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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    705 8th Ave Hialeah, FL 33010-4613

    • Office buildings
    • 3,876 SF
    • 0.18 lot acres
    OFF-MARKET
    Last Sale
    Nov 10, 2022
    $1,500,000
    Value Estimations
    $1,505,000
    Show details
    Cap Rate Potential
    5.8%
    Office buildings
    Location Intelligence
    Property ID
    US18-9111164
    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

    • Mercy Behavioral Center / Crisis Center / Medical Clinic
    • Flora Pazos, MS / Counselor
    • LOS AMIGOS MEDICAL CENTER CORP / Pediatrician / Physician

    Property Details for 705 8th Ave

    Year built
    2010
    Construction
    CONCRETE
    Lot size
    0.18 lot acres
    Property size
    3,876 SF
    Zone code
    4800:PLANNED RESID OFFICE
    Property type
    Office buildings
    APN
    04-3117-005-1810
    APU
    431170051810

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,365,000
      ML approach
      $1,535,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,330,000
      6.5%
      $1,230,000
      7%
      $1,140,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,625,000
      Market price range: $978k - $2.68M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,675,000
      Current use
      MEDICAL BUILDING
      $1,700,000
      Change: +2% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,405,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Hialeah
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2651
    Latitude
    25.8291
    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
    $13,809
    $270,375
    $465,327
    $735,702
    -
    $270,375
    $465,327
    $735,702

    Comparable in this City

    • Value Estimation
      $1,125,000
      4,593 SF

      380 21st St

      OFFICE BUILDING • 4,593 SF
      380 21st St, Hialeah, FL 33010-2519
      View Details
    • Value Estimation by Request
      1,275 SF

      2230 Palm Ave

      PROFESSIONAL BUILDING • 1,275 SF
      2230 Palm Ave, Hialeah, FL 33010-2217
      View Details
    • Value Estimation
      $520,000
      1,630 SF

      151 9th St

      OFFICE BUILDING • 1,630 SF
      151 9th St, Hialeah, FL 33010-4211
      View Details
    • Value Estimation
      $590,000
      1,382 SF

      260 Hialeah Dr

      OFFICE BUILDING • 1,382 SF
      260 Hialeah Dr, Hialeah, FL 33010-5219
      View Details
    • Value Estimation
      $565,000
      2,145 SF

      240 Hialeah Dr

      PROFESSIONAL BUILDING • 2,145 SF
      240 Hialeah Dr, Hialeah, FL 33010-5219
      View Details
    • Value Estimation
      $890,000
      4,018 SF

      491 Hialeah Dr

      OFFICE BUILDING (MULTI-STORY) • 4,018 SF
      491 Hialeah Dr, Hialeah, FL 33010-5336
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,175 SF

      Renovated Office-Flex Space in Hialeah

      Meticulously renovated office-flex space near Hialeah City Hall.
      25 E 4Th St, Hialeah, FL 33010
      View Details
    • $499,000

      Hialeah Office Building - $499K

      Prime Hialeah office, ideal for distribution.
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    • $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
    • 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
    • $2,200,000

      Hialeah Commercial Building For Sale

      One-story office/retail building in Hialeah, excellent owner/user opportunity.
      501-525 E 9Th St, Hialeah, FL 33010
      View Details
    • $5,700,000

      Hialeah Multi-Tenant Medical Office

      Multi-tenant medical office building in Hialeah with below market rents.
      1401 E 4Th Ave, Hialeah, FL 33010
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr

      Versatile Commercial Office Space Available

      2,100 SF office space in a well-maintained commercial building.
      166 Hialeah Dr, Hialeah, FL 33010
      View Details
    • $37 SF/Yr
      916 SF

      Hialeah Office Building - 916 sq ft

      Free-standing office, 4 parking spaces, prime location.
      448 9Th St, Hialeah, FL 33010
      View Details
    • $25 SF/Yr
      18,458 SF

      Modern Hialeah Warehouse and Office

      Newly renovated warehouse and office space with LEED certification.
      600-601 W 20Th St, 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
      256,227 SF

      Hialeah Retail Plaza - Prime Location

      10,500 SF Available, High Traffic Area
      901 10Th Ave, Hialeah, FL 33010
      View Details
    • $2,300 /Mo

      Remodeled Duplex with Modern Finishes

      Fully remodeled duplex featuring modern finishes and generous parking.
      27 NE 5Th Ave, Hialeah, FL 33010
      View Details
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    705 8th Ave
    Hialeah, FL 33010-4613
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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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