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Property profile & analytics
OFF-MARKET
Estimated value
$585,000
Retail residential properties
424 22nd Ave Miami, FL 33135-3115
Entity Owned
5-yr Hold
Free & Clear
Property ID
US18-9370619
Property summary
AI-generated overview
This exceptional 33135 Miami, Florida property, located at 424 SW 22nd Ave in Miami-Dade County, presents a unique opportunity for multifamily development. Currently listed at $1,550,000, this special purpose land parcel offers significant potential for investors seeking a high-return project. Zoned T6-8O, the site allows for the construction of up to 27 residential units as of right, eliminating the need for lengthy and potentially costly zoning variances. Preliminary plans already exist for a five-story building encompassing 26 units, providing a solid foundation for immediate development or further refinement. The property's strategic location near Calle 8 in Miami offers excellent access to amenities, transportation, and a thriving community. The asking price reflects the land value, presenting a compelling investment opportunity for developers looking to capitalize on the strong Miami real estate market. The latitude and longitude coordinates are 25.7682459, -80.2310664 respectively. This is a rare chance to acquire a well-situated development site with clear potential for substantial returns.
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1939
Construction
CONCRETE
Total area
1,845 SF
Lot
0.18 ac (7,750 SF)
Zoning code
6100:COMMERCIAL,NEIGHBRHD
APN
01-4103-043-0270
UPID
US18-9370619
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Biscayne Bay Mansion Rentals and Boat Charters Boat Rental Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$745k
CAP Approach
CAP
$670k
Comparable Approach
Comparable
$451k
Blend (final)
Blend
$585k
Owner & transaction history
Allied Emerald LLC · 5 yrs held
Allied Emerald LLC
since 2020
Last sale
$461,250
5 recorded transactions
Zoning & alternative use
6100:COMMERCIAL,NEIGHBRHD · Miami, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Miami submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Miami submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$730,000
ML approach
$745,000
CAP Approach
CAP Return
Estimation
6%
$725,000
6.5%
$670,000
7%
$625,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$895,000
Current use
MEDICAL BUILDING
$810,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$585k
Range $527k – $644k · ±10% · vs last sale $461k (Dec 24 2020)
Last sale anchor
$461k
Dec 24 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$317 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$13,696
Tax year 2023
Assessed value
$736,038
Assessed 2023
Previous assessed
$755,473
-2.6% YoY
Effective rate
1.86%
On assessed value
Assessed land
$620,000
Assessed improvement
$116,038
Land market value
$620,000
Improvement market value
$116,038
Total market value
$736,038
Applied tax rate
100.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
1939
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Buildings
2
Stories
2
Total area
1,845 SF
Lot
0.18 ac (7,750 SF)
Zoning code
6100:COMMERCIAL,NEIGHBRHD
APN
01-4103-043-0270
UPID
US18-9370619
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6100:COMMERCIAL,NEIGHBRHD · Miami, FL
Zoning 6100:COMMERCIAL,NEIGHBRHD · permitted uses
6100:COMMERCIAL,NEIGHBRHD · Miami, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Miami. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$895,000
MEDICAL BUILDING
Est. value
$810,000
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1939
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Buildings
2
Lot
0.18 ac
Current owner
From public records · entity-resolved
Allied Emerald LLC
Entity
Free & Clear · 5 yrs held
Mailing address
10008 W FLAGLER ST #287, MIAMI, FL 33174-1828
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 16, 2024
—
Allied Emerald LLC
—
Deed
related
$200,000 · Francisco Suarez
Dec 24, 2020
$615,000
Allied Emerald LLC
Walter J Robson
Warranty Deed
—
Nov 3, 2020
—
Ellen Robson
John J Robson
Quit Claim Deed
related
—
Dec 21, 2006
—
Walter J Robson
Samole Myron M
Quit Claim Deed
related
—
May 19, 2006
—
Samole Myron M Tr
Robson,bertha J C
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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