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Property profile & analytics
FOR LEASE
Office buildings
2937 SW 27Th Ave Coconut Grove, FL 33143
Entity Owned
1-yr Hold
Free & Clear
Property ID
US18-3174576
For Lease
1 / 12
$39 SF/Yr
2937 SW 27Th Ave, Coconut Grove, FL 33143
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Property summary
AI-generated overview
Grove Forest Plaza, a four-story, 50,000-square-foot Class B office building in Miami, FL (33133), offers multiple suites ranging from 1,312 to 3,356 contiguous square feet, with a total of 4,668 square feet currently vacant. This modern building boasts a glass exterior and features recently renovated common area restrooms, updated AC cooling towers, a digital lobby directory, and security cameras. Tenants enjoy tenant-controlled, landlord-maintained air conditioning, reserved covered parking in the building garage, and access to building storage space. Free visitor parking is also available in the garage. The building is professionally managed with on-site maintenance. Located on 27th Avenue, just south of US-1, it's within walking distance of the Coconut Grove MetroRail Station and offers convenient access to restaurants, shopping, and hotels. The building is ideally suited for legal, accounting, and financial firms, offering beautiful professional offices with spectacular views.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1909
Construction
CONCRETE
Total area
2,830 SF
Lot
0.66 ac (28,560 SF)
Zoning code
6101
APN
01-4115-031-0020
UPID
US18-3174576
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
-
Eric Cohen PA Law Firm
-
John Hancock Life Insurance Co Insurance Agency
-
GROVE HEALTH INSURANCE Insurance Agency
-
Vakita Enterprises, Inc. Grocery & Convenience Store
-
Bonefish & Tarpon Trust Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.33M
Comparable Approach
Comparable
$1.92M
Blend (final)
Blend
$1.95M
Owner & transaction history
Urbana 404 LLC · 1 yrs held
Urbana 404 LLC
since 2025
6 recorded transactions
Zoning & alternative use
6101 · Miami, FL
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 Coconut Grove submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Coconut Grove 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,445,000
6.5%
$1,330,000
7%
$1,235,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,480,000
Current use
Blend value · Realmo final
$1.95M
Range $1.75M – $2.14M · ±10%
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
$687 / 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
$171,624
Tax year 2023
Assessed value
$9,350,000
Assessed 2023
Previous assessed
$7,650,000
+22.2% YoY
Effective rate
1.84%
On assessed value
Assessed land
$2,284,800
Assessed improvement
$7,065,200
Land market value
$2,284,800
Improvement market value
$7,065,200
Total market value
$9,350,000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
1909
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Buildings
2
Stories
2
Total area
2,830 SF
Lot
0.66 ac (28,560 SF)
Zoning code
6101
APN
01-4115-031-0020
UPID
US18-3174576
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6101 · Miami, FLZoning 6101 · permitted uses
6101 · Miami, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Planning and Zoning
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.5M
OFFICE BUILDING Current
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
1909
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Buildings
2
Lot
0.66 ac
Current owner
From public records · entity-resolved
Urbana 404 LLC
Entity
Free & Clear · 1 yrs held
Mailing address
12840 N BAYSHORE DR, NORTH MIAMI, FL 33181-2427
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 22, 2025
—
Urbana 404 LLC
Victor Jose Arriaga Navarro
Quitclaim Deed
related
—
Jul 17, 2025
$1,250,000
Martha Delgado Franco
Oscar A Linares
Warranty Deed
$937,500 · United Wholesale Mortgage
Aug 31, 2016
—
Grobro Investments LLC
—
Deed
related
$1,465,849 · Wells Fargo Bk
Feb 2, 1998
$3,942,500
Grobro Investments LLC
Grove Forest Lc
Grant Deed
$3,100,000 · Southtrust Bank NA
—
—
Grobro Investments LLC
—
Deed Of Trust
related
$70,705 · Ge Capital Assurance Co
—
—
Grobro Investments LLC
—
Loan Modification
related
$1,465,849 · Wells Fargo Bk
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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