Flex Warehouse Condo with
For Sale
$480,000
1750 W 39th Pl 1007, Hialeah, FL 33012
Flex warehouse condo features a second-floor office/storage mezzanine, two first-floor bathrooms, and two assigned parking spaces.
Property Size1,816 SF
Price / SF$264.32
Days on Market69
Property Features for 1750 W 39th Pl 1007
General Information
Standard status
Active
Size
1,816 SF
Total Parking Spaces
2
Property subtype
Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,648
Building Details
Building Size
1,816 SF
Year Built
1980
Stories
2
Listing Agency:
Avanti Way Commercial
(305) 216-4636
Listed By:
Jerry Stapel
(305) 216-4636
Source:
Elliman
Added: Jun 17
Changed: Aug 23
Last Checked: Aug 24 at 9:42AM
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 Avanti Way Commercial
Investment Insights
Based on property information with market context.
This flex warehouse condominium was originally built as a 1,166 SF warehouse unit and has been improved with an approximately 650 SF second-floor office/storage mezzanine. The configuration provides a combination of warehouse and office functionality, supported by about 900 SF of storage/warehouse area and about 916 SF designated as office space. The entire unit is fully air-conditioned and is serviced by two central A/C systems.
The property is located in Hialeah with convenient access to Palmetto Expressway (SR-826) and Okeechobee Road, placing it near major transportation corridors.
Additional features include two bathrooms on the first floor and two assigned parking spaces, with a flexible layout designed to accommodate a variety of business operations. Buyer to independently verify square footage, permitted improvements, zoning, and intended use.
The property is located in Hialeah with convenient access to Palmetto Expressway (SR-826) and Okeechobee Road, placing it near major transportation corridors.
Additional features include two bathrooms on the first floor and two assigned parking spaces, with a flexible layout designed to accommodate a variety of business operations. Buyer to independently verify square footage, permitted improvements, zoning, and intended use.
Key Highlights
- Flex warehouse condo built in 1980 with an estimated 1,816 SF total usable area after improvements.
- Includes an approximately 650 SF second‑floor office/storage mezzanine for added work and storage capacity.
- Space breakdown includes approximately 900 SF storage/warehouse (about 650 SF ground + 250 SF second floor) and about 916 SF office.
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
$35,058
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
7.30%
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%
$701,160
$701.2K
Cap Rate 7%
$500,829
$500.8K
Cap Rate 9%
$389,533
$389.5K
Market Conditions
NOI Build-Up for 1,816 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
$59.9K $33.00/SF
− Vacancy
−$13.2K −$7.26/SF
EGI
$46.7K $25.74/SF
− OpEx
−$11.7K −$6.44/SF
NOI
$35.1K $19.31/SF
Area
Hialeah, FL
Vacancy
22.00%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
25.00%
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%
$701,160
Cap Rate 7%
$500,829
Cap Rate 9%
$389,533
Alternative Uses
Best Use
Office B
$500.8K
$438.2K – $584.3K
NOI $35,058 @ 7.0% cap · market cap 7.30%
Second Best
Flex RnD
$390.9K
$342.1K – $456.1K
NOI $27,366 @ 7.0% cap · market cap 5.70%
Theoretical Best
Office A
$714.8K
$625.4K – $833.9K
NOI $50,034 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Flex warehouse condo features a second-floor office/storage mezzanine, two first-floor bathrooms, and two assigned parking spaces.
Where is this flex space located?
The property is located at 1750 W 39th Pl 1007 Hialeah, FL.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Flex warehouse condo built in 1980 with an estimated 1,816 SF total usable area after improvements.; Includes an approximately 650 SF second‑floor office/storage mezzanine for added work and storage capacity.; Space breakdown includes approximately 900 SF storage/warehouse (about 650 SF ground + 250 SF second floor) and about 916 SF office.
