Two-Story Warehouse and Retail
For Sale
$4,500,000
249-275 W 29th St, Hialeah, FL 33012
Two-story warehouse and retail storefront space with street-facing frontage, three truck-height loading doors, and dedicated parking.
Property Size12,200 SF
Lot Size0.29 Acres
Price / SF$375
Days on Market50
Property Features for 249-275 W 29th St
General Information
Standard status
Active
Size
12,200 SF
Total Parking Spaces
7
Lot size
0.29 Acres
Property subtype
Mixed Use
Zoning
6400 Commercial Central
Site & Location
Road Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
14 ft
Dock-High Doors
3
Additional Details
Business Included
Yes
Building Details
Building Size
12,200 SF
Year Built
1967
Stories
2
Tenancy
Single
Listing Agency:
BHHS EWM Realty
(305) 674-4000
Listed By:
Esther Percal · License #0197819
Source:
Relinkre
Added: Jul 8
Changed: Aug 24
Last Checked: Aug 26 at 1:04PM
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 BHHS EWM Realty
Investment Insights
Based on property information with market context.
This two-story mixed-use commercial property includes approximately 12,200 SF of warehouse space and retail storefront space, offered on a 12,657 SF lot with about 93 feet of street frontage. The building features three truck-height loading doors and a fenced loading area, supported by ceiling heights of approximately 13 to 14.3 feet on the first floor and 11.1 to 12.8 feet within the second-floor warehouse area. Seven dedicated parking spaces are provided. The structure includes a Twin-T concrete roof system, along with aluminum flat roof sections described as less than 10 years old, and a 40KW backup generator with a 200-gallon fuel tank.
Located at 249-275 W 29th St in Hialeah, the property is zoned 6400 Commercial Central with Mixed-Use Store/Residential land use designation. The building is currently occupied by an electrical supply business, which may also be acquired with the property. Please do not disturb the business or approach employees or ownership; contact the listing agents for requests.
Located at 249-275 W 29th St in Hialeah, the property is zoned 6400 Commercial Central with Mixed-Use Store/Residential land use designation. The building is currently occupied by an electrical supply business, which may also be acquired with the property. Please do not disturb the business or approach employees or ownership; contact the listing agents for requests.
Key Highlights
- Over 12,000 SF two‑story warehouse and retail storefront on a 12,657 SF lot with approx. 93 ft of street frontage
- Two‑story layout with three truck‑height loading doors and a fenced loading area
- First‑floor ceiling heights approx. 13 to 14.3 ft; second‑floor warehouse ceiling heights approx. 11.1 to 12.8 ft
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
$208,656
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
4.64%
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%
$4,173,120
$4.2M
Cap Rate 7%
$2,980,800
$3.0M
Cap Rate 9%
$2,318,400
$2.3M
Market Conditions
NOI Build-Up for 12,000 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
$324.0K $27.00/SF
− Vacancy
−$25.9K −$2.16/SF
EGI
$298.1K $24.84/SF
− OpEx
−$89.4K −$7.45/SF
NOI
$208.7K $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%
$4,173,120
Cap Rate 7%
$2,980,800
Cap Rate 9%
$2,318,400
Alternative Uses
Best Use
Retail
$2.98M
$2.61M – $3.48M
NOI $208,656 @ 7.0% cap · market cap 4.64%
Second Best
Flex RnD
$2.58M
$2.26M – $3.01M
NOI $180,835 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$4.72M
$4.13M – $5.51M
NOI $330,624 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
14 ft
Clear height
3
Dock-high doors
Single-tenant
Tenancy
Turnkey business
Opportunity
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,870
Businesses Nearby
Balanced
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 - Two-story warehouse and retail storefront space with street-facing frontage, three truck-height loading doors, and dedicated parking.
Where is this flex space located?
The property is located at 249-275 W 29th St Hialeah, FL.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Over 12,000 SF two‑story warehouse and retail storefront on a 12,657 SF lot with approx. 93 ft of street frontage; Two‑story layout with three truck‑height loading doors and a fenced loading area; First‑floor ceiling heights approx. 13 to 14.3 ft; second‑floor warehouse ceiling heights approx. 11.1 to 12.8 ft
