Flex Space with
For Sale
$450,000
10770 NW 138th Street Unit C-5, Hialeah Gardens, FL 33018
Light industrial zoning combines warehouse space, office space, and a street-level door.
Property Size1,146 SF
Price / SF$392.67
Days on Market75
Property Features for 10770 NW 138th Street Unit C-5
General Information
Standard status
Active
Size
1,146 SF
Total Parking Spaces
3
Property subtype
Industrial
Zoning
Light Industrial
Warehouse & Industrial
Clear Height
19 ft
Drive-In Doors
1
Additional Details
Highway Access
Yes
Building Details
Year Built
2008
Building Size
1,146 SF
Listing Agency:
Miami New Realty
(305) 485-3100
Listed By:
Lourdes De Sousa · License #3151944
(786) 395-7176
Source:
Lehmannflorida
Added: Jul 29
Changed: Oct 10
Last Checked: Oct 11 at 7:57AM
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 Miami New Realty
Investment Insights
Based on property information with market context.
This flex property contains 1,146 square feet of space, including a second-floor mezzanine. The warehouse area features a 19-foot ceiling and one street-level door, while the office component includes a small office and one handicap restroom. The property also includes three assigned parking spaces and was built in 2008.
Located in Hialeah Gardens, the property is close to I-75, Okeechobee Road, the Florida’s Turnpike north and south, and the Palmetto Expressway. Home Depot is within walking distance. Light industrial zoning applies, with specific use restrictions: mechanics, car storage, and granite or stone work are not permitted.
Located in Hialeah Gardens, the property is close to I-75, Okeechobee Road, the Florida’s Turnpike north and south, and the Palmetto Expressway. Home Depot is within walking distance. Light industrial zoning applies, with specific use restrictions: mechanics, car storage, and granite or stone work are not permitted.
Key Highlights
- 1,146 total square feet, including a second‑floor mezzanine
- 19‑foot ceiling height in the warehouse area
- One street‑level door and three assigned parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,207
Cap Rate
5.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$504,140
$504.1K
Cap Rate 7%
$360,100
$360.1K
Cap Rate 9%
$280,078
$280.1K
Market Conditions
NOI Build-Up for 1,146 SF
Gross rent
$41.3K $36.00/SF
− Vacancy
−$2.5K −$2.16/SF
EGI
$38.8K $33.84/SF
− OpEx
−$13.6K −$11.84/SF
NOI
$25.2K $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 Rate 5%
$504,140
Cap Rate 7%
$360,100
Cap Rate 9%
$280,078
Alternative Uses
Best Use
Flex RnD
$360.1K
$315.1K – $420.1K
NOI $25,207 @ 7.0% cap · market cap 5.60%
Second Best
Warehouse
$214.6K
$187.8K – $250.4K
NOI $15,023 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$581.4K
$508.7K – $678.3K
NOI $40,699 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
19 ft
Clear height
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
242
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Light industrial zoning combines warehouse space, office space, and a street-level door.
Where is this flex space located?
The property is located at 10770 NW 138th Street Unit C-5 Hialeah Gardens, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,146 total square feet, including a second‑floor mezzanine; 19‑foot ceiling height in the warehouse area; One street‑level door and three assigned parking spaces
