Hialeah Warehouse with Transit
For Sale
Contact for pricing
Pending
1677 W 31st Pl, Hialeah, FL 33012
16,100 SF warehouse near transit, flexible occupancy.
Property Size16,100 SF
Days on Market1486
Property Features for 1677 W 31st Pl
General Information
Standard status
Pending
Size
16,100 SF
Class
C
Property subtype
Industrial
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$161,000
Building Details
Year Built
1965
Stories
1
Tenancy
Single
Listing Agency:
The Hype Group
Listed By:
Raul Pino · License #FL 3423287
(305) 592-1588
Source:
Crexi
Added: Aug 12, 2022
Changed: Aug 15
Last Checked: Sep 5 at 11:54AM
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 The Hype Group
Investment Insights
Based on property information with market context.
This 16,100 sqft warehouse features three grade level doors, including one dock door, with street access at both the front and back. The property can be delivered vacant or with a tenant in place by December 31, 2025. Located 1.5 miles from Okeechobee Metrorail and 1.9 miles from Palmetto Metrorail, it offers transit connectivity. The warehouse has received its 40-year recertification and is located near Miami International Airport. This well-maintained warehouse is suitable for investors.
Key Highlights
- Strategic location: Proximity to Miami International Airport.
- Excellent transit connectivity: Just 1.5 miles from Okeechobee Metrorail and 1.9 miles from Palmetto Metrorail.
- Flexible logistics: Features three grade‑level doors, including one dock door, with street access at both front and back.
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
$221,919
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
5.55%
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%
$4,438,380
$4.4M
Cap Rate 7%
$3,170,271
$3.2M
Cap Rate 9%
$2,465,767
$2.5M
Market Conditions
NOI Build-Up for 16,100 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
$276.3K $17.16/SF
− Vacancy
−$15.2K −$0.94/SF
EGI
$261.1K $16.22/SF
− OpEx
−$39.2K −$2.43/SF
NOI
$221.9K $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 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%
$4,438,380
Cap Rate 7%
$3,170,271
Cap Rate 9%
$2,465,767
Alternative Uses
Best Use
Warehouse
$3.17M
$2.77M – $3.70M
NOI $221,919 @ 7.0% cap · market cap 5.55%
Second Best
Industrial
$2.61M
$2.28M – $3.05M
NOI $182,757 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$6.34M
$5.54M – $7.39M
NOI $443,587 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,709
Businesses Nearby
Well-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 Industrial 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?
Warehouse - 16,100 SF warehouse near transit, flexible occupancy.
Where is this warehouse located?
The property is located at 1677 W 31st Pl Hialeah, FL.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Strategic location: Proximity to Miami International Airport.; Excellent transit connectivity: Just 1.5 miles from Okeechobee Metrorail and 1.9 miles from Palmetto Metrorail.; Flexible logistics: Features three grade‑level doors, including one dock door, with street access at both front and back.
