1671 W 38th Place #1406, Hialeah, FL 33012

Building Details

Year Built 1980 More

Building Size 1,305 SF More

Construction Twin T Concrete Roof More

Listing Agency: Cespedes Realty LLC i***@cespedesrealty.com Show Phone

Listed By: David Cespedes · License FL #3253120 Show Phone

Source: Lehmannflorida

Added: Nov 9 Changed: Nov 12 Last Checked: Nov 12 at 2:37PM

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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

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 1,305-square-foot warehouse in West Hialeah features an 18-foot clear ceiling, a 14-foot street-level door, and one office. The building has a twin-T concrete roof and was recently updated. Built in 1980, the property offers a compact warehouse configuration with office space on site.

The location is between 49th Street and Okeechobee Road, with proximity to the Palmetto.

Key Highlights

• 1,305 SF warehouse with an 18' clear ceiling
• 14' street‑level door
• One office

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,988

Cap Rate

4.00%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$359,760 $359.8K

Cap Rate 7%

$256,971 $257.0K

Cap Rate 9%

$199,867 $199.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,305 SF

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 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 (±1% cap)

NOI $17,988 @ 7.0% cap · market cap 4.00%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$513.6K

$449.4K – $599.3K (±1% cap)

NOI $35,955 @ 7.0% cap · market cap 7.99%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

AC Repair Service ... Hardware & Home Improvement MedallionDesignStyle General Contractor Chem Index Inc Medical Supply Store Guaoo Printing Printing Service Kps Trabajo Shopping Center & Mall

Suggested Use

Top Pick Real Estate Agency Law Firm Parking Lot & Garage Gym & Fitness Center Veterinary Clinic Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

18 ft

Clear height

1

Drive-in doors

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

3,693

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

Average Price Trend$/SF for Warehouses in Hialeah, FL

$210 Jul

$224 Aug

$233 Sep

$214 Oct

Properties on Market for Warehouses in Hialeah

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Warehouse - A single office, street-level access, and a twin-T concrete roof support practical warehouse operations.

Where is this warehouse located?

The property is located at 1671 W 38th Place #1406 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: 1,305 SF warehouse with an 18' clear ceiling; 14' street‑level door; One office