Flex Warehouse with Office
For Sale
$480,000
1007-1750 W 39th Pl, Hialeah, FL 33012
Flex warehouse condo features air-conditioned warehouse storage with a built-in second-floor office and storage area.
Property Size1,816 SF
Price / SF$264.32
Days on Market99
Property Features for 1007-1750 W 39th Pl
General Information
Standard status
Active
Size
1,816 SF
Total Parking Spaces
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,648
Listing Agency:
Avanti Way Commercial
(786) 512-3745
Listed By:
Jerry Stapel
(305) 216-4636
Source:
Exprealty
Added: Jun 4
Changed: Sep 7
Last Checked: Sep 9 at 5:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Avanti Way Commercial
Investment Insights
Based on property information with market context.
This flex warehouse and office condo offers a combined warehouse and office layout with an added second-floor office/storage component. The unit is reported to include approximately 900 SF of storage/warehouse area, along with approximately 916 SF of office space distributed across the ground and second floors.
The entire unit is fully air-conditioned and is serviced by two central A/C systems. There are two bathrooms and two assigned parking spaces.
The property is positioned for convenient highway access, described as being just minutes from the Palmetto Expressway (SR-826) and Okeechobee Road. Buyers should independently verify square footage, permitted improvements, zoning, and intended use.
The entire unit is fully air-conditioned and is serviced by two central A/C systems. There are two bathrooms and two assigned parking spaces.
The property is positioned for convenient highway access, described as being just minutes from the Palmetto Expressway (SR-826) and Okeechobee Road. Buyers should independently verify square footage, permitted improvements, zoning, and intended use.
Key Highlights
- Flex warehouse condo in Hialeah with easy access to Palmetto Expressway (SR‑826) and Okeechobee Road.
- Approximately 1,816 SF total usable area, including about 900 SF storage/warehouse and about 916 SF office space.
- Added an approx. 650 SF second‑floor office/storage area for extra workspace beyond typical warehouse condos.
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
$35,058
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
7.30%
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%
$701,160
$701.2K
Cap Rate 7%
$500,829
$500.8K
Cap Rate 9%
$389,533
$389.5K
Market Conditions
NOI Build-Up for 1,816 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
$59.9K $33.00/SF
− Vacancy
−$13.2K −$7.26/SF
EGI
$46.7K $25.74/SF
− OpEx
−$11.7K −$6.44/SF
NOI
$35.1K $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%
$701,160
Cap Rate 7%
$500,829
Cap Rate 9%
$389,533
Alternative Uses
Best Use
Office B
$500.8K
$438.2K – $584.3K
NOI $35,058 @ 7.0% cap · market cap 7.30%
Second Best
Flex RnD
$390.9K
$342.1K – $456.1K
NOI $27,366 @ 7.0% cap · market cap 5.70%
Theoretical Best
Office A
$714.8K
$625.4K – $833.9K
NOI $50,034 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,867
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Flex warehouse condo features air-conditioned warehouse storage with a built-in second-floor office and storage area.
Where is this flex space located?
The property is located at 1007-1750 W 39th Pl Hialeah, FL.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Flex warehouse condo in Hialeah with easy access to Palmetto Expressway (SR‑826) and Okeechobee Road.; Approximately 1,816 SF total usable area, including about 900 SF storage/warehouse and about 916 SF office space.; Added an approx. 650 SF second‑floor office/storage area for extra workspace beyond typical warehouse condos.
