Flex Space with Street-Level
For Sale
$162,500
Pending
10780 NW 138 ST Unit 5, Hialeah Gardens, FL 33018
Well-maintained flex unit with street-level loading doors, ADA-compliant restrooms, and 3-phase electrical service.
Property Size1,375 SF
Days on Market3919
Property Features for 10780 NW 138 ST Unit 5
General Information
Standard status
Pending
Size
1,375 SF
Property subtype
General Commercial
Warehouse & Industrial
Clear Height
18 ft
Three-Phase Power
Yes
Taxes and HOA fees
Annual Taxes
$2,006
Amenities
3
2 Parking Spaces.
Building Details
Year Built
2008
Listing Agency:
Garza International Realty, Inc
(954) 554-2310
Listed By:
Gerardo Garza · License #0685411
(954) 554-2310
Source:
Xome
Added: Nov 20, 2015
Changed: Aug 8
Last Checked: Jul 30 at 6:03PM
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 Garza International Realty, Inc
Investment Insights
Based on property information with market context.
This well-maintained flex space was built in 2008 and includes street-level loading doors plus a clear ceiling height of 18'. The unit features one office and one bathroom, with ADA-compliant restrooms per unit. A 3-phase electrical service is available to support a variety of light industrial and distribution needs. Parking is provided with 2 parking spaces.
The unit is addressed at 10780 NW 138 ST Unit 5 in Hialeah Gardens, FL 33018. Public remarks indicate it is two blocks from the turnpike and near the Palmetto Expressway, which may be advantageous for day-to-day operations and regional access. The seller also notes ownership of additional units currently rented and willingness to sell to an investor.
The layout is designed for functional work space with office and restroom facilities on-site, paired with loading access at street level.
The unit is addressed at 10780 NW 138 ST Unit 5 in Hialeah Gardens, FL 33018. Public remarks indicate it is two blocks from the turnpike and near the Palmetto Expressway, which may be advantageous for day-to-day operations and regional access. The seller also notes ownership of additional units currently rented and willingness to sell to an investor.
The layout is designed for functional work space with office and restroom facilities on-site, paired with loading access at street level.
Key Highlights
- 18' clear ceiling height with street‑level loading doors
- 3‑phase electrical service available
- ADA‑compliant restrooms per unit
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
$14,844
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
9.13%
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%
$296,880
$296.9K
Cap Rate 7%
$212,057
$212.1K
Cap Rate 9%
$164,933
$164.9K
Market Conditions
NOI Build-Up for 1,375 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
$22.4K $16.32/SF
− Vacancy
−$1.2K −$0.90/SF
EGI
$21.2K $15.42/SF
− OpEx
−$6.4K −$4.63/SF
NOI
$14.8K $10.80/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
30.00%
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%
$296,880
Cap Rate 7%
$212,057
Cap Rate 9%
$164,933
Alternative Uses
Best Use
Flex RnD
$432.1K
$378.1K – $504.1K
NOI $30,245 @ 7.0% cap · market cap 18.61%
Second Best
Warehouse
$257.5K
$225.3K – $300.4K
NOI $18,025 @ 7.0% cap · market cap 11.09%
Theoretical Best
Office A
$697.6K
$610.4K – $813.9K
NOI $48,832 @ 7.0% cap · market cap 30.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
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 - Well-maintained flex unit with street-level loading doors, ADA-compliant restrooms, and 3-phase electrical service.
Where is this flex space located?
The property is located at 10780 NW 138 ST Unit 5 Hialeah Gardens, FL.
What is the asking price?
The asking price for this property is $162,500.
What are key features of this property?
This property features: 18' clear ceiling height with street‑level loading doors; 3‑phase electrical service available; ADA‑compliant restrooms per unit
