Flex Space with
For Sale
$595,000
12101 NW 98th Ave, Hialeah Gardens, FL 33018
Commercial Sale, Hialeah Gardens, FL
Property Size1,840 SF
Lot Size0.83 Acres
Price / SF$323.37
Days on Market122
Property Features for 12101 NW 98th Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
6600
Parking
3
Parking features
Assigned
Subdivision
20
Standard status
Active
APN
27-20-32-010-0060
Lot size
0.83 Acres
Taxes and HOA fees
Tax Description
ROMIR INC CONDO UNIT 6 UNDIV 11.11 % INT IN COMMON ELEMENTS OFF REC 16541-3452 OR 19512-1369 0201 6 COC 22966-2722 12 2004 4
HOA Fee
$450 Monthly
Legal Description
ROMIR INC CONDO UNIT 6 UNDIV 11.11 % INT IN COMMON ELEMENTS OFF REC 16541-3452 OR 19512-1369 0201 6 COC 22966-2722 12 2004 4
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1994
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Concrete
Listing Agency:
Phoenix Realtors LLC
(305) 615-1163
Listed By:
Luz Camelo · License #3342954
(786) 317-7876
Added: Apr 24
Changed: Aug 19
Last Checked: Aug 23 at 12:06AM
MLS# A12007178
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 flex space at 12101 NW 98th Ave includes a front office, reception counter, and showroom-style area separated by glass partitions. An electronic loading door supports warehouse access, while three assigned parking spaces serve the unit. The property was built in 1994 with block construction, ceramic tile flooring, a concrete roof, central air, and electric heating.
Located in Hialeah Gardens, the property has public water service and assigned parking. Association guidelines prohibit mechanical and body shop operations.
Located in Hialeah Gardens, the property has public water service and assigned parking. Association guidelines prohibit mechanical and body shop operations.
Key Highlights
- Front office and reception counter included
- Showroom‑style glass partition adds functional separation
- Electronic loading door for warehouse access
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
$48,769
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
8.20%
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%
$975,380
$975.4K
Cap Rate 7%
$696,700
$696.7K
Cap Rate 9%
$541,878
$541.9K
Market Conditions
NOI Build-Up for 1,840 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
$83.9K $45.60/SF
− Vacancy
−$18.9K −$10.26/SF
EGI
$65.0K $35.34/SF
− OpEx
−$16.3K −$8.84/SF
NOI
$48.8K $26.51/SF
Area
Miami-Dade County, FL
Vacancy
22.50%
Lease Rate
$45.60 /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%
$975,380
Cap Rate 7%
$696,700
Cap Rate 9%
$541,878
Alternative Uses
Best Use
Office B
$696.7K
$609.6K – $812.8K
NOI $48,769 @ 7.0% cap · market cap 8.20%
Second Best
Flex RnD
$578.2K
$505.9K – $674.6K
NOI $40,473 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$933.5K
$816.8K – $1.09M
NOI $65,346 @ 7.0% cap · market cap 10.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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 - Flexible commercial unit with office, reception, glass-partitioned showroom area, and electronic loading access.
Where is this flex space located?
The property is located at 12101 NW 98th Ave Hialeah Gardens, FL.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Front office and reception counter included; Showroom‑style glass partition adds functional separation; Electronic loading door for warehouse access
