Long-Term Tenant NNN
For Sale
Contact for pricing
1675-1677 W 31st Pl, Hialeah, FL 33012
A commercial property with an established tenant and recently completed recertification supports continued occupancy.
Property Size16,100 SF
Price / SF$248.45
Days on Market682
Property Features for 1675-1677 W 31st Pl
General Information
Standard status
Active
Size
16,100 SF
Property subtype
INDUSTRIAL
Building Details
Tenancy
Single
Listing Agency:
The Hype Real Estate Group
Listed By:
Raul Pino · License #A11915720
(786) 503-5583
Source:
Moodyscre
Added: Oct 23, 2024
Changed: Aug 29
Last Checked: Sep 2 at 8:00PM
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 Real Estate Group
Investment Insights
Based on property information with market context.
This 16,100-square-foot NNN property is occupied by a tenant that has remained in place for more than 20 years. The existing tenancy provides an established operating history, while the property’s commercial configuration supports its NNN structure.
The building recently passed its 40-year recertification, documenting compliance with the applicable recertification requirement. The property is located at 1675-1677 W 31st Pl in Hialeah, Florida.
The building recently passed its 40-year recertification, documenting compliance with the applicable recertification requirement. The property is located at 1675-1677 W 31st Pl in Hialeah, Florida.
Key Highlights
- 16,100‑square‑foot NNN property
- Tenant has occupied the property for over 20 years
- Recently passed its 40‑year recertification
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
$182,757
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
4.57%
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%
$3,655,140
$3.7M
Cap Rate 7%
$2,610,814
$2.6M
Cap Rate 9%
$2,030,633
$2.0M
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
−$78.3K −$4.86/SF
NOI
$182.8K $11.35/SF
Area
Hialeah, FL
Vacancy
5.50%
Lease Rate
$17.16 /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%
$3,655,140
Cap Rate 7%
$2,610,814
Cap Rate 9%
$2,030,633
Alternative Uses
Best Use
Industrial
$2.61M
$2.28M – $3.05M
NOI $182,757 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
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
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,709
Businesses Nearby
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?
NNN property - A commercial property with an established tenant and recently completed recertification supports continued occupancy.
Where is this nnn property located?
The property is located at 1675-1677 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: 16,100‑square‑foot NNN property; Tenant has occupied the property for over 20 years; Recently passed its 40‑year recertification
