Corner Flex Space with
For Sale
$495,000
9180 NW 119th St # 10, Hialeah Gardens, FL 33018
Street-level corner unit combines office buildout with warehouse area and industrial/commercial zoning for adaptable business use.
Property Size1,800 SF
Price / SF$275
Days on Market490
Property Features for 9180 NW 119th St # 10
General Information
Standard status
Active
Size
1,800 SF
Total Parking Spaces
9
Property subtype
Industrial
Additional Details
Floor
Street Level
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,960
Building Details
Building Size
1,800 SF
Year Built
2002
Listing Agency:
ComReal Miami - Doral, LLC.
(305) 815-3376
Listed By:
Patricia Quintana · License #0480499
Source:
Marcelosteinmander
Added: Apr 10, 2025
Changed: Aug 11
Last Checked: Aug 11 at 6:55AM
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 - Doral, LLC.
Investment Insights
Based on property information with market context.
This 1,800-square-foot flex space is configured with approximately 70% office area and 30% warehouse area, creating a practical combination of administrative space and storage or operational space. The street-level corner unit includes 9 parking spaces and was built in 2002. The existing office improvements may be removed to expand the warehouse portion.
The property is in Hialeah Gardens with access to I-75 and the Palmetto Expressway. Miami International Airport and the Port of Miami are also identified as nearby transportation connections. Industrial/commercial zoning supports the property’s stated warehouse, distribution, and light manufacturing use potential.
The property is in Hialeah Gardens with access to I-75 and the Palmetto Expressway. Miami International Airport and the Port of Miami are also identified as nearby transportation connections. Industrial/commercial zoning supports the property’s stated warehouse, distribution, and light manufacturing use potential.
Key Highlights
- 1,800 SF flex space with approximately 70% office and 30% warehouse configuration
- Street‑level corner unit with 9 parking spaces
- Industrial/commercial zoning
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
Lease Details
Yes
Highway access
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 - Street-level corner unit combines office buildout with warehouse area and industrial/commercial zoning for adaptable business use.
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: 1,800 SF flex space with approximately 70% office and 30% warehouse configuration; Street‑level corner unit with 9 parking spaces; Industrial/commercial zoning
