Updated Warehouse with
For Sale
$505,000
1406-1671 W 38th Pl, Hialeah, FL 33012
Recently updated warehouse featuring a concrete roof, street-level access, and dedicated office space.
Property Size1,305 SF
Price / SF$386.97
Days on Market30
Property Features for 1406-1671 W 38th Pl
General Information
Standard status
Active
Size
1,305 SF
Warehouse & Industrial
Clear Height
18 ft
Warehouse Space
1,305 SF
Drive-In Doors
1
Additional Details
Highway Access
Yes
Building Details
Building Size
1,305 SF
Construction
Twin T Concrete Roof
Listing Agency:
Cespedes Realty LLC
(786) 326-4574
Listed By:
David Cespedes · License #3253120
(786) 326-4574
Source:
Exprealty
Added: Jul 14
Changed: Aug 9
Last Checked: Aug 12 at 11:44AM
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 Cespedes Realty LLC
Investment Insights
Based on property information with market context.
This warehouse property includes 1,305 SF of recently updated space beneath a Twin T concrete roof. The building offers 18-foot clear ceilings, a 14-foot street-level door, and one office for administrative or operational use.
Located at 1406-1671 W 38th Pl in Hialeah, the property is positioned between 49th St and Okeechobee Rd, with access to the Palmetto nearby.
Located at 1406-1671 W 38th Pl in Hialeah, the property is positioned between 49th St and Okeechobee Rd, with access to the Palmetto nearby.
Key Highlights
- 1, 305 SF warehouse building
- Twin T concrete roof
- Recently updated interior
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
$17,988
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
3.56%
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%
$359,760
$359.8K
Cap Rate 7%
$256,971
$257.0K
Cap Rate 9%
$199,867
$199.9K
Market Conditions
NOI Build-Up for 1,305 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 $17.16/SF
− Vacancy
−$1.2K −$0.94/SF
EGI
$21.2K $16.22/SF
− OpEx
−$3.2K −$2.43/SF
NOI
$18.0K $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%
$359,760
Cap Rate 7%
$256,971
Cap Rate 9%
$199,867
Alternative Uses
Best Use
Warehouse
$257.0K
$224.9K – $299.8K
NOI $17,988 @ 7.0% cap · market cap 3.56%
Second Best
Industrial
$211.6K
$185.2K – $246.9K
NOI $14,813 @ 7.0% cap · market cap 2.93%
Theoretical Best
Office A
$513.6K
$449.4K – $599.3K
NOI $35,955 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18 ft
Clear height
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,958
Businesses Nearby
Balanced
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 - Recently updated warehouse featuring a concrete roof, street-level access, and dedicated office space.
Where is this warehouse located?
The property is located at 1406-1671 W 38th Pl Hialeah, FL.
What is the asking price?
The asking price for this property is $505,000.
What are key features of this property?
This property features: 1, 305 SF warehouse building; Twin T concrete roof; Recently updated interior
