Remodeled Two-Story Flex
New
For Sale
$420,000
1701 W 37th St Unit 15, Hialeah, FL 33012
Private offices, a bathroom, and adaptable open workspace support light manufacturing or professional use.
Property Size1,100 SF
Price / SF$381.82
Days on Market2
Property Features for 1701 W 37th St Unit 15
General Information
Standard status
Active
Size
1,100 SF
Total Parking Spaces
2
Amenities
security camera system
Building Details
Year Built
2000
Stories
2
Listing Agency:
Brickell Investment Realty
Listed By:
Sebastian Simms · License #3099784
(305) 372-0114
Source:
Thepennteam
Added: Sep 16
Changed: Sep 17
Last Checked: Sep 16 at 2:42PM
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 space at 1701 W 37th St Unit 15 includes private offices, a private bathroom, and adaptable open area for light manufacturing, craftsmanship, or professional workspace. The unit was built in 2000 and has been remodeled, with a security camera system supporting controlled operations.
Two assigned parking spaces are included. The combination of enclosed office areas, bathroom facilities, and open workspace provides a practical layout for businesses needing both administrative and operational areas within one commercial unit.
Two assigned parking spaces are included. The combination of enclosed office areas, bathroom facilities, and open workspace provides a practical layout for businesses needing both administrative and operational areas within one commercial unit.
Key Highlights
- Two‑story flex space with private offices, a private bathroom, and open workspace
- Remodeled interior suitable for light manufacturing, craftsmanship, or professional workspace
- Security camera system included
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
$16,577
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
3.95%
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%
$331,540
$331.5K
Cap Rate 7%
$236,814
$236.8K
Cap Rate 9%
$184,189
$184.2K
Market Conditions
NOI Build-Up for 1,100 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
$27.7K $25.20/SF
− Vacancy
−$2.2K −$2.02/SF
EGI
$25.5K $23.18/SF
− OpEx
−$8.9K −$8.11/SF
NOI
$16.6K $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%
$331,540
Cap Rate 7%
$236,814
Cap Rate 9%
$184,189
Alternative Uses
Best Use
Flex RnD
$236.8K
$207.2K – $276.3K
NOI $16,577 @ 7.0% cap · market cap 3.95%
Second Best
Warehouse
$216.6K
$189.5K – $252.7K
NOI $15,162 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$433.0K
$378.8K – $505.1K
NOI $30,307 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Private offices, a bathroom, and adaptable open workspace support light manufacturing or professional use.
Where is this flex space located?
The property is located at 1701 W 37th St Unit 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: Two‑story flex space with private offices, a private bathroom, and open workspace; Remodeled interior suitable for light manufacturing, craftsmanship, or professional workspace; Security camera system included
