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    18191 68Th Ave Hialeah, FL 33015

    • Office buildings
    • 24,975 SF
    • 2.27 lot acres
    For Lease
    View listing
    $2 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US19-0645771
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Bright Choice Funding / Financial Institution
    • Cost-Effective Health Insurance Policies for Your Individual Needs / Insurance Agency
    • S.K.I. Investigations, Inc. / Private Investigator
    • Water Damage Restoration Helpline / Water Damage Restoration Service
    • JANNETTE PINEIRO ATTORNEY AT LAW / Law Firm

    Property Details for 18191 68Th Ave

    Year built
    1979
    Construction
    CONCRETE
    Lot size
    2.27 lot acres
    Property size
    24,975 SF
    Zone code
    6800:COMM,PROFESS OFFICES
    Property type
    Office buildings
    APN
    30-2011-003-0040
    APU
    3020110030040

    Description

    This exceptional single-tenant office building, known as Plaza 68, presents a unique opportunity for businesses seeking a prestigious and convenient location in Hialeah, Florida. The property, located at 18191 NW 68th Ave, Miami, FL 33015, boasts a total of 24,975 square feet of office space spread across two stories within a single building. The zoning designation is 6800. The property features convenient access to major transportation arteries, situated just minutes from the NW 186 Street exit off I-75 and a half-mile north of the NW 67th Avenue exit from the Palmetto Expressway, minimizing commute times and traffic congestion. The building offers significant advantages including all utilities (water and electricity) included in the lease. Ample free parking is available on-site for employees and clients. Security is a top priority, with 24/7 access controlled by a code entry system and enhanced by comprehensive video monitoring. This turnkey solution provides a secure, efficient, and well-located workspace, ideal for a variety of businesses. The APN is 30-20-11-003-0040. This is a single-suite, two-story building.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,570,000
      6.5%
      $7,910,000
      7%
      $7,345,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,505,000
      Market price range: $4.77M - $8.26M
      AI Estimate
      $4,945,000
      Market price range: $4.17M - $8.26M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $7,265,000
      Current use
      AUTO REPAIR, GARAGE
      $9,045,000
      Change: +24% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $7,170,000
      Change: -1% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $7,000,000
      Change: -4% Conversion: Easy
      RETAIL STORES
      $6,775,000
      Change: -7% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hialeah
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.3114
    Latitude
    25.938
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $53,976
    $1,484,520
    $1,860,480
    $3,345,000
    -
    $1,484,520
    $1,860,480
    $3,345,000

    Comparable in this City

    • Value Estimation by Request
      953 SF

      17650 78th Ave Ste, Unit 103

      OFFICE BUILDING (MULTI-STORY) • 953 SF
      17650 78th Ave Ste, Hialeah, FL 33015-3661
      View Details
    • Value Estimation by Request
      953 SF

      17690 78th Ave Ste, Unit 104

      OFFICE BUILDING (MULTI-STORY) • 953 SF
      17690 78th Ave Ste, Hialeah, FL 33015-3669
      View Details
    • Value Estimation by Request
      859 SF

      17670 78th Ave Ste, Unit 104

      OFFICE BUILDING (MULTI-STORY) • 859 SF
      17670 78th Ave Ste, Hialeah, FL 33015-3665
      View Details
    • Value Estimation by Request
      953 SF

      17650 78th Ave Ste, Unit 104

      OFFICE BUILDING (MULTI-STORY) • 953 SF
      17650 78th Ave Ste, Hialeah, FL 33015-3661
      View Details
    • Value Estimation by Request
      980 SF

      17660 78th Ave Ste, Unit 105

      OFFICE BUILDING (MULTI-STORY) • 980 SF
      17660 78th Ave Ste, Hialeah, FL 33015-3663
      View Details
    • Value Estimation by Request
      859 SF

      17670 78th Ave Ste, Unit 112

      OFFICE BUILDING (MULTI-STORY) • 859 SF
      17670 78th Ave Ste, Hialeah, FL 33015-3665
      View Details

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      Prime Hialeah Office Space

      Executive Suite, 24,975 SF, Ample Parking
      18191 68Th Ave, Hialeah, FL 33015
      View Details
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    Hialeah, FL 33015
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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