Hialeah Commercial/Industrial Condo
For Sale
$679,999
3960 W 16th Ave 204, Hialeah, FL 33012
Versatile condo warehouse in Hialeah's bustling shopping center.
Property Size2,145 SF
Lot Size0.05 Acres
Days on Market157
Property Features for 3960 W 16th Ave 204
General Information
Standard status
Active
Size
2,145 SF
Lot size
0.05 Acres
Property subtype
Industrial
Building Details
Building Size
2,145 SF
Listing Agency:
MGR Realty Services, Inc.
(305) 570-8128
Listed By:
Anaelsy Almarales
(305) 570-8128
Source:
Elliman
Added: Mar 11
Changed: Aug 14
Last Checked: Aug 14 at 6:03AM
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 MGR Realty Services, Inc.
Investment Insights
Based on property information with market context.
Located in a highly desirable area within a bustling shopping center in Hialeah, this commercial/industrial condo warehouse offers an exceptional opportunity for business owners seeking visibility and convenience. The flexible layout is suited for a range of commercial and industrial uses, making this space ideal for retail, office, storage, or light manufacturing operations. The strategic location provides excellent access to major roads and high foot traffic. The Home Owner's Association has no assessments, ensuring a stable and cost-effective investment. The property is located at 3960 W 16th Ave 204, Hialeah, FL 33012.
Key Highlights
- Prime location in a highly desirable, bustling Hialeah shopping center.
- Versatile space suitable for retail, office, storage, or light manufacturing.
- Excellent access to major roads and high foot traffic.
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
$32,324
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
4.75%
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%
$646,480
$646.5K
Cap Rate 7%
$461,771
$461.8K
Cap Rate 9%
$359,156
$359.2K
Market Conditions
NOI Build-Up for 2,145 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
$54.1K $25.20/SF
− Vacancy
−$4.3K −$2.02/SF
EGI
$49.7K $23.18/SF
− OpEx
−$17.4K −$8.11/SF
NOI
$32.3K $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%
$646,480
Cap Rate 7%
$461,771
Cap Rate 9%
$359,156
Alternative Uses
Best Use
Flex RnD
$461.8K
$404.1K – $538.7K
NOI $32,324 @ 7.0% cap · market cap 4.75%
Second Best
Warehouse
$422.4K
$369.6K – $492.8K
NOI $29,566 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$844.3K
$738.7K – $985.0K
NOI $59,099 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,175
Businesses Nearby
Under-served
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 - Versatile condo warehouse in Hialeah's bustling shopping center.
Where is this flex space located?
The property is located at 3960 W 16th Ave 204 Hialeah, FL.
What is the asking price?
The asking price for this property is $679,999.
What are key features of this property?
This property features: Prime location in a highly desirable, bustling Hialeah shopping center.; Versatile space suitable for retail, office, storage, or light manufacturing.; Excellent access to major roads and high foot traffic.
