Four-Bay
For Sale
$2,600,000
3787 NW 38th St, Hialeah, FL 33142
The bays accommodate a single occupant or separate leasing arrangements.
Property Size9,000 SF
Lot Size0.29 Acres
Price / SF$288.89
Days on Market16
Property Features for 3787 NW 38th St
General Information
Standard status
Active
Size
9,000 SF
Lot size
0.29 Acres
Property subtype
Industrial
Zoning
7100 Industrial
Additional Details
Gross Income
$174,000
Warehouse Space
9,000 SF
Amenities
Square Feet: 12420
Parcel Number: 04-31-20-018-0190, Tax Legal Description: AMD PL MELROSE GDNS PB 7-94 LOTS 12 & 13 BLK 2 LOT SIZE 12420 SQUARE FEET OR 15133-4492 0791 1
Flooring: Concrete
Business Type: Industrial, Warehouse Space, Special Listing Conditions: Sale, Standard Status: Active
Features: Assigned, Awning, Loading Spaces
Stories: 1, Year Built: 1959, Building Area Total: 9000, Structure Type: Industrial
County Or Parish: Miami-Dade County
Leasable Area Units: Square Feet
Electric On Property YN: t, Electric: 3 Phase Electric
Building Details
Year Built
1959
Buildings
1
Building Size
9,000 SF
Listing Agency:
Fausto Commercial Realty Consultants Inc
Listed By:
Ernesto Diaz · License #3124735
(786) 499-4912
Source:
Riserealty
Added: Sep 21
Changed: Oct 4
Last Checked: Oct 5 at 6:39PM
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 Fausto Commercial Realty Consultants Inc
Investment Insights
Based on property information with market context.
Built in 1959, this 9,000-square-foot warehouse contains four bays. The configuration allows the space to be used by one occupant or leased in separate sections. The owner uses one bay, while two other bays are occupied by month-to-month tenants.
The property sits on an approximately 12,420-square-foot lot at 3787 NW 38th St in Hialeah. Its land-use designation is 7100 Industrial – Light Manufacturing, supporting distribution, service, contractor, and light manufacturing uses. The site is near the airport.
The property sits on an approximately 12,420-square-foot lot at 3787 NW 38th St in Hialeah. Its land-use designation is 7100 Industrial – Light Manufacturing, supporting distribution, service, contractor, and light manufacturing uses. The site is near the airport.
Key Highlights
- 9,000‑square‑foot warehouse with four bays
- Approximately 12,420‑square‑foot lot
- Built in 1959
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$124,054
Cap Rate
4.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,481,080
$2.5M
Cap Rate 7%
$1,772,200
$1.8M
Cap Rate 9%
$1,378,378
$1.4M
Market Conditions
NOI Build-Up for 9,000 SF
Gross rent
$154.4K $17.16/SF
− Vacancy
−$8.5K −$0.94/SF
EGI
$145.9K $16.22/SF
− OpEx
−$21.9K −$2.43/SF
NOI
$124.1K $13.78/SF
Area
Hialeah, FL
Vacancy
5.50%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,481,080
Cap Rate 7%
$1,772,200
Cap Rate 9%
$1,378,378
Alternative Uses
Best Use
Warehouse
$1.77M
$1.55M – $2.07M
NOI $124,054 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.54M
$3.10M – $4.13M
NOI $247,968 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,958
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Warehouse - The bays accommodate a single occupant or separate leasing arrangements.
Where is this warehouse located?
The property is located at 3787 NW 38th St Hialeah, FL.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 9,000‑square‑foot warehouse with four bays; Approximately 12,420‑square‑foot lot; Built in 1959
