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    Property profile & analytics

    8682 Coral Way Miami, FL 33155-2338

    • Grocery and convenience stores
    • 2,478 SF
    • 3.21 lot acres
    OFF-MARKET
    Last Sale
    Jul 05, 2023
    Value Estimations
    $1,225,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-6271052
    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

    • Grocery and convenience stores

    Property Details for 8682 Coral Way

    Year built
    1985
    Construction
    CONCRETE
    Lot size
    3.21 lot acres
    Property size
    2,478 SF
    Zone code
    6400:COMMERCIAL,CENTRAL
    Property type
    Grocery and convenience stores
    APN
    30-4015-019-0010
    APU
    3040150190010

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,345,000
      6.5%
      $1,245,000
      7%
      $1,155,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,420,000
      Current use
      COMMERCIAL (GENERAL)
      $1,830,000
      Change: +29% Conversion: Easy
      OFFICE BUILDING
      $1,720,000
      Change: +21% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,620,000
      Change: +14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.3351
    Latitude
    25.7463
    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
    $151,959
    $5,317,188
    $3,578,812
    $8,896,000
    -
    $5,317,188
    $3,578,812
    $8,896,000

    Comparable in this City

    • Value Estimation
      $750,000
      6,820 SF

      8300 Bird Rd

      FINANCIAL BUILDING • 6,820 SF
      8300 Bird Rd, Miami, FL 33155-3337
      View Details
    • Value Estimation
      $510,000
      3,204 SF

      7400 Bird Rd

      FINANCIAL BUILDING • 3,204 SF
      7400 Bird Rd, Miami, FL 33155-6696
      View Details
    • Value Estimation
      $915,000
      2,612 SF

      3911 67th Ave

      FINANCIAL BUILDING • 2,612 SF
      3911 67th Ave, Miami, FL 33155-3710
      View Details
    • Value Estimation by Request

      Miami Ave

      Individual retail properties
      0 Miami Ave, Miami, FL 33155
      View Details
    • Value Estimation by Request
      3,655 SF

      8311 Bird Rd

      FINANCIAL BUILDING • 3,655 SF
      8311 Bird Rd, Miami, FL 33155-3311
      View Details
    • Value Estimation
      $970,000
      17,005 SF

      8585 Coral Way

      FINANCIAL BUILDING • 17,005 SF
      8585 Coral Way, Miami, FL 33155-2335
      View Details

    Similar Nearby for Sale

    • $2,400,000
      2,190 SF

      Free Standing Retail Building

      Retail building with high visibility and frontage on Bird Road.
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    • Contact for pricing

      Retail Space on Bird Road

      Retail property with frontage on Bird Road and ample parking.
      6562 Bird Rd, Miami, FL 33155
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    • $2,400,000

      Freestanding Retail Building on Bird Road

      2,190 SF retail building with high visibility and traffic.
      7254 Bird Rd, Miami, FL 33155
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    • $1,900,000

      Freestanding Retail Property For Sale

      Retail property with ample parking in prime Miami location.
      2228 Ludlam Rd, Miami, FL 33155
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,400 SF

      Retail Space in Strong Center

      Grocery-anchored neighborhood center in a densely populated market.
      9330-9360 Miller Dr, Miami, FL 33155
      View Details
    • $40 SF/Yr
      5,100 SF

      Retail Space with Open Layout

      Spacious retail space with high traffic and ample parking.
      6550-6578 Bird Rd, Miami, FL 33155
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    • $3,000 /Mo

      Renovated Retail Space on Bird Road

      Move-in ready retail space in a vibrant Miami location.
      8235 SW 40Th St, Miami, FL 33155
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    • Contact for pricing
      4,125 SF

      Retail Space Near Ludlam Trail

      Mixed-use retail space near Bird Road Art District.
      7004 Southwest 40Th Street Rd, Miami, FL 33155
      View Details
    • Contact for pricing

      Retail Space with High Visibility

      Renovated retail space with ample parking and high foot traffic.
      8672 Bird Rd, Miami, FL 33155
      View Details
    • Contact for pricing
      20,000 SF

      Doral Showroom and Warehouse Space

      20,000 SF showroom/warehouse with signage available for lease.
      8347-8369 NW 36Th St, Doral, FL 33155
      View Details
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    8682 Coral Way
    Miami, FL 33155-2338
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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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