Building Details

Building Size 70,521 SF

Year Built 1965

Stories 1

Listing Agency: The Hype Real Estate Group Corp

Listed By: Raul Pino Jr · License #3423287 Show Phone

Source: Elliman

Added: Apr 24 Changed: Oct 1 Last Checked: Oct 15 at 1:01AM

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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 The Hype Real Estate Group Corp

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Investment Insights

Based on property information with market context.

This flex space at 1676 W 31st Pl in Hialeah, Florida, combines industrial functionality with a remodeled office component. The building offers 17-foot clear height, LED lighting, and a layout suited to storage, light industrial, and service operations.

Constructed in 1965, the property provides a practical combination of workspace and office accommodation within an established Hialeah location. Walk Score is 47 and Bike Score is 41, reflecting a car-dependent setting with some bike access.

Key Highlights

• 17‑foot clear height
• Remodeled office area
• LED lighting throughout the space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$800,508

Suggested Prices Based on Cap Rates

Cap Rate 5%

$16,010,160 $16.0M

Cap Rate 7%

$11,435,829 $11.4M

Cap Rate 9%

$8,894,533 $8.9M

What to ask about pricing

Market Conditions

NOI Build-Up for 70,521 SF

Gross rent

$1.21M $17.16/SF

− Vacancy

−$66.6K −$0.94/SF

EGI

$1.14M $16.22/SF

− OpEx

−$343.1K −$4.86/SF

NOI

$800.5K $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%

$16,010,160

Cap Rate 7%

$11,435,829

Cap Rate 9%

$8,894,533

Alternative Uses

Best Use

Flex RnD

$15.18M

$13.28M – $17.71M (±1% cap)

NOI $1,062,723 @ 7.0% cap · market cap 5,593,278.95%

Second Best

Warehouse

$13.89M

$12.15M – $16.20M (±1% cap)

NOI $972,045 @ 7.0% cap · market cap 5,116,026.32%

Theoretical Best

Office A

$27.76M

$24.29M – $32.38M (±1% cap)

NOI $1,942,995 @ 7.0% cap · market cap 10,226,289.47%

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

Property Analytics

Current Use

B3 Material Testing ... General Contractor

Suggested Use

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

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

Location Intelligence

Trade Area within ½ mile

2,709

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

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?

Flex space - Functional industrial layout supports storage, light industrial, and service uses.

Where is this flex space located?

The property is located at 1676 W 31st Pl 1676 Hialeah, FL.

What are key features of this property?

This property features: 17‑foot clear height; Remodeled office area; LED lighting throughout the space