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    1751 W 38Th Pl, Unit 1004A Hialeah, FL 33012

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    For Sale
    $375,000

    Warehouse with two-story office space in a convenient location.

    Lot size:
    0.03 Acres

    Property Features for 1751 W 38Th Pl

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.03 Acres

    Building Details

    Year built
    1980

    We can help!

    Listing Contact
    Christopher Raimundo
    Christopher Raimundo
    Source: Elliman

    Listing Agency: Priority Realty Partners Listing Agent: Christopher Raimundo

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Hialeah Warehouse with Office Space

    This warehouse property features a spacious two-story office and is fully equipped with central air conditioning. Situated in a convenient location near the Palmetto Expressway and Okeechobee Road, the property offers flex space suitable for various business operations. The first floor spans 1166 square feet, while the upstairs mezzanine office provides approximately 360 square feet of space. A bay door measuring about 14 feet in height and 10.2 feet in width provides access to the warehouse area, which has a ceiling height of approximately 16.2 feet. The downstairs area includes a kitchen, a large bathroom with a shower and storage room, a server room, and a conference room area. The upstairs office space is well-appointed, featuring a spacious private executive office with wood flooring, two large closets, and cabinets. The property is equipped with an alarm system and is in excellent condition. Potential business uses include a paint shop, sign company, or print shop. The back of the warehouse is 24.6 feet wide, while the front is 11.2 feet wide.
    Location Intelligence

    Current Use by Public Records

    Rapid Medical Services ... Medical Supply Store Alfaro Plumbing Inc. Plumbing Service Mobile Quality Diagnostic Medical Clinic Allstate Insulators General Contractor

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Mirta Salazar Catering, Ale's Paella Catering Miami, Rode Services Inc, Chef Cuba Catering, Mestizo

    Location Insight

    • Map
    • Local Demand
    City
    Hialeah
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.31755
    Latitude
    25.856783

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    FAQs

    What type of property is this?
    Flex space - Warehouse with two-story office space in a convenient location.
    Where is this flex space located?
    The property is located at 1751 W 38Th Pl, Unit 1004A Hialeah, FL.
    What is the asking price?
    The asking price for this property is $375,000.
    What are key features of this property?
    This property features: - Convenient location just off Palmetto Expressway/Okeechobee.; - 100% Central A/C throughout the warehouse and office spaces.; - **Spacious two-story office with well-built-out mezzanine including a private executive office with wood flooring and closets.**
    (954) 732-2678
    Request Owner's contact information
    1751 W 38Th Pl, Unit 1004A Hialeah, FL 33012
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    Hialeah, FL 33012
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1751 W 38Th Pl, Unit 1004A Hialeah, FL 33012
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    We can help!
    Listing Contact
    Christopher Raimundo
    Christopher Raimundo
    Real Estate License ID: 3188480
    (954) 732-2678 (954) 732-2679
    Learn more
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