Flex Space with
For Sale
$450,000
1657 W 40th St Unit 6, Hialeah, FL 33012
Recently painted commercial space includes multiple offices and restrooms for business operations.
Property Size1,227 SF
Price / SF$366.75
Days on Market35
Property Features for 1657 W 40th St Unit 6
General Information
Standard status
Active
Size
1,227 SF
Amenities
offices
restrooms
Building Details
Year Built
1983
Listing Agency:
Florida Homes Realty & Mortgag
(305) 409-5937
Listed By:
Samuel Fernandez Artiles
Source:
Thepennteam
Added: Jul 29
Changed: Aug 29
Last Checked: Aug 30 at 8:11PM
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 Florida Homes Realty & Mortgag
Investment Insights
Based on property information with market context.
This flex space at 1657 W 40th St Unit 6 includes several offices and restrooms within the property. The building was constructed in 1983 and has recently been painted and cleaned.
Located in Hialeah, the property is available for business use and is offered for sale or lease.
Located in Hialeah, the property is available for business use and is offered for sale or lease.
Key Highlights
- Multiple offices and restrooms included
- Recently painted and cleaned
- 1983 construction
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
$18,490
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
4.11%
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%
$369,800
$369.8K
Cap Rate 7%
$264,143
$264.1K
Cap Rate 9%
$205,444
$205.4K
Market Conditions
NOI Build-Up for 1,227 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
$30.9K $25.20/SF
− Vacancy
−$2.5K −$2.02/SF
EGI
$28.4K $23.18/SF
− OpEx
−$10.0K −$8.11/SF
NOI
$18.5K $15.07/SF
Area
Hialeah, FL
Vacancy
8.00%
Lease Rate
$25.20 /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%
$369,800
Cap Rate 7%
$264,143
Cap Rate 9%
$205,444
Alternative Uses
Best Use
Flex RnD
$264.1K
$231.1K – $308.2K
NOI $18,490 @ 7.0% cap · market cap 4.11%
Second Best
Warehouse
$241.6K
$211.4K – $281.9K
NOI $16,913 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$482.9K
$422.6K – $563.4K
NOI $33,806 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,168
Businesses Nearby
Under-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
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Frequently Asked Questions
What type of property is this?
Flex space - Recently painted commercial space includes multiple offices and restrooms for business operations.
Where is this flex space located?
The property is located at 1657 W 40th St Unit 6 Hialeah, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Multiple offices and restrooms included; Recently painted and cleaned; 1983 construction
