Flex Space
For Sale
Contact for pricing
371 W 21st St, Hialeah, FL 33010
Located on W 21st St with approximately 30,000 cars daily.
Property Size4,755 SF
Lot Size0.15 Acres
Price / SF$273.40
Days on Market57
Property Features for 371 W 21st St
General Information
Standard status
Active
Size
4,755 SF
Lot size
0.15 Acres
Property subtype
INDUSTRIAL
Listing Agency:
RE/MAX 360 Real Estate | Coral Gables
(305) 602-0360
Listed By:
Agustin Duarte · License #A11825546
(305) 450-5992
Source:
Moodyscre
Added: Jul 23
Changed: Sep 6
Last Checked: Sep 16 at 2:21PM
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 RE/MAX 360 Real Estate | Coral Gables
Investment Insights
Based on property information with market context.
This flex space property includes 0.15 acres of land and is positioned for commercial exposure along W 21st St. The property is located at 371 W 21st St in Hialeah, Florida 33010.
Approximately 30,000 cars travel by daily, providing a measurable traffic setting for the property.
Approximately 30,000 cars travel by daily, providing a measurable traffic setting for the property.
Key Highlights
- 0.15 acres of land
- Flex space property on W 21st St
- Approximately 30,000 cars daily
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
$71,656
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
5.51%
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%
$1,433,120
$1.4M
Cap Rate 7%
$1,023,657
$1.0M
Cap Rate 9%
$796,178
$796.2K
Market Conditions
NOI Build-Up for 4,755 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
$119.8K $25.20/SF
− Vacancy
−$9.6K −$2.02/SF
EGI
$110.2K $23.18/SF
− OpEx
−$38.6K −$8.11/SF
NOI
$71.7K $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%
$1,433,120
Cap Rate 7%
$1,023,657
Cap Rate 9%
$796,178
Alternative Uses
Best Use
Flex RnD
$1.02M
$895.7K – $1.19M
NOI $71,656 @ 7.0% cap · market cap 5.51%
Second Best
Industrial
$771.1K
$674.7K – $899.6K
NOI $53,976 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$1.87M
$1.64M – $2.18M
NOI $131,010 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,562
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33010, FL
43,902
Population
16,456
Households
2.7
Avg Household Size
48
Median Age
20%
College-Educated
71%
High-School Grad
4.3 sq mi
ZIP Area
10,210
Density / Sq Mi
$45,449
Median Household Income
$30,466
Median Earnings
$1,318
Median Rent
$346,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Dixie Catering — 2630 W 2nd Ave, Hialeah, FL 33010
Frequently Asked Questions
What type of property is this?
Flex space - Located on W 21st St with approximately 30,000 cars daily.
Where is this flex space located?
The property is located at 371 W 21st St Hialeah, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 0.15 acres of land; Flex space property on W 21st St; Approximately 30,000 cars daily
