Details
    • $21,700

      Air Conditioned Warehouse Space Available

      100% air-conditioned warehouse in Doral West, great location!
      3450 NW 115Th Ave, Doral, FL 33178
      View Details
    • Contact for pricing
      15,000 SF

      Medley Industrial Space Available

      Industrial space with warehouse and office, convenient location.
      9304-9384 NW 102Nd Rd, Medley, FL 33178
      View Details
    • Contact for pricing
      7,000 SF

      Warehouse Space in Beacon Station

      87,040 SF warehouse with 36 dock doors for lease.
      10050 NW 116Th Way, Medley, FL 33178
      View Details
    • Contact for pricing

      Miami Warehouse with Office Space

      12,000 SF warehouse with 2,500 SF office space.
      11500 NW 34Th St, Miami, FL 33178
      View Details
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    Medley, FL 33178
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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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