Flex Space with Warehouse
New
For Sale
$402,000
12905 W Okeechobee Rd, Hialeah Gardens, FL 33018
Commercial Sale, Hialeah Gardens, FL
Property Size1,200 SF
Price / SF$335
Days on Market1
Property Features for 12905 W Okeechobee Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning description
6600
Parking
3
Subdivision
20
Standard status
Active
APN
27-20-29-025-0190
Taxes and HOA fees
Tax Description
HIALEAH GARDENS INDUSTRIAL PARK CONDO UNIT E-1 UNDIV 0.022508816% INT IN COMMON ELEMENTS OFF REC 20024-2548 OR 20069-0554 1201 2 COC 22873-0
HOA Fee
$247 Monthly
Legal Description
HIALEAH GARDENS INDUSTRIAL PARK CONDO UNIT E-1 UNDIV 0.022508816% INT IN COMMON ELEMENTS OFF REC 20024-2548 OR 20069-0554 1201 2 COC 22873-0
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Flooring type
Concrete
Building materials
Block
Roof type
Concrete
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Nancy Font De La Torre · License #3122943
(786) 247-4100
Added: Sep 14
Last Checked: Sep 14 at 11:06PM
MLS# A12088407
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 under-construction flex property provides 1,200 square feet with a small office and a larger warehouse area. Block construction, concrete flooring, and a concrete roof define the physical improvements. The property includes three parking spaces and public water and sewer service.
Its Hialeah Gardens setting offers access to I-75, the Florida Turnpike, and the Palmetto Expressway. Granite and stone work are allowed, while automotive use is excluded from the stated use parameters.
Its Hialeah Gardens setting offers access to I-75, the Florida Turnpike, and the Palmetto Expressway. Granite and stone work are allowed, while automotive use is excluded from the stated use parameters.
Key Highlights
- 1,200‑square‑foot flex property with office and warehouse areas
- Three parking spaces included
- Granite and stone work allowed; automotive use excluded
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
$26,395
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
6.57%
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%
$527,900
$527.9K
Cap Rate 7%
$377,071
$377.1K
Cap Rate 9%
$293,278
$293.3K
Market Conditions
NOI Build-Up for 1,200 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
$43.2K $36.00/SF
− Vacancy
−$2.6K −$2.16/SF
EGI
$40.6K $33.84/SF
− OpEx
−$14.2K −$11.84/SF
NOI
$26.4K $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 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%
$527,900
Cap Rate 7%
$377,071
Cap Rate 9%
$293,278
Alternative Uses
Best Use
Flex RnD
$377.1K
$329.9K – $439.9K
NOI $26,395 @ 7.0% cap · market cap 6.57%
Second Best
Warehouse
$224.7K
$196.6K – $262.2K
NOI $15,731 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$608.8K
$532.7K – $710.3K
NOI $42,617 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Under-construction flex space combines an office component with warehouse area and supports granite or stone work.
Where is this flex space located?
The property is located at 12905 W Okeechobee Rd Hialeah Gardens, FL.
What is the asking price?
The asking price for this property is $402,000.
What are key features of this property?
This property features: 1,200‑square‑foot flex property with office and warehouse areas; Three parking spaces included; Granite and stone work allowed; automotive use excluded
