Property profile

491 Okeechobee Rd Hialeah, FL 33010

OFF-MARKET
Retail residential properties
Property ID
US18-3010056
6,252 SF 0.31 ac lot Built 1947
Entity Owned 1-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional mixed-use building, located at 491 E Okeechobee Rd in Hialeah, Florida, presents a lucrative investment opportunity. Built in 1947, the property boasts a prime corner location offering high visibility and significant street frontage, ideal for attracting customers and tenants. The asking price is $1,999,999. The building features a solid structure with ample parking both in front and in the rear, providing convenient access for residents and patrons. A gated and fenced side and rear yard enhances security and privacy. The property's income-producing residential units upstairs offer stable rental income, while the downstairs commercial space presents versatile options. The east end corner unit is well-suited for a cafeteria or restaurant, while additional commercial spaces are available for lease. This property is perfect for an owner-operator seeking to combine residential rental income with their own business, or for an investor looking for a strong return on investment. The building's location in Miami-Dade County, with its high traffic volume, ensures excellent exposure for any commercial venture. This is a rare opportunity to acquire a well-maintained, income-generating property in a thriving area. The property's combination of residential and commercial space offers flexibility and potential for significant growth. Don't miss this chance to own a piece of Hialeah's vibrant commercial landscape.

Property profile

Verified
Property type Retail residential properties
Use group STORES & APARTMENTS
Year built 1947
Construction CONCRETE
Total area 6,252 SF
Lot 0.31 ac (13,297 SF)
Zoning code 6600:COMMERCIAL,LIBERAL
APN 04-3120-005-1320
UPID US18-3010056

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Landscaping General Contractor
  • Law Firm
  • Importer

Location

491 Okeechobee Rd Hialeah, FL 33010-5350
Hialeah metro Census 1608 MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$1.41M
CAP Approach CAP
$1.32M
Comparable Approach Comparable
$1.46M
Blend (final) Blend
$1.30M

Owner & transaction history

since 2024
Last sale
$1.8M
5 recorded transactions
2024
$1.8M
2021
$1.2M
2016
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

6600:COMMERCIAL,LIBERAL · Hialeah, FL
Top alternative use upside
Auto repair, garage $2.3M +29.2%
Neighborhood: shopping center $1.8M +2.4%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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