Miami Lakes Office/Warehouse
For Sale
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6135 NW 167th St # E19, Hialeah, FL 33015
2,412 SF office space with warehouse in Miami Lakes.
Property Size2,412 SF
Price / SF$323.38
Days on Market214
Property Features for 6135 NW 167th St # E19
General Information
Standard status
Active
Size
2,412 SF
Total Parking Spaces
3
Property subtype
Industrial
Zoning
7700
Building Details
Year Built
1985
Listing Agency:
Yuruany A Munoz PA
Listed By:
Yuruany Munoz · License #3264148
Source:
Crexi
Added: Jan 30
Changed: Aug 31
Last Checked: Aug 14 at 6:06AM
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 Yuruany A Munoz PA
Investment Insights
Based on property information with market context.
This 2,412 square foot office space, plus a mezzanine, is located on the perimeter road of 826 Palmetto Expressway in Miami Lakes, just minutes from I-75. The building includes a large lobby with a reception area, a conference room, four private offices, and a warehouse. It also features two bathrooms and a large storage area with filing cabinets and space for inventory. The property is situated in the commercial center of Miami and benefits from a secure area with nighttime and weekend security gate.
Key Highlights
- Prime location on the perimeter road of 826 Palmetto Expressway, Miami Lakes.
- Proximity to I‑75 highway.
- 2,412 sq ft of office space plus a mezzanine.
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
$36,348
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
4.66%
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%
$726,960
$727.0K
Cap Rate 7%
$519,257
$519.3K
Cap Rate 9%
$403,867
$403.9K
Market Conditions
NOI Build-Up for 2,412 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
$60.8K $25.20/SF
− Vacancy
−$4.9K −$2.02/SF
EGI
$55.9K $23.18/SF
− OpEx
−$19.6K −$8.11/SF
NOI
$36.3K $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%
$726,960
Cap Rate 7%
$519,257
Cap Rate 9%
$403,867
Alternative Uses
Best Use
Flex RnD
$519.3K
$454.4K – $605.8K
NOI $36,348 @ 7.0% cap · market cap 4.66%
Second Best
Industrial
$391.1K
$342.2K – $456.3K
NOI $27,379 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$949.4K
$830.7K – $1.11M
NOI $66,455 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,623
Businesses Nearby
Balanced
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
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Frequently Asked Questions
What type of property is this?
Flex space - 2,412 SF office space with warehouse in Miami Lakes.
Where is this flex space located?
The property is located at 6135 NW 167th St # E19 Hialeah, FL.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: Prime location on the perimeter road of 826 Palmetto Expressway, Miami Lakes.; Proximity to I‑75 highway.; 2,412 sq ft of office space plus a mezzanine.
