Remodeled Two-Story Flex
For Sale
$420,000
1701 W 37th St # 15, Hialeah, FL 33012
Updated commercial unit combines private offices, a bathroom, and adaptable open workspace.
Property Size1,100 SF
Price / SF$323.08
Days on Market128
Property Features for 1701 W 37th St # 15
General Information
Standard status
Active
Size
1,100 SF
Total Parking Spaces
2
Property subtype
Mixed Use
Amenities
private bathroom
security camera system
Building Details
Building Size
1,100 SF
Year Built
2000
Stories
2
Listing Agency:
Brickell Investment Realty
(305) 372-0114
Listed By:
Sebastian Simms · License #3099784
Source:
Miamibrokersgroup
Added: Apr 9
Changed: Aug 14
Last Checked: Aug 14 at 3:20AM
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.
This two-story flex unit offers 1,300 sq ft of remodeled commercial space with private offices, a private bathroom, and open area that can support light manufacturing, craftsmanship, or professional workspace. The property includes two assigned parking spaces and a security camera system, providing defined parking and on-site monitoring for the unit.
Built in 2000, the property is located at 1701 W 37th St # 15 in Hialeah, Florida. A post-occupancy agreement is available for the convenience of both parties.
Built in 2000, the property is located at 1701 W 37th St # 15 in Hialeah, Florida. A post-occupancy agreement is available for the convenience of both parties.
Key Highlights
- 1,300 sq ft two‑story flex unit
- Completely remodeled commercial space
- Private offices, bathroom, and open workspace
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
3,464
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Updated commercial unit combines private offices, a bathroom, and adaptable open workspace.
Where is this flex space located?
The property is located at 1701 W 37th St # 15 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: 1,300 sq ft two‑story flex unit; Completely remodeled commercial space; Private offices, bathroom, and open workspace
