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    Property profile & analytics

    1700 68Th St Hialeah, FL 33014

    • Community centers
    • 69,423 SF
    • 5.03 lot acres
    For Lease
    View listing
    Last Sale
    Aug 15, 2022
    $23,500,000
    Value Estimations
    $21,960,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3514096
    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

    • University Health Care - Hialeah / Medical Clinic
    • Lorelei Perez-Freiria / Physician
    • Dr. Antonio M. Gordon Jr / Physician
    • Dr. Lesner Martinez Morales / Dental Office
    • Christian Milanes / Dental Office

    Property Details for 1700 68Th St

    Year built
    1982
    Construction
    CONCRETE
    Lot size
    5.03 lot acres
    Property size
    69,423 SF
    Zone code
    6600:COMMERCIAL,LIBERAL
    Property type
    Community centers
    APN
    04-2035-084-0010
    APU
    420350840010

    Description

    This exceptional sublease opportunity presents a fully furnished private office suite ideally situated within a bustling Hialeah shopping center. Located at 1700 W 68th St #B, Hialeah, FL 33014, this space is perfect for a single-tenant professional business. The office boasts an executive desk and three chairs, providing immediate functionality. All utilities and high-speed Wi-Fi are included, eliminating the hassle of setting up essential services. Shared amenities contribute to a convenient and professional work environment, including access to a well-equipped conference room, a fully functional kitchen, and a clean bathroom. Ample parking is readily available for clients and employees. Recently remodeled, this office is move-in ready and presents a modern, professional aesthetic. The zoning designation is 6600. The property's APN is 04-20-35-084-0010. This space is particularly well-suited for businesses such as insurance agencies, accounting firms, tax preparation services, or any other professional practice seeking a convenient and established location in a high-traffic area. The suite is located within a larger real estate office, offering potential for synergistic business relationships.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $29,635,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $23,245,000
      6.5%
      $21,455,000
      7%
      $19,920,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $19,378,000
      Market price range: $11.2M - $32.2M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $19,925,000
      Current use
      MEDICAL BUILDING
      $30,490,000
      Change: +53% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $25,135,000
      Change: +26% Conversion: Difficult
      OFFICE BUILDING
      $21,455,000
      Change: +8% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $19,465,000
      Change: -2% Conversion: Easy
      RETAIL STORES
      $18,840,000
      Change: -5% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Hialeah
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.3182
    Latitude
    25.8835
    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
    $216,193
    $7,673,365
    $4,826,635
    $12,500,000
    -
    $7,673,365
    $4,826,635
    $12,500,000

    Comparable in this City

    • Value Estimation
      $900,000
      11,348 SF

      6101 Miami Lks E Dr

      MINI-MALL • 11,348 SF
      6101 Miami Lks E Dr, Miami Lakes, FL 33014-2407
      View Details
    • Value Estimation
      $17,855,000
      57,465 SF

      1800 68th St

      MINI-MALL • 57,465 SF
      1800 68th St, Hialeah, FL 33014-4404
      View Details
    • Value Estimation
      $1,305,000
      4,165 SF

      16100 57th Ave

      MINI-MALL • 4,165 SF
      16100 57th Ave, Miami Lakes, FL 33014-6715
      View Details
    • Value Estimation
      $3,610,000
      11,039 SF

      7301 Miami Lks Dr

      MINI-MALL • 11,039 SF
      7301 Miami Lks Dr, Miami Lakes, FL 33014-6903
      View Details
    • Value Estimation
      $5,600,000
      25,636 SF

      1550 84th St

      MINI-MALL • 25,636 SF
      1550 84th St, Hialeah, FL 33014-3377
      View Details
    • Value Estimation
      $1,840,000
      11,130 SF

      6905 4th Ave

      MINI-MALL • 11,130 SF
      6905 4th Ave, Hialeah, FL 33014-5339
      View Details

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    Hialeah, FL 33014
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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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