Freestanding Flex Industrial
New
For Sale
$2,895,000
2202 W 78TH St, Hialeah, FL 33016
Single-story industrial facility combines warehouse, production, office, and grade-level loading areas within an established business park.
Property Size5,994 SF
Lot Size0.30 Acres
Price / SF$482.98
Days on Market2
Property Features for 2202 W 78TH St
General Information
Standard status
Active
Size
5,994 SF
Total Parking Spaces
8
Lot size
0.30 Acres
Property subtype
Industrial
Warehouse & Industrial
Mezzanine
700 SF
Conditioned Warehouse
Yes
Additional Details
Asking Price
$2,895,000
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$18,733
Building Details
Building Size
5,994 SF
Year Built
1997
Buildings
1
Stories
1
Units
1
Construction
concrete-block/masonry
Listing Agency:
The Keyes Company
(954) 558-0145
Listed By:
Rafael Jose Gabeiras · License #3239461
(954) 558-0145
Source:
Elliman
Added: Aug 5
Changed: Aug 6
Last Checked: Aug 6 at 3:59AM
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 The Keyes Company
Investment Insights
Based on property information with market context.
This freestanding, single-story flex property contains approximately 5,994 square feet plus 700 sf of mezzanine and loft space on an approximately 0.30-acre paved site. The building uses concrete-block/masonry construction over a reinforced concrete slab and includes warehouse, production, office, reception, restroom, and utility areas. Two warehouse areas function as one unit, with grade-level loading access, a separate pedestrian entrance, and open-span space for storage, distribution, assembly, or light manufacturing. Climate control includes two Mini Split Systems in one warehouse and a 5 ton HVAC unit in the other.
Located at 2202 W. 78th Street in Terranova Industrial Park, the property fronts W. 78th Street near W. 22nd Avenue in West Hialeah's established industrial submarket. Access is available to SR 826, I-75, Gratigny Parkway, and Florida's Turnpike. Miami International Airport is approximately 4.9 miles away, with an estimated drive time of approximately 19 minutes under normal conditions. The Palmetto Metrorail station is approximately 4.2 miles away.
The building is currently occupied, with potential for vacant delivery or a short-term leaseback. On-site surface parking accommodates 8 vehicles, and the property was built in 1997.
Located at 2202 W. 78th Street in Terranova Industrial Park, the property fronts W. 78th Street near W. 22nd Avenue in West Hialeah's established industrial submarket. Access is available to SR 826, I-75, Gratigny Parkway, and Florida's Turnpike. Miami International Airport is approximately 4.9 miles away, with an estimated drive time of approximately 19 minutes under normal conditions. The Palmetto Metrorail station is approximately 4.2 miles away.
The building is currently occupied, with potential for vacant delivery or a short-term leaseback. On-site surface parking accommodates 8 vehicles, and the property was built in 1997.
Key Highlights
- Approximately 5,994 square feet plus 700 sf of mezzanine and loft space
- Approximately 0.30‑acre paved industrial site in Terranova Industrial Park
- Grade‑level loading, warehouse, production, office, and open‑span work areas
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
$115,714
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
4.00%
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%
$2,314,280
$2.3M
Cap Rate 7%
$1,653,057
$1.7M
Cap Rate 9%
$1,285,711
$1.3M
Market Conditions
NOI Build-Up for 5,994 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
$197.8K $33.00/SF
− Vacancy
−$43.5K −$7.26/SF
EGI
$154.3K $25.74/SF
− OpEx
−$38.6K −$6.44/SF
NOI
$115.7K $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%
$2,314,280
Cap Rate 7%
$1,653,057
Cap Rate 9%
$1,285,711
Alternative Uses
Best Use
Office B
$1.65M
$1.45M – $1.93M
NOI $115,714 @ 7.0% cap · market cap 4.00%
Second Best
Flex RnD
$1.29M
$1.13M – $1.51M
NOI $90,327 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$2.36M
$2.06M – $2.75M
NOI $165,147 @ 7.0% cap · market cap 5.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,020
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33016, FL
45,714
Population
16,158
Households
2.8
Avg Household Size
43
Median Age
28%
College-Educated
83%
High-School Grad
4.2 sq mi
ZIP Area
10,884
Density / Sq Mi
$56,633
Median Household Income
$33,069
Median Earnings
$1,753
Median Rent
$295,800
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.
Similar Off Market Nearby
- La Cocina Criolla — 2815 W 76th St, Hialeah, FL 33018
- Black Tie Affair — 1800 W 68th St, Hialeah, FL 33014
- Clean Eating meal prep — 2781 W 72nd Pl, Hialeah, FL 33016
- Delicias Gourmet Catering Corp. — 2030 W 68th St, Hialeah, FL 33016
- OMSWAT — 2530 W 67th Pl, Hialeah, FL 33016
Frequently Asked Questions
What type of property is this?
Flex space - Single-story industrial facility combines warehouse, production, office, and grade-level loading areas within an established business park.
Where is this flex space located?
The property is located at 2202 W 78TH St Hialeah, FL.
What is the asking price?
The asking price for this property is $2,895,000.
What are key features of this property?
This property features: Approximately 5,994 square feet plus 700 sf of mezzanine and loft space; Approximately 0.30‑acre paved industrial site in Terranova Industrial Park; Grade‑level loading, warehouse, production, office, and open‑span work areas
