Versatile Retail/Industrial Condo
For Sale
$679,999
3960 W 16th Avenue #204, Hialeah, FL 33012
Vacant flex condo in Bella Vista Plaza, offering a flexible layout suited to a range of retail, showroom, office, or service uses.
Property Size2,145 SF
Price / SF$317.02
Days on Market62
Property Features for 3960 W 16th Avenue #204
General Information
Standard status
Active
Size
2,145 SF
Zoning
IU1
Building Details
Building Size
2,145 SF
Listing Agency:
MGR Realty Services, Inc.
(305) 570-8128
Listed By:
Anaelsy Almarales
(305) 570-8128
Source:
Laerrealty
Added: Jun 24
Changed: Aug 24
Last Checked: Aug 24 at 3:19AM
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.
This versatile commercial/industrial condo unit is approximately 2,145 SF and is currently vacant and available for immediate occupancy. The space is described as having a flexible layout that can support a variety of business uses, including retail, showroom, jewelry, e-commerce, office, distribution, light assembly, storage, and service-based operations. The unit was previously occupied by a jewelry business and is presented as a suitable fit for a new operator looking to begin without delay.
The property is located within the established Bella Vista Plaza shopping center in Hialeah. The remarks highlight convenient access to major roadways and note strong visibility and customer traffic associated with the center’s surrounding retail activity. BikeScore and WalkScore are provided in the listing data, with somewhat walkable/bikeable ratings and a somewhat limited transit score.
For tenants, the practical value here is adaptability: a single unit that can be configured for multiple operational needs while remaining within a recognizable shopping-center setting. For buyers, the offering is positioned as a flexible condo option within a built-out commercial environment, with the unit currently vacant and ready for occupancy. The listing also notes that flexible lease terms may be considered, and the space is described as easy to show.
The property is located within the established Bella Vista Plaza shopping center in Hialeah. The remarks highlight convenient access to major roadways and note strong visibility and customer traffic associated with the center’s surrounding retail activity. BikeScore and WalkScore are provided in the listing data, with somewhat walkable/bikeable ratings and a somewhat limited transit score.
For tenants, the practical value here is adaptability: a single unit that can be configured for multiple operational needs while remaining within a recognizable shopping-center setting. For buyers, the offering is positioned as a flexible condo option within a built-out commercial environment, with the unit currently vacant and ready for occupancy. The listing also notes that flexible lease terms may be considered, and the space is described as easy to show.
Key Highlights
- Vacant 2,145 SF commercial/industrial condo in Bella Vista Plaza shopping center in Hialeah.
- Flexible layout suited for retail, showroom, jewelry, e‑commerce, office, distribution, light assembly, storage, or service‑based businesses.
- Previously occupied by a jewelry business.
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
$37,297
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
5.48%
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%
$745,940
$745.9K
Cap Rate 7%
$532,814
$532.8K
Cap Rate 9%
$414,411
$414.4K
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
$57.9K $27.00/SF
− Vacancy
−$4.6K −$2.16/SF
EGI
$53.3K $24.84/SF
− OpEx
−$16.0K −$7.45/SF
NOI
$37.3K $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%
$745,940
Cap Rate 7%
$532,814
Cap Rate 9%
$414,411
Alternative Uses
Best Use
Retail
$532.8K
$466.2K – $621.6K
NOI $37,297 @ 7.0% cap · market cap 5.48%
Second Best
Flex RnD
$461.8K
$404.1K – $538.7K
NOI $32,324 @ 7.0% cap · market cap 4.75%
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 - Vacant flex condo in Bella Vista Plaza, offering a flexible layout suited to a range of retail, showroom, office, or service uses.
Where is this flex space located?
The property is located at 3960 W 16th Avenue #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: Vacant 2,145 SF commercial/industrial condo in Bella Vista Plaza shopping center in Hialeah.; Flexible layout suited for retail, showroom, jewelry, e‑commerce, office, distribution, light assembly, storage, or service‑based businesses.; Previously occupied by a jewelry business.
