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    Property profile & analytics

    700 Palm Ave, Unit 704 Hialeah, FL 33010

    • Outlet malls
    • 8,295 SF
    • 0.46 lot acres
    For Sale
    View listing
    $2,500
    Last Sale
    Aug 09, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1508999
    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

    • Angie Bakery / Bakery / Specialty Food Shop
    • Capuchino Bakery / Cafe & Coffee Shop / Bar & Pub

    Property Details for 700 Palm Ave

    Year built
    1953
    Construction
    CONCRETE
    Lot size
    0.46 lot acres
    Property size
    8,295 SF
    Zone code
    6100:COMMERCIAL,NEIGHBRHD
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    04-3118-001-3611
    APU
    431180013611

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $907,000
      Market price range: $365k - $1.35M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,240,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $2,380,000
      Change: +6% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $2,325,000
      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
    -80.2818
    Latitude
    25.8284
    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
    $38,214
    $911,250
    $1,124,750
    $2,036,000
    -
    $911,250
    $1,124,750
    $2,036,000

    Comparable in this City

    • Value Estimation
      $1,370,000
      9,667 SF

      68 9th St

      WHOLESALE OUTLET, DISCOUNT STORE • 9,667 SF
      68 9th St, Hialeah, FL 33010-4013
      View Details
    • Value Estimation
      $1,725,000
      9,929 SF

      356 Palm Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 9,929 SF
      356 Palm Ave, Hialeah, FL 33010-4716
      View Details
    • Value Estimation
      $620,000
      2,579 SF

      805 10th Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 2,579 SF
      805 10th Ave, Hialeah, FL 33010-4645
      View Details
    • Value Estimation
      $795,000
      4,536 SF

      1625 Palm Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 4,536 SF
      1625 Palm Ave, Hialeah, FL 33010-3074
      View Details
    • Value Estimation
      $825,000
      4,946 SF

      560 4th Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 4,946 SF
      560 4th Ave, Hialeah, FL 33010-4806
      View Details
    • Value Estimation
      $1,645,000
      9,938 SF

      90 5th St

      WHOLESALE OUTLET, DISCOUNT STORE • 9,938 SF
      90 5th St, Hialeah, FL 33010-4842
      View Details

    Similar Nearby for Sale

    • $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
    • $2,900,000

      Hialeah Retail Strip Center

      Retail strip center in downtown Hialeah with parking.
      400 Palm Ave, Hialeah, FL 33010
      View Details
    • $80,000

      Established Restaurant Business in Hialeah

      Turnkey Latin restaurant with high traffic location and proven sales.
      153 W 21St St, Hialeah, FL 33010
      View Details
    • $400,000

      Hialeah Restaurant & Bar for Sale

      Prime Hialeah location, high traffic area.
      1561 Okeechobee Rd, Hialeah, FL 33010
      View Details
    • Contact for pricing

      Turn Key Retail Showroom

      Retail space with showroom, high foot and auto traffic.
      140 Hialeah Dr, Hialeah, FL 33010
      View Details
    • $150,000

      Hialeah Warehouse: $150K Investment

      Prime Hialeah warehouse, move-in ready.
      0 10Th Ave, Hialeah, FL 33010
      View Details

    Similar Nearby for Lease

    • 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
    • Contact for pricing

      Restaurant Building with Drive Thru

      Restaurant building with drive-thru on a 6,750 sq.ft. lot.
      2093 Palm Ave, 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
    • Contact for pricing

      Hialeah Restaurant/Retail Corner Lot

      Restaurant/Retail space on a corner lot near Hialeah Park.
      2093 Palm Ave, 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
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    Hialeah, FL 33010
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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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