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Property profile & analytics
OFF-MARKET
Estimated value
$4,305,000
Outlet malls
5870 8th St West Miami, FL 33144-5052
Entity Owned
26-yr Hold
Free & Clear
Property ID
US18-1535652
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1985
Construction
CONCRETE
Total area
16,189 SF
Lot
0.93 ac (40,420 SF)
Zoning code
6200:COMMERCIAL,ARTERIAL
APN
15-4012-014-0120
UPID
US18-1535652
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.31M
Owner & transaction history
Opera Corp · 26 yrs held
Opera Corp
since 2000
1 recorded transaction
Zoning & alternative use
6200:COMMERCIAL,ARTERIAL · West Miami, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$7.1M
+34.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs West Miami submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West Miami submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$5,295,000
Current use
MEDICAL BUILDING
$7,110,000
Change: +34% · Conversion: Difficult
WAREHOUSE, STORAGE
$4,815,000
Change: -9% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,600,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$4.31M
Range $3.87M – $4.74M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$266 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$70,272
Tax year 2023
Assessed value
$4,691,021
Assessed 2023
Previous assessed
$2,850,000
+64.6% YoY
Effective rate
1.50%
On assessed value
Assessed land
$3,637,800
Assessed improvement
$1,053,221
Land market value
$3,637,800
Improvement market value
$1,053,221
Total market value
$4,691,021
Applied tax rate
1,500.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1985
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
16,189 SF
Lot
0.93 ac (40,420 SF)
Zoning code
6200:COMMERCIAL,ARTERIAL
APN
15-4012-014-0120
UPID
US18-1535652
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6200:COMMERCIAL,ARTERIAL · West Miami, FL
Zoning 6200:COMMERCIAL,ARTERIAL · permitted uses
6200:COMMERCIAL,ARTERIAL · West Miami, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Miami. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$5.3M
MEDICAL BUILDING
Est. value
$7.1M
WAREHOUSE, STORAGE
Est. value
$4.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.6M
RETAIL STORES Current
MEDICAL BUILDING
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1985
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.93 ac
Current owner
From public records · entity-resolved
Opera Corp
Entity
Free & Clear · 26 yrs held
Mailing address
10770 NW 66TH ST APT #211, DORAL, FL 33178-3780
Ownership since
2000
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 27, 2000
$1,335,000
Opera Corp
Naroca Enterprises INC
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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