Flex Space with Grade-Level
For Sale
Contact for pricing
1615 W 31st Pl 1615, Hialeah, FL 33012
Industrial flex space combines office functionality with warehouse access and LED lighting.
Property Size23,793 SF
Days on Market176
Property Features for 1615 W 31st Pl 1615
General Information
Standard status
Active
Size
23,793 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$49,664
Building Details
Building Size
23,793 SF
Year Built
1965
Stories
1
Listing Agency:
THE HYPE REAL ESTATE GROUP CORP
Listed By:
Pablo Vignolo · License #A12025588
(305) 303-3837
Source:
Elliman
Added: Apr 24
Changed: Oct 7
Last Checked: Oct 15 at 1:04AM
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 CORP
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Investment Insights
Based on property information with market context.
Immediately available flex space at Hialeah Industrial Center provides 8,000 SF for industrial or warehouse use. The building features solid masonry construction, 17-foot clear height, two drive-in or grade-level bays, LED lighting, and dedicated office space.
The property is positioned within an established Hialeah warehouse corridor at 1615 W 31st Pl, with convenient access to major roadways. WalkScore is 78, BikeScore is 50, and TransitScore is 35, reflecting a very walkable setting with some transit and bike access.
The property is positioned within an established Hialeah warehouse corridor at 1615 W 31st Pl, with convenient access to major roadways. WalkScore is 78, BikeScore is 50, and TransitScore is 35, reflecting a very walkable setting with some transit and bike access.
Key Highlights
- 8,000 SF of immediately available industrial/warehouse space
- 17’ clear height for warehouse operations
- 2 drive‑in/grade‑level bays
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$270,082
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,401,640
$5.4M
Cap Rate 7%
$3,858,314
$3.9M
Cap Rate 9%
$3,000,911
$3.0M
Market Conditions
NOI Build-Up for 23,793 SF
Gross rent
$408.3K $17.16/SF
− Vacancy
−$22.5K −$0.94/SF
EGI
$385.8K $16.22/SF
− OpEx
−$115.7K −$4.86/SF
NOI
$270.1K $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 Rate 5%
$5,401,640
Cap Rate 7%
$3,858,314
Cap Rate 9%
$3,000,911
Alternative Uses
Best Use
Flex RnD
$5.12M
$4.48M – $5.98M
NOI $358,551 @ 7.0% cap · market cap 2,109,123.53%
Second Best
Warehouse
$4.69M
$4.10M – $5.47M
NOI $327,957 @ 7.0% cap · market cap 1,929,158.82%
Theoretical Best
Office A
$9.36M
$8.19M – $10.93M
NOI $655,545 @ 7.0% cap · market cap 3,856,147.06%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,763
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
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- Chef Cuba Catering — 8471 NW South River Dr, Medley, FL 33166
- Mirta Salazar Catering — 1685 W 42nd St #1, Hialeah, FL 33012
Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex space combines office functionality with warehouse access and LED lighting.
Where is this flex space located?
The property is located at 1615 W 31st Pl 1615 Hialeah, FL.
What are key features of this property?
This property features: 8,000 SF of immediately available industrial/warehouse space; 17’ clear height for warehouse operations; 2 drive‑in/grade‑level bays
