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    Property profile & analytics

    20 40Th Pl Hialeah, FL 33012

    • Commercial real estate
    For Sale
    View listing
    $1,800,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4983863
    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

    • Commercial real estate

    Property Details for 20 40Th Pl

    Property type
    Commercial real estate

    Description

    This exceptional 1.8 million dollar commercial land opportunity in Hialeah, Florida, presents a unique investment prospect. Situated at 20 W 40th Pl, 33012, this prime location is just steps from the renowned Palm Avenue, offering unparalleled accessibility and visibility. The property, recently rezoned as R-3-3 (Multiple-Family District), has received approval for a substantial development project. Plans encompass a four-story building featuring twelve residential units, a dedicated commercial space ideal for a variety of businesses, and ample parking with twenty-six spaces. The inclusion of a terrace adds to the appeal and functionality of the building design. This development presents a significant opportunity to capitalize on the growing demand for residential and commercial properties in this vibrant area of Miami-Dade County. The approved plans provide a clear pathway to construction, minimizing pre-development hurdles and accelerating the return on investment. This is a rare chance to acquire a fully permitted and ready-to-build commercial land parcel in a high-demand location. The property's strategic location and approved development plans make it an attractive investment for both experienced developers and those seeking a high-yield opportunity. The approved building plans offer a detailed blueprint for a successful project, minimizing risk and maximizing potential returns. This is a turnkey opportunity to build a profitable mixed-use development in a thriving Florida market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Hialeah
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2832424
    Latitude
    25.8588217

    Comparable in this City

    • $750,000

      Land Investment Opportunity

      Clean, centrally located land with approved architectural project.
      20 W 40Th Pl, Hialeah, FL 33012
      View Details
    • $600,000
      0.25 Acres

      Hialeah Residential Lot Opportunity

      10,800 Sq. Ft. lot, permitted and ready to build.
      1140 W 32Nd St, Hialeah, FL 33012
      View Details
    • $550,000
      0.55 Acres

      Large Lot in Hialeah

      Over half-acre lot in Hialeah near landmarks.
      3895 W 2Nd Ave, Hialeah, FL 33012
      View Details
    • $199,974

      Nicoya Fusion Cafe For Sale

      Hialeah restaurant with a relaxed, low-key atmosphere.
      1426 W 49Th St, Hialeah, FL 33012
      View Details
    • $350,000
      2,900 SF

      Hialeah Restaurant Business Opportunity

      Turn-key restaurant with liquor license in prime Hialeah location.
      Chicken Grill Restaurant Opportunity In Prime Hialeah Location, Hialeah, FL 33012
      View Details
    • $3,800,000
      16,100 SF

      Hialeah Warehouse Investment

      High-yield warehouse, strong tenant, immediate income.
      1677 31St Pl, Hialeah, FL 33012
      View Details

    Similar Nearby for Sale

    • $750,000

      Land Investment Opportunity

      Clean, centrally located land with approved architectural project.
      20 W 40Th Pl, Hialeah, FL 33012
      View Details
    • $600,000
      0.25 Acres

      Hialeah Residential Lot Opportunity

      10,800 Sq. Ft. lot, permitted and ready to build.
      1140 W 32Nd St, Hialeah, FL 33012
      View Details
    • $550,000
      0.55 Acres

      Large Lot in Hialeah

      Over half-acre lot in Hialeah near landmarks.
      3895 W 2Nd Ave, Hialeah, FL 33012
      View Details
    • $199,974

      Nicoya Fusion Cafe For Sale

      Hialeah restaurant with a relaxed, low-key atmosphere.
      1426 W 49Th St, Hialeah, FL 33012
      View Details
    • $350,000
      2,900 SF

      Hialeah Restaurant Business Opportunity

      Turn-key restaurant with liquor license in prime Hialeah location.
      Chicken Grill Restaurant Opportunity In Prime Hialeah Location, Hialeah, FL 33012
      View Details
    • $3,800,000
      16,100 SF

      Hialeah Warehouse Investment

      High-yield warehouse, strong tenant, immediate income.
      1677 31St Pl, Hialeah, FL 33012
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      51,200 SF

      Hialeah Warehouse Space Available

      51,200 SF warehouse space for lease in Hialeah, Florida.
      3320 W 17Th Ct, Hialeah, FL 33012
      View Details
    • $17 SF/Yr
      3,800 SF

      Hialeah Retail Space - 3800 SF

      West Hialeah retail space, freshly renovated.
      1051 29Th St, Hialeah, FL 33012
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    • $2,950 /Mo

      Renovated Hialeah 3-Bedroom Apartment

      Renovated 3-bedroom, 2-bath apartment in Hialeah, available for rent.
      1674 W 42Nd St, Hialeah, FL 33012
      View Details
    • $2,500 /Mo

      Remodeled Apartment with Modern Amenities

      Spacious 2 bed, 2 bath apartment with in-unit laundry.
      1270 W 42Nd St, Hialeah, FL 33012
      View Details
    • $0.01 SF/Yr
      15,193 SF

      Hialeah Warehouse: 15,193 SF

      Prime Hialeah warehouse, excellent location.
      3000 16Th Ave, Hialeah, FL 33012
      View Details
    • Contact for pricing
      53,654 SF

      Hialeah Warehouse Space Available

      53,654 SF warehouse space for lease in Hialeah.
      5821 E 10Th Ave, Hialeah, FL 33012
      View Details
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    20 40Th Pl
    Hialeah, FL 33012
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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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