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

    8566 61st St Miami, FL 33166-3309

    • Warehouses
    • 3,400 SF
    OFF-MARKET
    Last Sale
    Apr 19, 2024
    $1,300,000
    Value Estimations
    $1,300,000
    Show details
    Cap Rate Potential
    4.3%
    Warehouses
    Location Intelligence
    Property ID
    US18-2279393
    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

    • Green Dade Outdoor Corp / Lawn Mower Repair Service
    • Refinishing Supplies Export In / Hardware Store / Exporter

    Property Details for 8566 61st St

    Year built
    1999
    Property size
    3,400 SF
    Zone code
    7600:INTENSIVE USE
    Property type
    Warehouses
    APN
    30-3015-058-0050
    APU
    3030150580050

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,300,000
      ML approach
      $1,300,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $925,000
      6.5%
      $855,000
      7%
      $790,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,064,000
      Market price range: $675k - $1.20M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $945,000
      Current use
      RETAIL STORES
      $1,945,000
      Change: +106% Conversion: Moderate
      MEDICAL BUILDING
      $1,495,000
      Change: +58% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $965,000
      Change: +2% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.3368
    Latitude
    25.8282
    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
    $10,513
    $0.00
    $0.00
    $731,000
    -
    $0.00
    $0.00
    $731,000

    Comparable in this City

    • Value Estimation by Request

      7206 72Nd Ave

      Distribution properties
      7206 72Nd Ave, Miami, FL 33166
      View Details
    • Value Estimation by Request

      7955 77Th Ave

      Distribution properties
      7955 77Th Ave, Medley, FL 33166
      View Details
    • Value Estimation
      $1,545,000
      9,600 SF

      6961 42nd St

      WAREHOUSE, STORAGE • 9,600 SF
      6961 42nd St, Miami, FL 33166-6820
      View Details
    • Value Estimation
      $3,300,000
      23,329 SF

      6405 82nd Ave

      WAREHOUSE, STORAGE • 23,329 SF
      6405 82nd Ave, Medley, FL 33166-2735
      View Details
    • Value Estimation
      $4,815,000
      35,656 SF

      6969 84th Ave

      WAREHOUSE, STORAGE • 35,656 SF
      6969 84th Ave, Medley, FL 33166-2618
      View Details
    • Value Estimation
      $1,145,000
      10,060 SF

      6401 84th Ave, Unit 8371

      WAREHOUSE, STORAGE • 10,060 SF
      6401 84th Ave, Medley, FL 33166
      View Details

    Similar Nearby for Sale

    • $650,000

      Miami Warehouse: Prime Location

      1,470 SF Warehouse, Great Access
      7907 64Th St, Miami, FL 33166
      View Details
    • $1,200,000
      6,000 SF

      Doral Office Warehouse with Loading

      Office/warehouse space featuring offices, loading docks, and security.
      7754-7884 NW 46Th St, Doral, FL 33166
      View Details
    • Contact for pricing

      Warehouse Space with Office

      6,300 SF warehouse space available for sublease.
      8195 NW 71St St, Miami, FL 33166
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    • Contact for pricing

      Functional Warehouse Near Miami Airport

      124,884 SF warehouse near Miami Airport with ample loading docks.
      6725 NW 36Th St, Miami, FL 33166
      View Details
    • $2,250,000

      Doral Turnkey Industrial Warehouse Unit

      Turnkey warehouse in Doral with offices, racks, and loading.
      7953 NW 64Th St, Miami, FL 33166
      View Details
    • Contact for pricing

      Medley Warehouse with Outdoor Area

      10,000 SF warehouse with outdoor space in Medley, FL.
      7460 NW 82Nd St, Miami, FL 33166
      View Details

    Similar Nearby for Lease

    • $26 SF/Yr
      1,494 SF

      Doral Warehouse: 1494 sq ft For Lease

      Prime Doral location, single-tenant warehouse.
      8339 54Th St, Doral, FL 33166
      View Details
    • $16 SF/Yr
      20,817 SF

      Medley Industrial Space For Lease

      20,817 SF Manufacturing/Warehouse in Medley, FL
      7955 77 Ave, Medley, FL 33166
      View Details
    • $15 SF/Yr
      16,800 SF

      NW Miami Industrial Warehouse

      16,800 SF Warehouse, 0.69 Acres
      7300 41St St, Miami, FL 33166
      View Details
    • $25 SF/Yr
      1,600 SF

      70th Street Warehouse Space Available

      1600 sq ft warehouse, single tenant.
      7563 70Th St, Miami, FL 33166
      View Details
    • $0.08 SF/Yr
      3,532 SF

      Miami Warehouse: 3,532 SF

      Fully upgraded, air-conditioned warehouse in Doral.
      6942 50Th St, Miami, FL 33166
      View Details
    • Contact for pricing
      150,103 SF

      Doral Warehouse Space Available

      Divisible warehouse space with truck courts in Doral, Florida.
      7725 NW 41St St, Doral, FL 33166
      View Details
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    8566 61st St
    Miami, FL 33166-3309
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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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