Flex Space Condo
For Sale
$450,000
1750 W 39th Pl Unit 1005, Hialeah, FL 33012
Commercial condo with a flexible layout for varied business and industrial operations.
Property Size1,166 SF
Price / SF$385.93
Days on Market43
Property Features for 1750 W 39th Pl Unit 1005
General Information
Standard status
Active
Size
1,166 SF
Building Details
Year Built
1980
Listing Agency:
Interinvestments Realty, Inc.
(954) 343-4444
Listed By:
Marcela Avila · License #3443205
Source:
Chenoregroup
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 30 at 8:24PM
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 Interinvestments Realty, Inc.
Investment Insights
Based on property information with market context.
This commercial and industrial condo warehouse provides 1,166 square feet in a flexible configuration. The space is offered in as-is condition and may support commercial or industrial operations, subject to confirmation of permitted uses and improvements with the City of Hialeah Planning and Zoning Department.
The property is positioned within a shopping center near W Okeechobee Rd and the 826 Palmetto Expressway. Access to Miami International Airport, Doral, and the Port of Miami places the warehouse within South Florida’s logistics network. The address is 1750 W 39th Pl Unit 1005, Hialeah, FL, and the building was constructed in 1980.
The property is positioned within a shopping center near W Okeechobee Rd and the 826 Palmetto Expressway. Access to Miami International Airport, Doral, and the Port of Miami places the warehouse within South Florida’s logistics network. The address is 1750 W 39th Pl Unit 1005, Hialeah, FL, and the building was constructed in 1980.
Key Highlights
- 1,166 SF commercial and industrial condo warehouse
- Flexible layout for commercial or industrial operations
- Within a bustling shopping center near W Okeechobee Rd
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
$17,571
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
3.90%
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%
$351,420
$351.4K
Cap Rate 7%
$251,014
$251.0K
Cap Rate 9%
$195,233
$195.2K
Market Conditions
NOI Build-Up for 1,166 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
$29.4K $25.20/SF
− Vacancy
−$2.4K −$2.02/SF
EGI
$27.0K $23.18/SF
− OpEx
−$9.5K −$8.11/SF
NOI
$17.6K $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%
$351,420
Cap Rate 7%
$251,014
Cap Rate 9%
$195,233
Alternative Uses
Best Use
Flex RnD
$251.0K
$219.6K – $292.9K
NOI $17,571 @ 7.0% cap · market cap 3.90%
Second Best
Warehouse
$229.6K
$200.9K – $267.9K
NOI $16,072 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$458.9K
$401.6K – $535.4K
NOI $32,126 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,693
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 - Commercial condo with a flexible layout for varied business and industrial operations.
Where is this flex space located?
The property is located at 1750 W 39th Pl Unit 1005 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: 1,166 SF commercial and industrial condo warehouse; Flexible layout for commercial or industrial operations; Within a bustling shopping center near W Okeechobee Rd
