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    620 W 29Th St Hialeah, FL 33012
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    620 W 29Th St, Hialeah, FL 33012

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    • Apartment buildings
    For Sale
    $1,695,000
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    Hialeah Apartment Complex For Sale For Sale
    $1,695,000

    Hialeah Apartment Complex For Sale

    Hialeah apartment complex built in 2020, fully leased.

    620 W 29th St, Hialeah, FL 33012
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    Property ID
    US18-4666948
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 620 W 29Th St

    Year built
    2020
    Property type
    Apartment buildings

    Description

    Located in the heart of Hialeah this beautiful apartment complex is an investors dream. Built in 2020 this apartment complex is all block construction, has hurricane impact windows and doors, and a new roof. The apartments are fully leased to excellent long term tenants that have been renting since the apartments were constructed. The units come with all modern appliances, A/C, and stacked washer and dryers. Located near wide range of activities including a public library, highly rated schools, Hialeah Park and Casino. On top of all the activities in the area it is within walking distance of many shops, drug stores and restaurants making it a prime location for tenants to want to live long term.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Hialeah
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.27002
    Latitude
    25.848505

    Comparable in this City

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      1,305 SF

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      Freestanding Medical Office Building

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      1974 W 60th St, Hialeah, FL 33012

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      Hialeah Business Opportunity For Sale

      Turnkey business opportunity in a high-demand Hialeah location.
      3645 W 16Th Ave, Hialeah, FL 33012
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    Similar Nearby for Sale

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      1,305 SF

      Hialeah Industrial Condo For Sale

      Industrial condo with 20' clear height and mezzanine.
      1670 W 39Th Pl, Hialeah, FL 33012
      View Details
    • Contact for pricing

      Freestanding Medical Office Building

      2006 SF medical office on West 49th Street corridor.
      99 W 49Th St, Hialeah, FL 33012
      View Details
    • Contact for pricing

      1974 W 60th St, Hialeah, FL 33012

      Retail space
      1974 W 60Th St, Hialeah, FL 33012
      View Details
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      Hialeah Business Opportunity For Sale

      Turnkey business opportunity in a high-demand Hialeah location.
      3645 W 16Th Ave, Hialeah, FL 33012
      View Details

    Similar Nearby for Lease

    • $1,609 /Mo

      Studio Apartment with Modern Amenities

      Comfortable studio with modern kitchens, pool, and fitness center.
      1950 W 49Th St, Hialeah, FL 33012
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      Hialeah Rental Unit Near Park

      Spacious, renovated 2-bedroom, 1-bath rental unit in Hialeah.
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      Studio Residence with Modern Amenities

      Comfortable studio with modern kitchens, balconies, and community amenities.
      1950 W 49Th St, Hialeah, FL 33012
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    • $2 SF/Yr
      17,816 SF

      Hialeah Office Space For Lease

      Large Office, Prime Hialeah Location
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      946 SF

      Hialeah Retail Power Center

      Retail space available in a well-located Hialeah power center.
      3520-3890 W 18Th Ave, Hialeah, FL 33012
      View Details
    View Listing
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    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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