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    Property profile & analytics

    650 Palm Ave, Unit COMM1 Hialeah, FL 33010-4315

    • Retail space
    • 3,652 SF
    OFF-MARKET
    Last Sale
    Feb 08, 2021
    $1,000,000
    Value Estimations
    $980,000
    Show details
    Cap Rate Potential
    6.8%
    Retail space
    Location Intelligence
    Property ID
    US18-3328648
    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.

    Current Use by Public Records

    • 650 Palm hialeah 33010 / Apartment Complex
    • Liberty Mutual Car Insurance / Financial Advisor / Insurance Agency
    • Isla Bella Restaurant / Bar & Pub
    • Kai Tsu / Restaurant
    • Kai Tsu Deluxe Japanese Cuisine / Restaurant

    Property Details for 650 Palm Ave

    Year built
    2003
    Property size
    3,652 SF
    Zone code
    3900:MULTI-FAM,38-62 U/A
    Property type
    Retail space
    APN
    04-3118-049-0310
    APU
    431180490310

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $940,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,060,000
      6.5%
      $975,000
      7%
      $905,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $900,000
      Market price range: $714k - $1.33M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $985,000
      Current use
      MEDICAL BUILDING
      $1,605,000
      Change: +63% Conversion: Difficult
      OFFICE BUILDING
      $1,580,000
      Change: +60% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,320,000
      Change: +34% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,050,000
      Change: +6% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,025,000
      Change: +4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Hialeah
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.282
    Latitude
    25.8278
    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
    $10,227
    $0.00
    $0.00
    $730,400
    -
    $0.00
    $0.00
    $730,400

    Comparable in this City

    • Value Estimation by Request
      5,702 SF

      144 Hialeah Dr

      Individual retail properties • 5,702 SF
      144 Hialeah Dr, Hialeah, FL 33010
      View Details
    • Value Estimation by Request
      1,190 SF

      138 Hialeah Dr

      RETAIL STORES (PERSONAL SERVICES) • 1,190 SF
      138 Hialeah Dr, Hialeah, FL 33010-5250
      View Details
    • Value Estimation by Request
      2,131 SF

      344 Palm Ave, Unit D

      RETAIL STORES (PERSONAL SERVICES) • 2,131 SF
      344 Palm Ave, Hialeah, FL 33010-4716
      View Details
    • Value Estimation by Request
      2,503 SF

      350 Palm Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,503 SF
      350 Palm Ave, Hialeah, FL 33010-4716
      View Details
    • Value Estimation by Request
      437 SF

      1301 Palm Ave, Unit BAY2

      RETAIL STORES (PERSONAL SERVICES) • 437 SF
      1301 Palm Ave, Hialeah, FL 33010-3463
      View Details
    • Value Estimation by Request
      1,499 SF

      114 Hialeah Dr

      RETAIL STORES (PERSONAL SERVICES) • 1,499 SF
      114 Hialeah Dr, Hialeah, FL 33010-5250
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Turn Key Retail Showroom

      Retail space with showroom, high foot and auto traffic.
      140 Hialeah Dr, Hialeah, FL 33010
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    • $75,000

      Hialeah Beauty Salon For Sale

      Established full-service beauty salon for sale in Hialeah, Florida.
      Established Full-Service Beauty Salon For Sale In Hialeah, Hialeah, FL 33010
      View Details
    • $2,250,000
      3,370 SF

      Hialeah Retail/Office Space For Sale

      Two buildings totaling 3,835 SF on a 9,750 SF lot.
      2230 Palm Ave, Hialeah, FL 33010
      View Details
    • $1,900,000

      Hialeah Commercial Space For Sale

      Commercial space in Hialeah on a prime corner lot.
      2692 Palm Ave, Hialeah, FL 33010
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    • $3,475,000

      Hialeah Retail Strip Center

      Retail strip center on busy East 4th Avenue, Hialeah.
      1202 E 4Th Ave, Hialeah, FL 33010
      View Details
    • Contact for pricing

      Hialeah Retail/Office Space Available

      Centrally located retail or office space near Hialeah court.
      700 Palm Ave, Hialeah, FL 33010
      View Details

    Similar Nearby for Lease

    • $2,250 /Mo

      Hialeah Retail Space Available

      Versatile commercial space in East Hialeah, ideal for various businesses.
      330 W 9Th St, Hialeah, FL 33010
      View Details
    • Contact for pricing
      256,227 SF

      Hialeah Retail Plaza - Prime Location

      10,500 SF Available, High Traffic Area
      901 10Th Ave, Hialeah, FL 33010
      View Details
    • Contact for pricing
      6,750 SF

      Hialeah Retail Property: Prime Location

      6,750 SF Retail Space, C2 Zoning
      2093 Palm Ave, Hialeah, FL 33010
      View Details
    • $0.07 SF/Yr
      5,779 SF

      Hialeah Drive Retail Opportunity

      Prime Corner Lot Retail Space, 5,779 SF
      198 Hialeah Dr, Hialeah, FL 33010
      View Details
    • $50 SF/Yr
      480 SF

      Hialeah Retail Space For Lease

      Prime Hialeah location, 480 sq ft retail space.
      1368 Palm Ave, Hialeah, FL 33010
      View Details
    • Contact for pricing

      Hialeah Drive Mixed-Use Retail

      Retail space in mixed-use project with 304 apartments.
      401 Hialeah Dr, Hialeah, FL 33010
      View Details
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    Hialeah, FL 33010-4315
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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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