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    10370 178 St West Perrine, FL 33157
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    10370 178 St West Perrine, FL 33157

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    • Commercial real estate
    Off-Market
    Property ID
    US19-0632520
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 10370 178 St

    Property type
    Commercial real estate

    Description

    This exceptional 1.7-acre parcel located at 10370 SW 178th St, Miami, FL 33157, presents a prime development opportunity in the thriving West Perrine neighborhood of Miami-Dade County. Currently zoned and approved for the construction of eleven townhomes, each featuring four bedrooms, three bathrooms, a two-car carport, and approximately 2300 square feet of living space. The shovel-ready status of this land allows for immediate commencement of construction, minimizing delays and maximizing return on investment. This location offers unparalleled convenience and accessibility to a wide array of amenities, including schools, parks, shopping centers, and major transportation routes. The high demand for quality housing in West Perrine ensures a strong potential for resale of the completed townhomes as individual units or as a portfolio of income-producing rental properties. Furthermore, this opportunity zone designation provides a significant tax advantage for the developer. Seller financing is available, making this an even more attractive proposition for qualified buyers. Don't miss this rare chance to capitalize on the burgeoning West Perrine real estate market. This property is priced at $1,599,999.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    West Perrine
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.360471
    Latitude
    25.6036695

    Comparable in this City

    • $2,380,000
      0.33 Acres

      Multifamily Development Opportunity in Palmetto Bay

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    • $599,900
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      Development Opportunity with Income Potential

      Residential property with development potential in a high-demand area.
      10250 SW 177Th St, Miami, FL 33157
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    • $3,500,000
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      New Construction Apartment Building

      New 10-unit apartment building with high-end finishes and ample parking.
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      13,000 SF

      West Perrine Multifamily Investment Opportunity

      16-unit multifamily property in Miami with strong income potential.
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      935 SF

      Miami Condo in 55+ Community

      One-bedroom condo with resort-style amenities in Miami, Florida.
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    • $1,250,000
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      Income-Producing Fourplex with Updated Systems

      Centrally located fourplex with new A/C units and updated electric.
      10015 SW 170Th Ter, Miami, FL 33157
      View Details

    Similar Nearby for Sale

    • $2,380,000
      0.33 Acres

      Multifamily Development Opportunity in Palmetto Bay

      Development opportunity for a 51-unit multifamily project in Miami.
      10060 SW 176Th St, Palmetto Bay, FL 33157
      View Details
    • $599,900
      0.27 Acres

      Development Opportunity with Income Potential

      Residential property with development potential in a high-demand area.
      10250 SW 177Th St, Miami, FL 33157
      View Details
    • $3,500,000
      14,508 SF

      New Construction Apartment Building

      New 10-unit apartment building with high-end finishes and ample parking.
      16955 SW 100Th Ave, Miami, FL 33157
      View Details
    • Contact for pricing
      13,000 SF

      West Perrine Multifamily Investment Opportunity

      16-unit multifamily property in Miami with strong income potential.
      10270 SW 181St St, Miami, FL 33157
      View Details
    • Contact for pricing
      935 SF

      Miami Condo in 55+ Community

      One-bedroom condo with resort-style amenities in Miami, Florida.
      16805 SW 113Th Ave, Miami, FL 33157
      View Details
    • $1,250,000
      2,664 SF

      Income-Producing Fourplex with Updated Systems

      Centrally located fourplex with new A/C units and updated electric.
      10015 SW 170Th Ter, Miami, FL 33157
      View Details

    Similar Nearby for Lease

    • $1.00 SF/Yr

      Vacant Land For Lease

      28,000 square feet of vacant land available for lease.
      28 000 Sq, Palmetto Bay, FL 33157
      View Details
    • $0.26 SF/Yr
      2,176 SF

      Palmetto Bay Office Space For Lease

      Prime Office, 2176 sq ft, US-1 Frontage
      17225 Dixie Hwy, Palmetto Bay, FL 33157
      View Details
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    10370 178 St
    West Perrine, FL 33157
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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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