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    4890 2nd Ln Hialeah, FL 33012-4363
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    Property profile & analytics

    4890 2nd Ln Hialeah, FL 33012-4363

    View on Map
    • Office buildings
    • 1,384 SF
    • 0.15 lot acres
    Off-Market
    Last Sale Sep 6, 2024
    $850,000
    Property ID
    US18-5466805
    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.
    Value Estimations
    $815,000
    Show details
    Cap Rate Potential
    3.9%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Hying Dumpster / General Contractor / Waste Management Facility
    • Pure Roofing / Roofing Company / General Contractor
    • Benessere Miami (Hialeah office) / Medical Clinic / Alternative Medicine Practice

    Property Details for 4890 2nd Ln

    Year built
    1953
    Construction
    CONCRETE
    Lot size
    0.15 lot acres
    Property size
    1,384 SF
    Zone code
    4800:PLANNED RESID OFFICE
    Property type
    Office buildings
    APN
    04-3106-062-0150
    APU
    431060620150

    Description

    This 1,375 square foot medical office building in Hialeah, Florida, is offered for sale at $975,000. Built in 1953 and situated on a lot with unspecified square footage, the property boasts five exam rooms, a break room, and a full bathroom. Recent renovations include new flooring, baseboards, paint, doors, and a washer and dryer. A significant upgrade was the installation of a 5-ton Trane AC unit in 2022. All updates adhere to Hialeah city codes, encompassing termite fumigation, electrical improvements, a new trash enclosure, landscaping enhancements, and an asphalt parking area with handicap accessibility. The property enjoys a highly advantageous location on a main road with a daily traffic count of 41,500 vehicles. Zoned RO-Planned Residential Office, the building is ideally suited for a wide range of professional services, including medical practices, legal offices, and various other business types operating within an office setting. This turnkey opportunity presents a ready-to-occupy space for immediate operation, eliminating the need for extensive renovations or upgrades. The property's prime location and recent improvements make it an attractive investment for those seeking a well-maintained and functional office space in a high-traffic area. The address is 4890 W 2nd Lane, Hialeah, FL 33012.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $730,000
      ML approach
      $835,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $603,000
      Market price range: $156k - $741k

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

    Location Insight

    • Map
    • Local Demand
    City
    Hialeah
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2882
    Latitude
    25.8665
    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
    $10,698
    $356,160
    $213,840
    $570,000
    -
    $356,160
    $213,840
    $570,000

    Comparable in this City

    • Value Estimation
      $640,000
      2,119 SF

      215 49th St

      PROFESSIONAL BUILDING • 2,119 SF
      215 49th St, Hialeah, FL 33012-3713
      View Details
    • Value Estimation
      $945,000
      3,031 SF

      315 49th St

      OFFICE BUILDING • 3,031 SF
      315 49th St, Hialeah, FL 33012-3715
      View Details
    • Value Estimation by Request
      144 SF

      900 49th St Ste, Unit 318

      OFFICE BUILDING (MULTI-STORY) • 144 SF
      900 49th St Ste, Hialeah, FL 33012-3435
      View Details
    • Value Estimation by Request
      463 SF

      900 49th St Ste, Unit 326

      OFFICE BUILDING (MULTI-STORY) • 463 SF
      900 49th St Ste, Hialeah, FL 33012-3435
      View Details
    • Value Estimation by Request
      431 SF

      900 49th St Ste, Unit 518

      OFFICE BUILDING (MULTI-STORY) • 431 SF
      900 49th St Ste, Hialeah, FL 33012-3488
      View Details
    • Value Estimation by Request
      185 SF

      900 49th St Ste, Unit 548

      OFFICE BUILDING (MULTI-STORY) • 185 SF
      900 49th St Ste, Hialeah, FL 33012-3442
      View Details

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    • Contact for pricing

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      Hialeah Office with Medical Use

      Office space in Hialeah, Florida with existing medical use.
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    Similar Nearby for Lease

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      Hialeah Medical/Professional Office Space

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      Centrally located office space suitable for medical or professional use.
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      View Details
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    Hialeah, FL 33012-4363
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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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