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Property profile & analytics
OFF-MARKET
Estimated value
$635,000
Outlet malls
1109 2nd Ave Miami, FL 33136-2713
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-2835840
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1940
Construction
CONCRETE
Total area
1,836 SF
Lot
0.09 ac (3,750 SF)
Zoning code
6100:COMMERCIAL,NEIGHBRHD
APN
01-3137-031-0130
UPID
US18-2835840
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
-
Lelia's Grocery Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$635k
Owner & transaction history
1109 Nw 2nd Avenue LLC · 2 yrs held
1109 Nw 2nd Avenue LLC
since 2023
Last sale
$10,000
4 recorded transactions
Zoning & alternative use
6100:COMMERCIAL,NEIGHBRHD · Miami, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Miami submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Miami 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,050,000
Current use
Blend value · Realmo final
$635k
Range $572k – $699k · ±10% · vs last sale $10k (Sep 6 2023)
Last sale anchor
$10k
Sep 6 2023
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
$346 / 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
$9,688
Tax year 2023
Assessed value
$471,305
Assessed 2023
Previous assessed
$340,145
+38.6% YoY
Effective rate
2.06%
On assessed value
Assessed land
$412,500
Assessed improvement
$58,805
Land market value
$412,500
Improvement market value
$58,805
Total market value
$471,305
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1940
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
1,836 SF
Lot
0.09 ac (3,750 SF)
Zoning code
6100:COMMERCIAL,NEIGHBRHD
APN
01-3137-031-0130
UPID
US18-2835840
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6100:COMMERCIAL,NEIGHBRHD · Miami, FL
Zoning 6100:COMMERCIAL,NEIGHBRHD · permitted uses
6100:COMMERCIAL,NEIGHBRHD · Miami, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Miami. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.1M
RETAIL STORES 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
1940
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.09 ac
Current owner
From public records · entity-resolved
1109 Nw 2nd Avenue LLC
Entity
Free & Clear · 2 yrs held
Mailing address
1039 NW 3RD AVE, MIAMI, FL 33136-3307
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 6, 2023
$10,000
1109 Nw 2nd Avenue LLC
Joann Rucker
Warranty Deed
—
Nov 17, 2022
$600,000
Joann Rucker
Miami Investments & Holdings INC
Warranty Deed
—
Jul 7, 2014
—
Miami Invs & Holdings INC
Carlos Invs INC Of Dade Cnty
Quit Claim Deed
related
—
Mar 11, 1998
$37,000
Carlos Investments INC
Clyde Killens Trustee
Grant Deed
$36,000 · Seller
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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