Turnkey Two-Story Warehouse
For Sale
$420,000
15-1701 W 37th St, Hialeah, FL 33013
Remodeled two-story flex warehouse with private offices, private bath, and open space for light work, plus two assigned parking spaces.
Property Size1,300 SF
Price / SF$323.08
Days on Market144
Property Features for 15-1701 W 37th St
General Information
Standard status
Active
Size
1,300 SF
Total Parking Spaces
2
Amenities
security camera system
Building Details
Stories
2
Listing Agency:
Brickell Investment Realty
(305) 372-0114
Listed By:
Sebastian Simms · License #3099784
(786) 285-6672
Source:
Exprealty
Added: Apr 16
Changed: Sep 5
Last Checked: Sep 5 at 1:14PM
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 Brickell Investment Realty
Investment Insights
Based on property information with market context.
Turnkey, completely remodeled two-story warehouse flex space designed for immediate operation. The unit includes functional private offices, a private bathroom, and versatile open space suitable for light manufacturing, craftsmanship, or professional workspace. The property is described as secure, modern, and equipped with a security camera system.
Located at 15-1701 W 37th St in Hialeah, FL, the unit includes two assigned parking spaces. The listing notes a post-occupancy agreement for both sides’ convenience.
Additional provided operating details include a $412.00 maintenance fee covering everything but electricity, and 2025 property taxes listed at $4,400.
Located at 15-1701 W 37th St in Hialeah, FL, the unit includes two assigned parking spaces. The listing notes a post-occupancy agreement for both sides’ convenience.
Additional provided operating details include a $412.00 maintenance fee covering everything but electricity, and 2025 property taxes listed at $4,400.
Key Highlights
- Completely remodeled, turnkey 300 SF two‑story warehouse flex space
- Includes functional private offices, a private bathroom, and versatile open space for light manufacturing or professional use
- Secure unit with security camera system
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
$19,590
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
4.66%
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%
$391,800
$391.8K
Cap Rate 7%
$279,857
$279.9K
Cap Rate 9%
$217,667
$217.7K
Market Conditions
NOI Build-Up for 1,300 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
$32.8K $25.20/SF
− Vacancy
−$2.6K −$2.02/SF
EGI
$30.1K $23.18/SF
− OpEx
−$10.5K −$8.11/SF
NOI
$19.6K $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%
$391,800
Cap Rate 7%
$279,857
Cap Rate 9%
$217,667
Alternative Uses
Best Use
Flex RnD
$279.9K
$244.9K – $326.5K
NOI $19,590 @ 7.0% cap · market cap 4.66%
Second Best
Warehouse
$256.0K
$224.0K – $298.7K
NOI $17,919 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$511.7K
$447.7K – $597.0K
NOI $35,818 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,263
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33013, FL
31,068
Population
9,544
Households
3.3
Avg Household Size
48
Median Age
18%
College-Educated
72%
High-School Grad
3.8 sq mi
ZIP Area
8,176
Density / Sq Mi
$57,242
Median Household Income
$32,566
Median Earnings
$1,488
Median Rent
$407,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Charanga Catering — 231 W 28th St, Hialeah, FL 33010
- Sorelle d'Miami — 271 W 28th St, Hialeah, FL 33010
- Navarro Distributors Inc — 201 W 28th St, Hialeah, FL 33010
- 305 CATER BARTENDING — 541 E 37th St, Hialeah, FL 33013
Frequently Asked Questions
What type of property is this?
Flex space - Remodeled two-story flex warehouse with private offices, private bath, and open space for light work, plus two assigned parking spaces.
Where is this flex space located?
The property is located at 15-1701 W 37th St Hialeah, FL.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Completely remodeled, turnkey 300 SF two‑story warehouse flex space; Includes functional private offices, a private bathroom, and versatile open space for light manufacturing or professional use; Secure unit with security camera system
