Street-Level Flex Warehouse
For Sale
$540,000
5921 NW 176th St # 9, Hialeah, FL 33015
Built in 2007, this street-level flex warehouse condo offers durable concrete roof and floor construction.
Property Size1,688 SF
Price / SF$320.47
Days on Market74
Property Features for 5921 NW 176th St # 9
General Information
Standard status
Active
Size
1,688 SF
Property subtype
Flex Space
Zoning
7700 Heavy Commercial/Industrial – Restricted
Additional Details
Highway Access
Yes
Building Details
Building Size
1,688 SF
Year Built
2007
Listing Agency:
United Realty Group Inc
Listed By:
Juan Urbina Jr · License #3262548
(305) 753-7393
Source:
Vanessafrankmiami
Added: Jun 25
Changed: Aug 23
Last Checked: Sep 6 at 11:40AM
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 United Realty Group Inc
Investment Insights
Based on property information with market context.
This street-level flex warehouse condo is located within Royal Commerce Center and was built in 2007. The unit includes durable concrete roof and floor construction designed for long-term strength. It is configured for industrial-flex use and is being offered for sale as part of a condominium arrangement.
The property provides quick access to the Palmetto Expressway and I-75. It is zoned 7700 Heavy Commercial/Industrial – Restricted.
The listing notes a turnkey floral business currently operating in the space that is also available for purchase separately.
The property provides quick access to the Palmetto Expressway and I-75. It is zoned 7700 Heavy Commercial/Industrial – Restricted.
The listing notes a turnkey floral business currently operating in the space that is also available for purchase separately.
Key Highlights
- 1,685 sq. ft. street‑level flex warehouse condo in Royal Commerce Center
- Built in 2007 with concrete roof and concrete floor construction
- Zoned 7700 Heavy Commercial/Industrial – Restricted, allowing industrial and commercial uses
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
$25,392
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
4.70%
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%
$507,840
$507.8K
Cap Rate 7%
$362,743
$362.7K
Cap Rate 9%
$282,133
$282.1K
Market Conditions
NOI Build-Up for 1,685 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
$42.5K $25.20/SF
− Vacancy
−$3.4K −$2.02/SF
EGI
$39.1K $23.18/SF
− OpEx
−$13.7K −$8.11/SF
NOI
$25.4K $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%
$507,840
Cap Rate 7%
$362,743
Cap Rate 9%
$282,133
Alternative Uses
Best Use
Flex RnD
$362.7K
$317.4K – $423.2K
NOI $25,392 @ 7.0% cap · market cap 4.70%
Second Best
Warehouse
$331.8K
$290.3K – $387.1K
NOI $23,226 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$663.2K
$580.3K – $773.8K
NOI $46,425 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,600
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33015, FL
65,645
Population
23,963
Households
2.7
Avg Household Size
39
Median Age
31%
College-Educated
88%
High-School Grad
5.9 sq mi
ZIP Area
11,126
Density / Sq Mi
$73,609
Median Household Income
$37,274
Median Earnings
$1,841
Median Rent
$384,000
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.
Similar Off Market Nearby
- CJs Catering — 5190 NW 167th St, Miami Gardens, FL 33014
- Melians Enterprises — 6157 NW 167th St STE F27, Hialeah, FL 33015
- Mary & Mo Catering — 6643 NW 174th Ln, Hialeah, FL 33015
- Crazy 4 Meat — 6970 NW 177th St, Hialeah, FL 33015
- Simple Southern Catering — 18538 NW 67th Ave, Miami Gardens, FL 33015
Frequently Asked Questions
What type of property is this?
Flex space - Built in 2007, this street-level flex warehouse condo offers durable concrete roof and floor construction.
Where is this flex space located?
The property is located at 5921 NW 176th St # 9 Hialeah, FL.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: 1,685 sq. ft. street‑level flex warehouse condo in Royal Commerce Center; Built in 2007 with concrete roof and concrete floor construction; Zoned 7700 Heavy Commercial/Industrial – Restricted, allowing industrial and commercial uses
