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    5005 8th Ave Hialeah, FL 33013-1603
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    Property profile & analytics

    5005 8th Ave, Hialeah, FL 33013-1603

    View on Map
    • Office buildings
    • 1,918 SF
    • 0.29 lot acres
    Off-Market
    Last Sale Feb 22, 2024
    $1,325,000
    Property ID
    US18-1516008
    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
    $1,325,000
    Show details
    Cap Rate Potential
    3%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Versalles Tours and Services / Travel Agency

    Property Details for 5005 8th Ave

    Year built
    1953
    Construction
    CONCRETE
    Lot size
    0.29 lot acres
    Zone code
    4800:PLANNED RESID OFFICE
    Property type
    Office buildings
    APN
    04-2132-013-1880
    APU
    421320131880

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 22, 2024 $1,325,000 Aquinos Property LLC Fdv Investments LLC Warranty Deed —
    Jan 13, 2022 $750,000 Fdv Investments LLC 5005 Le Jeune LLC Warranty Deed $375k · Jenny Callicott
    Mar 24, 2015 — 5005 Le Jeune LLC Patino Richard Warranty Deed —
    Dec 15, 2000 $150,000 Richard Patino Mclellan,william E & James L Grant Deed $143k · Addison Mortgage Group INC
    — — Patino,richard — Deed Of Trust · related $141k · E Trade Mortgage Corp

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,325,000
      ML approach
      $1,325,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $855,000
      Market price range: $484k - $1.32M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $830,000
      Current use
      MEDICAL BUILDING
      $840,000
      Change: +2% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Hialeah
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2666
    Latitude
    25.8689
    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
    $11,240
    $441,000
    $157,862
    $598,862
    -
    $441,000
    $157,862
    $598,862

    Comparable in this City

    • Value Estimation
      $1,605,000
      5,164 SF

      4051 8th Ave

      PROFESSIONAL BUILDING
      4051 8th Ave, Hialeah, FL 33013-2841
      View Details
    • Value Estimation
      $2,125,000
      10,710 SF

      551 49th St

      OFFICE BUILDING (MULTI-STORY)
      551 49th St, Hialeah, FL 33013-1904
      View Details
    • Value Estimation
      $765,000
      2,609 SF

      161 33rd St

      OFFICE BUILDING
      161 33rd St, Hialeah, FL 33013-3216
      View Details
    • Value Estimation by Request
      1,204 SF

      4915 Palm Ct

      PROFESSIONAL BUILDING
      4915 Palm Ct, Hialeah, FL 33013
      View Details
    • Value Estimation
      $590,000
      2,022 SF

      729 49th St

      OFFICE BUILDING
      729 49th St, Hialeah, FL 33013-1965
      View Details
    • Value Estimation by Request
      1,000 SF

      4190 4th Ave

      PROFESSIONAL BUILDING
      4190 4th Ave, Hialeah, FL 33013-2304
      View Details

    Similar Nearby for Sale

    • $310,000

      Hialeah Medical Office Opportunity

      Renovated medical office near Hialeah Hospital with established business.
      600 E 25Th St, Hialeah, FL 33013
      View Details
    • $1,500,000
      0.19 Acres

      Hialeah Corner Lot Development Site

      Corner lot suitable for development or clinic in Hialeah.
      3521 E 4Th Ave, Hialeah, FL 33013
      View Details
    • $1,500,000

      Corner Lot Development Opportunity

      Ideal corner lot for development or clinic in Hialeah.
      3521 E 4Th Ave, Hialeah, FL 33013
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Efficiently Designed Office Space Available

      Well-partitioned office space suitable for various professional services.
      110 E 49Th St, Hialeah, FL 33013
      View Details
    • Contact for pricing

      Hialeah Warehouse with Office Space

      Warehouse with small front office, close to transit.
      1079 E 24Th St, Hialeah, FL 33013
      View Details
    • Contact for pricing

      Hialeah Flex Space with Warehouse

      Flexible commercial property with warehouse space and recent renovations.
      4733 E 10Th Ln, Hialeah, FL 33013
      View Details
    • Contact for pricing

      Hialeah Corner Property for Rent

      Hialeah corner property with offices, workshop, and parking.
      4010 E 8Th Ave, Hialeah, FL 33013
      View Details
    • $28 SF/Yr
      1,195 SF

      Prime 49th Street Office Space

      Efficient 1,195 SF Office, 8 Parking Spots
      110 49Th St, Hialeah, FL 33013
      View Details
    • $5 SF/Yr
      6,738 SF

      Prime 25th Street Office Space

      Single-tenant office, ample parking, great light.
      600 25Th St, Hialeah, FL 33013
      View Details
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    Hialeah, FL 33013-1603
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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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