Corner Unit Warehouse For
For Sale
$495,000
9180 NW 119th St 10, Hialeah Gardens, FL 33018
Well-maintained warehouse with office space, ideal for logistics.
Property Size1,800 SF
Lot Size1.65 Acres
Price / SF$275
Days on Market155
Property Features for 9180 NW 119th St 10
General Information
Standard status
Active
Size
1,800 SF
Lot size
1.65 Acres
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$4,960
Building Details
Building Size
1,800 SF
Year Built
2002
Listing Agency:
ComReal Miami - Coral Gables
(305) 710-5593
Listed By:
Edward Redlich · License #0480499
(305) 710-5593
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 6:23AM
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 ComReal Miami - Coral Gables
Investment Insights
Based on property information with market context.
This well-maintained corner unit offers a multi-functional space suitable for various commercial and industrial uses. The property is zoned for industrial and commercial use and includes 9 parking spaces. Located in a prime location, it provides easy access to I-75 and the Palmetto Expressway, and is close to Miami International Airport (MIA) and the Port of Miami, making it ideal for logistics, distribution, or manufacturing needs. The property features 1,800 square feet of space, designed to accommodate small to mid-size businesses. Approximately 70% of the space is dedicated to office use, providing a professional environment for administrative, sales, or managerial tasks. The remaining 30% is warehouse space suitable for storage, light manufacturing, or distribution. Ample parking is available for employees, clients, and delivery vehicles, making it suitable for a business that requires both office space and warehouse storage.
Key Highlights
- Prime location with easy access to I‑75, Palmetto Expressway, MIA, and Port of Miami.
- Zoned for industrial/commercial use.
- 9 parking spaces.
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
$39,593
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
8.00%
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%
$791,860
$791.9K
Cap Rate 7%
$565,614
$565.6K
Cap Rate 9%
$439,922
$439.9K
Market Conditions
NOI Build-Up for 1,800 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
$64.8K $36.00/SF
− Vacancy
−$3.9K −$2.16/SF
EGI
$60.9K $33.84/SF
− OpEx
−$21.3K −$11.84/SF
NOI
$39.6K $22.00/SF
Area
Miami-Dade County, FL
Vacancy
6.00%
Lease Rate
$36.00 /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%
$791,860
Cap Rate 7%
$565,614
Cap Rate 9%
$439,922
Alternative Uses
Best Use
Office B
$681.6K
$596.4K – $795.2K
NOI $47,709 @ 7.0% cap · market cap 9.64%
Second Best
Flex RnD
$565.6K
$494.9K – $659.9K
NOI $39,593 @ 7.0% cap · market cap 8.00%
Theoretical Best
Office A
$913.2K
$799.1K – $1.07M
NOI $63,925 @ 7.0% cap · market cap 12.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,219
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33018, FL
54,273
Population
17,871
Households
3
Avg Household Size
41
Median Age
29%
College-Educated
85%
High-School Grad
28.1 sq mi
ZIP Area
1,931
Density / Sq Mi
$90,805
Median Household Income
$42,911
Median Earnings
$2,066
Median Rent
$436,300
Median Home Value
Market
Vacancy Rate% for Office 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?
Flex space - Well-maintained warehouse with office space, ideal for logistics.
Where is this flex space located?
The property is located at 9180 NW 119th St 10 Hialeah Gardens, FL.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Prime location with easy access to I‑75, Palmetto Expressway, MIA, and Port of Miami.; Zoned for industrial/commercial use.; 9 parking spaces.
