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    13629 7Th Ave North Miami, FL 33168

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    13629 7Th Ave North Miami, FL 33168

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    • Retail properties & Spaces
    • 20,280 SF
    • 0.83 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 13629 7Th Ave

    Year built
    1954
    Lot size
    0.83 lot acres
    Property size
    20,280 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Office properties & Spaces

    Description

    This exceptional Miami-Dade County property, located at 13629 Retail Shops on NW 7th Ave, offers 20,280 square feet of versatile commercial space. The single-story, 1954-built building underwent renovations in 2024 and sits on a 0.834-acre lot. Currently zoned C-1, it features eight suites, with a minimum divisible space of 910 square feet and a maximum contiguous space of 20,280 square feet. Currently, 910 square feet are vacant. The property's location on NW 7th Ave provides high visibility and excellent exposure to significant pedestrian and vehicular traffic. Its flexible layout is suitable for various uses, including executive office, traditional office, coworking, creative office, medical office, and retail. The property boasts ample signage opportunities and high ceilings, catering to diverse business needs. Easy access to major roadways and public transportation enhances its appeal. This Class B property presents a unique opportunity for businesses seeking a prominent location in a thriving commercial area within the Liberty City and North Miami Submarket. The property's APN is 06-2124-002-3220. There are no elevators. The cross street is Opa Locka Blvd.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    North Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2113
    Latitude
    25.8994

    Comparable in this City

    • Value Estimation by Request

      11954 7Th Ave

      Retail properties & Spaces
      11954 7Th Ave, North Miami, FL 33168
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    • Value Estimation
      $2,315,000
      12,874 SF

      11440 7th Ave

      MEDICAL BUILDING • 12,874 SF
      11440 7th Ave, Miami, FL 33168-2208
      View Details
    • Value Estimation
      $1,005,000
      6,187 SF

      11500 7th Ave

      MEDICAL BUILDING • 6,187 SF
      11500 7th Ave, Miami, FL 33168-2506
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    • Value Estimation by Request

      1132 119Th St

      Retail properties & Spaces
      1132 119Th St, Miami, FL 33168
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    • Value Estimation by Request

      151 St 7 Ave

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      151 St 7 Ave, Miami, FL 33168
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    • Value Estimation by Request
      1,236 SF

      1155 119th St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 1,236 SF
      1155 119th St, North Miami, FL 33168-6242
      View Details

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    North Miami, FL 33168
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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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