Corner Flex Space with
For Sale
$29,500,000
17355 NW 59th Ave, Hialeah, FL 33015
The property combines fully air-conditioned space with renovated offices and storage for flexible commercial use.
Property Size98,357 SF
Lot Size7.45 Acres
Price / SF$299.93
Days on Market27
Property Features for 17355 NW 59th Ave
General Information
Standard status
Active
Size
98,357 SF
Total Parking Spaces
410
Lot size
7.45 Acres
Site & Location
Corner Location
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
32 ft
Conditioned Warehouse
Yes
Amenities
elevator
grease trap
Building Details
Year Built
2000
Listing Agency:
Primetime Realty Group, Inc.
(305) 512-0532
Listed By:
Juan G Huice · License #3088139
Source:
Thepennteam
Added: Aug 3
Changed: Aug 28
Last Checked: Aug 28 at 7:52PM
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 Primetime Realty Group, Inc.
Investment Insights
Based on property information with market context.
This flex property is positioned on a 7.45-acre corner site and includes fully air-conditioned interior space, 32-foot ceilings, LED lighting, modern electrical systems, an elevator, and more than 12,000 square feet of renovated offices and storage. Additional improvements include a grease trap and high-volume water allocation, supporting the property’s stated retail, industrial, showroom, warehouse, and specialty-use capabilities.
The address is next to Walmart, Lowe’s, and BJ’s Wholesale Club in the Miami Lakes/Hialeah area. The site includes more than 410 parking spaces and is situated within a growing retail corridor described as high traffic. Built in 2000, the property combines substantial commercial improvements with a prominent corner-site configuration.
The address is next to Walmart, Lowe’s, and BJ’s Wholesale Club in the Miami Lakes/Hialeah area. The site includes more than 410 parking spaces and is situated within a growing retail corridor described as high traffic. Built in 2000, the property combines substantial commercial improvements with a prominent corner-site configuration.
Key Highlights
- 7.45‑acre corner site in Hialeah, FL
- 32‑foot ceilings with fully air‑conditioned space
- More than 410 parking spaces
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
$1,710,232
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
5.80%
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%
$34,204,640
$34.2M
Cap Rate 7%
$24,431,886
$24.4M
Cap Rate 9%
$19,002,578
$19.0M
Market Conditions
NOI Build-Up for 98,357 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
$2.66M $27.00/SF
− Vacancy
−$212.5K −$2.16/SF
EGI
$2.44M $24.84/SF
− OpEx
−$733.0K −$7.45/SF
NOI
$1.71M $17.39/SF
Area
Hialeah, FL
Vacancy
8.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$34,204,640
Cap Rate 7%
$24,431,886
Cap Rate 9%
$19,002,578
Alternative Uses
Best Use
Retail
$24.43M
$21.38M – $28.50M
NOI $1,710,232 @ 7.0% cap · market cap 5.80%
Second Best
Flex RnD
$21.17M
$18.53M – $24.70M
NOI $1,482,201 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$38.71M
$33.87M – $45.17M
NOI $2,709,932 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
32 ft
Clear height
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,600
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33015, FL
65,645
Population
23,963
Households
2.7
Avg Household Size
39
Median Age
31%
College-Educated
88%
High-School Grad
5.9 sq mi
ZIP Area
11,126
Density / Sq Mi
$73,609
Median Household Income
$37,274
Median Earnings
$1,841
Median Rent
$384,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- CJs Catering — 5190 NW 167th St, Miami Gardens, FL 33014
- Melians Enterprises — 6157 NW 167th St STE F27, Hialeah, FL 33015
- Mary & Mo Catering — 6643 NW 174th Ln, Hialeah, FL 33015
- Crazy 4 Meat — 6970 NW 177th St, Hialeah, FL 33015
- Simple Southern Catering — 18538 NW 67th Ave, Miami Gardens, FL 33015
Frequently Asked Questions
What type of property is this?
Flex space - The property combines fully air-conditioned space with renovated offices and storage for flexible commercial use.
Where is this flex space located?
The property is located at 17355 NW 59th Ave Hialeah, FL.
What is the asking price?
The asking price for this property is $29,500,000.
What are key features of this property?
This property features: 7.45‑acre corner site in Hialeah, FL; 32‑foot ceilings with fully air‑conditioned space; More than 410 parking spaces
