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    1015 NW 23Rd St Miami, FL 33127
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    1015 NW 23Rd St Miami, FL 33127

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    • Warehouses
    • 6,059 SF
    • 0.24 lot acres
    For Lease
    $33 SF/Yr
    View Listing →
    Industrial Warehouse Space Available For Lease
    $33 SF/Yr
    2,000 SF

    Industrial Warehouse Space Available

    2000 square feet of warehouse space for lease.

    1015 NW 23rd St, Miami, FL
    View Listing
    Property ID
    US18-2567330
    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.
    Value Estimations
    $2,855,000
    Cap Rate Potential
    3.2%
    Warehouses
    Location Intelligence

    Current Use by Public Records

    • 401EST / Vastu Consultant
    • La Cometa Gallery / Art Gallery
    • Art Films / Media Distribution
    • Michael Lang Complete Building / Construction Company
    • chief trike rentals / Car Rental Facility

    Property Details for 1015 NW 23Rd St

    Year built
    2009
    Lot size
    0.24 lot acres
    Property size
    6,059 SF
    Zone code
    7000:INDUSTRIAL,GENERAL
    Property type
    Warehouses
    APN
    01-3126-052-0300
    APU
    131260520300

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,085,000
      ML approach
      $3,125,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,939,000
      Market price range: $2.17M - $13.1M

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2115
    Latitude
    25.7993
    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
    $17,211
    $827,280
    $365,720
    $1,193,000
    -
    $827,280
    $365,720
    $1,193,000

    Comparable in this City

    • Value Estimation
      $2,805,000
      20,091 SF

      576 28th St

      WAREHOUSE, STORAGE • 20,091 SF
      576 28th St, Miami, FL 33127-4138
      View Details
    • Value Estimation
      $1,195,000
      6,016 SF

      142 29th St

      WAREHOUSE, STORAGE • 6,016 SF
      142 29th St, Miami, FL 33127-3930
      View Details
    • Value Estimation
      $2,300,000
      9,194 SF

      2181 10th Ave

      WAREHOUSE, STORAGE • 9,194 SF
      2181 10th Ave, Miami, FL 33127-4635
      View Details
    • Value Estimation
      $740,000
      4,975 SF

      2324 5th Ave

      WAREHOUSE, STORAGE • 4,975 SF
      2324 5th Ave, Miami, FL 33127-4310
      View Details
    • Value Estimation
      $8,280,000
      48,532 SF

      6100 6th Ave

      WAREHOUSE, STORAGE • 48,532 SF
      6100 6th Ave, Miami, FL 33127-1104
      View Details
    • Value Estimation
      $4,175,000
      17,387 SF

      2160 8th Ave

      WAREHOUSE, STORAGE • 17,387 SF
      2160 8th Ave, Miami, FL 33127-4638
      View Details

    Similar Nearby for Sale

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      0.33 Acres

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      Development site in the WOW District with income-producing units.
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    • $3,100,000
      0.33 Acres

      Miami Development Site For Sale

      Development site in the WOW District with income-producing units.
      2410 NW 7Th Ct, Miami, FL 33127
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    Similar Nearby for Lease

    • $0.20 SF/Yr
      4,136 SF

      Wynwood Warehouse: Prime Location

      Retail Warehouse, 4,136 sq ft, Wynwood
      239 26Th St, Miami, FL 33127
      View Details
    • $14 SF/Yr

      Allapattah Warehouse Spaces Available

      Warehouse spaces in Miami's Allapattah Industrial District for lease.
      829 NW 21St St, Miami, FL 33127
      View Details
    • $15 SF/Yr
      6,897 SF

      Allapattah Warehouse for Lease

      Last mile, open-span warehouse ideal for storage and distribution.
      2035 NW 7Th Ave, Miami, FL 33127
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    • $15 SF/Yr

      Allapattah Warehouse with Fenced Yard

      Warehouse space in Allapattah, Miami, with fenced yard.
      2065 NW 7Th Ave, Miami, FL 33127
      View Details
    • $33 SF/Yr
      2,000 SF

      Industrial Warehouse Space Available

      2000 square feet of warehouse space for lease.
      1015 NW 23Rd St, Miami, FL 33127
      View Details
    • Contact for pricing

      Allapattah Warehouse Space for Rent

      Warehouse space in Allapattah Arts District, suitable for various uses.
      676 NW 23Rd St, Miami, FL 33127
      View Details
    View Listing
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    Miami, FL 33127
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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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