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    119th 56Th St Doral, FL 33178

    • Land
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 119th 56Th St

    Property type
    Land
    Property subtype
    Farms

    Description

    This exceptional 1.65-acre agricultural land parcel presents a unique investment opportunity in the desirable Doral, Florida area. Comprising two adjacent lots (Lot 22: 0.91 acres, Lot 23: 0.74 acres), totaling 71,873 square feet, this property offers significant potential. Strategically located just west of the Turnpike and north of 56th Street, the land boasts convenient access via the paved 58th Street access road. The lots enjoy a highly visible corner location at the intersection of NW 119th Avenue and NW 56th Street in Miami-Dade County, Florida, zip code 33178. The property's location within the thriving Doral community provides excellent potential for future development or continued agricultural use. Its size and strategic positioning make it an attractive proposition for investors seeking a foothold in the dynamic South Florida real estate market. The coordinates are 25.8242785 latitude and -80.3899233 longitude. This is vacant land ready for its next chapter. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Doral
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.3899
    Latitude
    25.8243

    Comparable in this City

    • Value Estimation by Request

      50 St & 52 St

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      119th 56Th St

      Farms
      119th 56Th St, Doral, FL 33178
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      16700 130Th St

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      16700 130Th St, Miami, FL 33178
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      4.51 Acres

      9100 97th Ter

      INDUSTRIAL - VACANT LAND • 4.51 Acres
      9100 97th Ter, Medley, FL 33178-1457
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    • Value Estimation by Request
      2.20 Acres

      10640 123rd St Rd

      INDUSTRIAL - VACANT LAND • 2.20 Acres
      10640 123rd St Rd, Medley, FL 33178-3229
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    • Value Estimation by Request
      1.48 Acres

      10633 123rd St Rd

      INDUSTRIAL - VACANT LAND • 1.48 Acres
      10633 123rd St Rd, Medley, FL 33178-3166
      View Details

    Similar Nearby for Sale

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      Doral Agricultural Land - Estate Sale

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      Unincorporated Dade Vacant Land

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      1.00 Acre

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      Doral Vacant Land Opportunity

      8.9 acres of prime vacant land in Doral.
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      Miami Agricultural Land For Sale

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      Medley Industrial Land For Sale

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    Similar Nearby for Lease

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      Medley Industrial Land for Sale

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      Medley Warehouse with Office Space

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      Doral Industrial Flex Space

      2,166 SF industrial flex space in Doral's warehouse district.
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      Doral Retail Space Available

      Retail space in Doral, suitable for various business types.
      10201 NW 58Th St, Miami, FL 33178
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      Warehouse Space in Beacon Station

      87,040 SF warehouse with 36 dock doors for lease.
      10050 NW 116Th Way, Medley, FL 33178
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    119th 56Th St
    Doral, FL 33178
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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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