Remodeled Two-Story Flex
For Sale
$420,000
1701 W 37th St, Hialeah, FL 33012
Commercial Sale, Hialeah, FL
Property Size1,300 SF
Lot Size0.03 Acres
Price / SF$323.08
Days on Market96
Property Features for 1701 W 37th St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
7100
Subdivision
30
Standard status
Active
APN
04-30-02-195-0080
Lot size
0.03 Acres
Taxes and HOA fees
Tax Description
PALMETTO COMMERCIAL WHSES CONDO UNIT BAY 15 BLDG 1701 UNDIV 1/52 INT IN COMMON ELEMENTS OFF REC 19086-3217 OR 20052-4248 11/2001 2 (8) COC 2
HOA Fee
$412 Monthly
Legal Description
PALMETTO COMMERCIAL WHSES CONDO UNIT BAY 15 BLDG 1701 UNDIV 1/52 INT IN COMMON ELEMENTS OFF REC 19086-3217 OR 20052-4248 11/2001 2 (8) COC 2
Amenities
security camera system
Building Details
Year built
2000
Listing Agency:
Brickell Investment Realty
(305) 372-0114
Listed By:
Sebastian Simms · License #3099784
(786) 285-6672
Added: Jun 25
Changed: Sep 2
Last Checked: Sep 28 at 4:06PM
MLS# A11998189
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,300-square-foot flex unit occupies two stories and was remodeled for immediate commercial use. The layout combines private offices, a dedicated bathroom, and adaptable open space suited to light manufacturing, craftsmanship, or professional workspace. A security camera system and two assigned parking spaces are included.
Built in 2000, the property is located at 1701 W 37th St in Hialeah, within Miami-Dade County. A post-occupancy agreement is available for both parties’ convenience. The unit’s combination of enclosed office areas and flexible workspace supports businesses requiring both administrative and operational functions.
Built in 2000, the property is located at 1701 W 37th St in Hialeah, within Miami-Dade County. A post-occupancy agreement is available for both parties’ convenience. The unit’s combination of enclosed office areas and flexible workspace supports businesses requiring both administrative and operational functions.
Key Highlights
- 1,300‑square‑foot two‑story flex unit at 1701 W 37th St, Hialeah, FL 33012
- Completely remodeled for commercial use
- Private offices and dedicated bathroom
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
$25,097
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
5.98%
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%
$501,940
$501.9K
Cap Rate 7%
$358,529
$358.5K
Cap Rate 9%
$278,856
$278.9K
Market Conditions
NOI Build-Up for 1,300 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
$42.9K $33.00/SF
− Vacancy
−$9.4K −$7.26/SF
EGI
$33.5K $25.74/SF
− OpEx
−$8.4K −$6.44/SF
NOI
$25.1K $19.31/SF
Area
Hialeah, FL
Vacancy
22.00%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
25.00%
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%
$501,940
Cap Rate 7%
$358,529
Cap Rate 9%
$278,856
Alternative Uses
Best Use
Office B
$358.5K
$313.7K – $418.3K
NOI $25,097 @ 7.0% cap · market cap 5.98%
Second Best
Flex RnD
$279.9K
$244.9K – $326.5K
NOI $19,590 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$511.7K
$447.7K – $597.0K
NOI $35,818 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,464
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33012, FL
70,260
Population
25,923
Households
2.7
Avg Household Size
48
Median Age
18%
College-Educated
72%
High-School Grad
5.9 sq mi
ZIP Area
11,908
Density / Sq Mi
$45,818
Median Household Income
$32,039
Median Earnings
$1,562
Median Rent
$355,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Private offices, a dedicated bathroom, open workspace, assigned parking, and camera security support varied commercial operations.
Where is this flex space located?
The property is located at 1701 W 37th St Hialeah, FL.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: 1,300‑square‑foot two‑story flex unit at 1701 W 37th St, Hialeah, FL 33012; Completely remodeled for commercial use; Private offices and dedicated bathroom
