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    1677 31St Pl Hialeah, FL 33012

    For Sale
    $3,800,000

    High-yield warehouse, strong tenant, immediate income.

    Property size:
    16,100 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This Hialeah, Florida warehouse presents a compelling investment opportunity. Located at 1677 W 31st Pl, 33012, this 16,100 square foot Class C industrial property boasts a 100% occupancy rate with a credit-rated single tenant operating for over 20 years. The property features three grade-level doors and one dock-high door, with an 18-foot ceiling height. Built in 1965 and renovated five years ago, the building sits on a 30,000 square foot lot. The current net lease is NNN, with a rent of $10 per square foot, increasing to $12 per square foot in December. The lease, with two options, expires January 1, 2024, providing immediate income and future growth potential. The property recently passed its 40-year recertification. The current Net Operating Income (NOI) is $161,000, representing a 4.24% cap rate at the asking price of $3,800,000 ($236.02 per square foot). The property is strategically located near the 826 highway, offering excellent accessibility. The property can be delivered vacant. This is a rare opportunity to acquire a stable, high-performing industrial asset with significant upside potential.

    Property Features for 1677 31St Pl

    General Information

    Property type
    Distribution properties
    Square Feet
    16,100 SF
    Class
    C

    Building Details

    Year Built/Renovated
    1965/5
    Stories
    1

    HighLights

    • Rent increases to $12,000 NNN December 1, 2022.
    • Current rent is $10,000 NNN.
    • Long‑term tenant (20+ years in business).
    • Features three grade‑level doors and one dock‑high door.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dt Woodcrafters Corporation Construction

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hialeah
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.3161749
    Latitude
    25.8507154

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    FAQs

    What type of property is this?
    Distribution property - High-yield warehouse, strong tenant, immediate income.
    Where is this distribution property located?
    The property is located at 1677 31St Pl Hialeah, FL.
    What is the asking price?
    The asking price for this property is $3,800,000.
    What are key features of this property?
    This property features: Rent increases to $12,000 NNN December 1, 2022.; Current rent is $10,000 NNN.; Long-term tenant (20+ years in business).
    Request Owner's contact information
    1677 31St Pl Hialeah, FL 33012
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    Hialeah, FL 33012
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1677 31St Pl Hialeah, FL 33012
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