Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8875 23rd St Doral, FL 33172-2419

    • Office buildings
    • 12,570 SF
    • 1.00 lot acres
    OFF-MARKET
    Last Sale
    Mar 27, 2024
    $7,250,000
    Value Estimations
    $6,920,000
    Show details
    Cap Rate Potential
    5.3%
    Office buildings
    Location Intelligence
    Property ID
    US18-7724103
    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

    • Office buildings

    Property Details for 8875 23rd St

    Year built
    1985
    Construction
    CONCRETE
    Lot size
    1.00 lot acres
    Property size
    12,570 SF
    Zone code
    7600:INTENSIVE USE
    Property type
    Office buildings
    APN
    35-3033-007-0130
    APU
    3530330070130

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,250,000
      ML approach
      $7,250,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,410,000
      6.5%
      $5,920,000
      7%
      $5,495,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $5,135,000
      Current use
      RESTAURANT
      $9,320,000
      Change: +81% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $9,295,000
      Change: +81% Conversion: Easy
      AUTO REPAIR, GARAGE
      $8,220,000
      Change: +60% Conversion: Difficult
      RETAIL STORES
      $7,215,000
      Change: +40% Conversion: Moderate
      MEDICAL BUILDING
      $5,520,000
      Change: +7% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Doral
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.3404
    Latitude
    25.7955
    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
    $42,490
    $1,530,900
    $919,100
    $2,450,000
    -
    $1,530,900
    $919,100
    $2,450,000

    Comparable in this City

    • Value Estimation
      $535,000
      1,118 SF

      10805 23rd St

      OFFICE BUILDING • 1,118 SF
      10805 23rd St, Sweetwater, FL 33172-2029
      View Details
    • Value Estimation by Request
      3,750 SF

      10560 27th Stg101

      OFFICE BUILDING (MULTI-STORY) • 3,750 SF
      10560 27th Stg101, Doral, FL 33172-5928
      View Details
    • Value Estimation by Request
      710 SF

      10540 26th St Ste G201

      OFFICE BUILDING (MULTI-STORY) • 710 SF
      10540 26th St Ste G201, Doral, FL 33172-5933
      View Details
    • Value Estimation by Request
      634 SF

      10540 26th St Ste G305

      OFFICE BUILDING (MULTI-STORY) • 634 SF
      10540 26th St Ste G305, Doral, FL 33172-5934
      View Details
    • Value Estimation by Request
      359 SF

      10540 26th St Ste G106

      OFFICE BUILDING (MULTI-STORY) • 359 SF
      10540 26th St Ste G106, Doral, FL 33172-2162
      View Details
    • Value Estimation by Request
      1,010 SF

      10556 26th St Ste D203

      OFFICE BUILDING (MULTI-STORY) • 1,010 SF
      10556 26th St Ste D203, Doral, FL 33172-5931
      View Details

    Similar Nearby for Sale

    • $9,796,000

      Doral Free-Standing Office Building

      Two-story Doral building suitable for owner use or investment.
      2550 NW 100Th Ave, Miami, FL 33172
      View Details
    • $10,990,000
      19,712 SF

      Doral Office Building For Sale

      Class A Office, 19,712 SF, Doral, FL
      2550 100 Ave, Doral, FL 33172
      View Details
    • $530,000
      770 SF

      Sweetwater Office Space - Modern & New

      770 sq ft Office, Prime Location, Balcony
      Sweetwater, FL 33172
      View Details
    • $2,630,000

      Doral Office and Warehouse Space

      Two-story office and warehouse in Doral with flexible layout.
      2201 NW 102Nd Pl, Doral, FL 33172
      View Details
    • Contact for pricing

      Doral Office Space Available

      Versatile office space in Doral, with easy highway access.
      10855 NW 29Th St, Doral, FL 33172
      View Details
    • Contact for pricing

      Doral Office Space Available

      Versatile office space in Doral, with prime accessibility.
      10849 NW 29Th St, Doral, FL 33172
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,173 SF

      Class A Office Space Available

      Class A office building designed for business continuity.
      11410 NW 20Th St, Miami, FL 33172
      View Details
    • $0.16 SF/Yr
      2,784 SF

      NW 107th Ave Office Space

      Fully remodeled office; 2,784 sq ft, all-inclusive rent.
      730 107 Ave, Doral, FL 33172
      View Details
    • $28 SF/Yr
      3,200 SF

      Sweetwater Office Space for Lease

      Prime Sweetwater Office, Warehouse & Retail
      11251 20Th St, Miami, FL 33172
      View Details
    • $36 SF/Yr
      2,163 SF

      Doral Flex Space: Prime Location

      2,196 SF Office, 9 Parking Spaces
      8726 26Th St, Doral, FL 33172
      View Details
    • $0.11 SF/Yr
      714,820 SF

      Doral Office Space: 714,820 SF

      Brand new Doral office, single tenant, fully-amenitized.
      790 107Th Ave, Miami, FL 33172
      View Details
    • $20 SF/Yr
      2,400 SF

      Modern Office Space, NW Miami

      2400 sq ft, Single Tenant, Remodeled
      1470 107Th Ave, Miami, FL 33172
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    8875 23rd St
    Doral, FL 33172-2419
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.