Street-Level Flex
For Sale
$495,000
9180 NW 119th St, Hialeah Gardens, FL 33018
Commercial Sale, Hialeah Gardens, FL
Property Size1,800 SF
Lot Size1.65 Acres
Price / SF$275
Days on Market69
Property Features for 9180 NW 119th St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
6600
Subdivision
20
Standard status
Active
APN
27-20-33-051-0100
Lot size
1.65 Acres
Taxes and HOA fees
Tax Description
GARDENS INDUSTRIAL PARK CONDO UNIT 10 BLDG 1 UNDIV 10% INT IN COMMON ELEMENTS OFF REC 20283-4203 OR 20716-4805 10 2002 1 COC 25225-0898 12 2
Tax Annual Amount
4960
Legal Description
GARDENS INDUSTRIAL PARK CONDO UNIT 10 BLDG 1 UNDIV 10% INT IN COMMON ELEMENTS OFF REC 20283-4203 OR 20716-4805 10 2002 1 COC 25225-0898 12 2
Building Details
Year built
2002
Listing Agency:
ComReal Miami - Doral, LLC.
(786) 433-2380
Listed By:
Patricia Quintana · License #0480499
(305) 815-3376
Added: Jun 30
Changed: Sep 2
Last Checked: Sep 6 at 3:06AM
MLS# A11780116
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 2002 flex space is configured for combined office and warehouse use, with approximately 70% of the interior devoted to offices and 30% designated for warehouse space. The street-level corner unit includes nine parking spaces and is positioned for businesses requiring administrative space alongside storage, light manufacturing, or distribution functions. The existing offices may be removed to expand the warehouse area.
The property provides access to I-75 and the Palmetto Expressway and is near Miami International Airport and the Port of Miami. Its industrial/commercial zoning supports the property’s mixed office and warehouse configuration, while the parking accommodates employees, visitors, and delivery vehicles.
The property provides access to I-75 and the Palmetto Expressway and is near Miami International Airport and the Port of Miami. Its industrial/commercial zoning supports the property’s mixed office and warehouse configuration, while the parking accommodates employees, visitors, and delivery vehicles.
Key Highlights
- Street‑level corner flex unit with office and warehouse configuration
- Approximately 70% office area and 30% warehouse area
- Nine parking spaces included
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
$39,593
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
8.00%
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%
$791,860
$791.9K
Cap Rate 7%
$565,614
$565.6K
Cap Rate 9%
$439,922
$439.9K
Market Conditions
NOI Build-Up for 1,800 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
$64.8K $36.00/SF
− Vacancy
−$3.9K −$2.16/SF
EGI
$60.9K $33.84/SF
− OpEx
−$21.3K −$11.84/SF
NOI
$39.6K $22.00/SF
Area
Miami-Dade County, FL
Vacancy
6.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
35.00%
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%
$791,860
Cap Rate 7%
$565,614
Cap Rate 9%
$439,922
Alternative Uses
Best Use
Office B
$681.6K
$596.4K – $795.2K
NOI $47,709 @ 7.0% cap · market cap 9.64%
Second Best
Flex RnD
$565.6K
$494.9K – $659.9K
NOI $39,593 @ 7.0% cap · market cap 8.00%
Theoretical Best
Office A
$913.2K
$799.1K – $1.07M
NOI $63,925 @ 7.0% cap · market cap 12.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,219
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33018, FL
54,273
Population
17,871
Households
3
Avg Household Size
41
Median Age
29%
College-Educated
85%
High-School Grad
28.1 sq mi
ZIP Area
1,931
Density / Sq Mi
$90,805
Median Household Income
$42,911
Median Earnings
$2,066
Median Rent
$436,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Corner commercial unit with office and warehouse areas, industrial/commercial zoning, and nine parking spaces.
Where is this flex space located?
The property is located at 9180 NW 119th St Hialeah Gardens, FL.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Street‑level corner flex unit with office and warehouse configuration; Approximately 70% office area and 30% warehouse area; Nine parking spaces included
