Building Details

Building Size 12,000 SF

Listing Agency: RE/MAX

Listed By: Julio Antonio Vera · License #3173907 Show Phone

Source: Remaxcommercial

Added: Jan 26 Changed: Oct 12 Last Checked: Oct 20 at 5:06PM

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Investment Insights

Based on property information with market context.

This industrial warehouse is located in the City of Hialeah. The property, owner-occupied by a marine boating company for over 30 years, can be divided into bays for future rental income. It is conveniently located near a Tri-Rail station and adjacent to several upcoming major developments. These include MG Developer's Metro Parc Hialeah, a planned three-tower, 10-story multi-family residential mixed-use apartment project with over 1,600 rental units; Strategic Properties & Continua Developments' Midtown Park, an upcoming 8-story residential apartment project with over 612 rental units; and The Bec Group's 1025 Metro & 1067 Motion, a future 10-story residential mixed-use apartment project with over 283 units. This property is suitable for an investor seeking to establish a position in a redeveloping area.

Key Highlights

• Potential for future rental income by dividing into bays.
• Located near the Tri Rail station.
• Positioned next to multiple major residential development projects.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$165,405

Cap Rate

3.31%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,308,100 $3.3M

Cap Rate 7%

$2,362,929 $2.4M

Cap Rate 9%

$1,837,833 $1.8M

Is this asking price fair?

Market Conditions

NOI Build-Up for 12,000 SF

Gross rent

$205.9K $17.16/SF

− Vacancy

−$11.3K −$0.94/SF

EGI

$194.6K $16.22/SF

− OpEx

−$29.2K −$2.43/SF

NOI

$165.4K $13.78/SF

Area

Hialeah, FL

Vacancy

5.50%

Lease Rate

$17.16 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,308,100

Cap Rate 7%

$2,362,929

Cap Rate 9%

$1,837,833

Alternative Uses

Best Use

Warehouse

$2.36M

$2.07M – $2.76M (±1% cap)

NOI $165,405 @ 7.0% cap · market cap 3.31%

Second Best

Industrial

$1.95M

$1.70M – $2.27M (±1% cap)

NOI $136,216 @ 7.0% cap · market cap 2.72%

Theoretical Best

Office A

$4.72M

$4.13M – $5.51M (±1% cap)

NOI $330,624 @ 7.0% cap · market cap 6.61%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

B & R Marine (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Real Estate Agency Law Firm HVAC Service Gym & Fitness Center Parking Lot & Garage Daycare Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,409

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 33013, FL

31,068

Population

9,544

Households

3.3

Avg Household Size

48

Median Age

18%

College-Educated

72%

High-School Grad

3.8 sq mi

ZIP Area

8,176

Density / Sq Mi

$57,242

Median Household Income

$32,566

Median Earnings

$1,488

Median Rent

$407,400

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Warehouse - Industrial warehouse in redeveloping Hialeah, ideal for investors.

Where is this warehouse located?

The property is located at 1040 East 26th Street Hialeah, FL.

What is the asking price?

The asking price for this property is $4,999,000.

What are key features of this property?

This property features: Potential for future rental income by dividing into bays.; Located near the Tri Rail station.; Positioned next to multiple major residential development projects.