West Hialeah Industrial Investment
For Sale
$1,300,000
371 West 21st Street, Hialeah, FL 33010
Two flex space warehouses in Hialeah, prime investment opportunity.
Property Size10,028 SF
Price / SF$129.64
Days on Market340
Property Features for 371 West 21st Street
General Information
Standard status
Active
Size
10,028 SF
Property subtype
Industrial
Amenities
*0.15 Acre of land
* 5,014 FLEX space
* Approximately 30,000 cars daily
Building Details
Building Size
10,028 SF
Listing Agency:
RE/MAX
(305) 450-5992
Listed By:
Agustin Duarte · License #3284824
(305) 450-5992
Source:
Remaxcommercial
Added: Sep 25, 2025
Changed: Aug 8
Last Checked: Aug 29 at 5:49AM
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
Investment Insights
Based on property information with market context.
An investment opportunity is available along the West Hialeah TOD, featuring two individual warehouses on West 21st Street. Each warehouse is approximately 0.15 acres, around 6,700 square feet, with each warehouse measuring approximately 5,014 square feet. The property features one individual, flex space warehouse. The warehouses are occupied by the owner/user. Hialeah and Medley are key industrial hubs in Miami, known for their inventory and connectivity. Most industrial properties are in the southeastern region near Interstate 95, providing Hialeah's industrial tenants access to South Florida. Sales volume has decreased since 2023, following a surge. In the past 12 months, transaction activity has totaled $96.1 million, down from the peak annual volume of over $234 million in 2021 and below the five-year average annual volume of $151 million. The industrial cap rate averaging 5.6% in the last year, compared to 6.0% four quarters ago, has contributed to rising prices since 2019.
Key Highlights
- Prime investment opportunity in West Hialeah TOD (Transit Oriented Development) area.
- Two individual warehouses available, each approximately 5,014 square feet.
- Located in Hialeah, a key industrial hub in Miami with substantial inventory and connectivity.
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
$113,831
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
8.76%
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%
$2,276,620
$2.3M
Cap Rate 7%
$1,626,157
$1.6M
Cap Rate 9%
$1,264,789
$1.3M
Market Conditions
NOI Build-Up for 10,028 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
$172.1K $17.16/SF
− Vacancy
−$9.5K −$0.94/SF
EGI
$162.6K $16.22/SF
− OpEx
−$48.8K −$4.86/SF
NOI
$113.8K $11.35/SF
Area
Hialeah, FL
Vacancy
5.50%
Lease Rate
$17.16 /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%
$2,276,620
Cap Rate 7%
$1,626,157
Cap Rate 9%
$1,264,789
Alternative Uses
Best Use
Flex RnD
$2.16M
$1.89M – $2.52M
NOI $151,118 @ 7.0% cap · market cap 11.62%
Second Best
Warehouse
$1.97M
$1.73M – $2.30M
NOI $138,224 @ 7.0% cap · market cap 10.63%
Theoretical Best
Office A
$3.95M
$3.45M – $4.60M
NOI $276,291 @ 7.0% cap · market cap 21.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,562
Businesses Nearby
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - Two flex space warehouses in Hialeah, prime investment opportunity.
Where is this industrial property located?
The property is located at 371 West 21st Street 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: Prime investment opportunity in West Hialeah TOD (Transit Oriented Development) area.; Two individual warehouses available, each approximately 5,014 square feet.; Located in Hialeah, a key industrial hub in Miami with substantial inventory and connectivity.
