Hialeah Retail Development
For Sale
$1,700,000
2230 Palm Ave, Hialeah, FL 33010
High-traffic location near Hialeah Market Station with development potential.
Property Size3,835 SF
Price / SF$443.29
Days on Market137
Property Features for 2230 Palm Ave
General Information
Standard status
Active
Size
3,835 SF
Building Details
Year Built
1951
Listing Agency:
The Keyes Company
Listed By:
David Gonzalez · License #3350494
(305) 747-8171
Source:
Chenoregroup
Added: May 18
Changed: Sep 24
Last Checked: Oct 1 at 2:10PM
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 The Keyes Company
Investment Insights
Based on property information with market context.
Located on the high-traffic Palm Avenue corridor in Hialeah, near the Hialeah Market Station, this property offers proximity to the Airport East Industrial sub-market and Leah Arts District entertainment corridor. The site presents strong transit-oriented development potential. The property consists of 3,835 square feet across two buildings and is zoned C-2, offering strategic infill development opportunity with TOD/NBD/LLA potential. The property can be sold together or separately.
Key Highlights
- High‑traffic location on Palm Avenue near Hialeah Market Station
- Strong transit‑oriented development (TOD) potential
- Strategic infill development opportunity
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
$66,683
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
3.92%
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%
$1,333,660
$1.3M
Cap Rate 7%
$952,614
$952.6K
Cap Rate 9%
$740,922
$740.9K
Market Conditions
NOI Build-Up for 3,835 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
$103.5K $27.00/SF
− Vacancy
−$8.3K −$2.16/SF
EGI
$95.3K $24.84/SF
− OpEx
−$28.6K −$7.45/SF
NOI
$66.7K $17.39/SF
Area
Hialeah, FL
Vacancy
8.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,333,660
Cap Rate 7%
$952,614
Cap Rate 9%
$740,922
Alternative Uses
Best Use
Retail
$952.6K
$833.5K – $1.11M
NOI $66,683 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,662 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,750
Businesses Nearby
35k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Shell
Shops & Services
11,931 visits/mo
0.5 miles
Chevron
Shops & Services
11,155 visits/mo
0.5 miles
Sunoco
Shops & Services
7,138 visits/mo
0.4 miles
Advance Auto Parts
Shops & Services
4,561 visits/mo
0.2 miles
Demographics for 33010, FL
43,902
Population
16,456
Households
2.7
Avg Household Size
48
Median Age
20%
College-Educated
71%
High-School Grad
4.3 sq mi
ZIP Area
10,210
Density / Sq Mi
$45,449
Median Household Income
$30,466
Median Earnings
$1,318
Median Rent
$346,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - High-traffic location near Hialeah Market Station with development potential.
Where is this retail space located?
The property is located at 2230 Palm Ave Hialeah, FL.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: High‑traffic location on Palm Avenue near Hialeah Market Station; Strong transit‑oriented development (TOD) potential; Strategic infill development opportunity
