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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    11641 2nd Ave Miami, FL 33161-6103

    • Outlet malls
    • 8,211 SF
    • 0.66 lot acres
    OFF-MARKET
    Value Estimations
    $1,855,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2011330
    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.

    Current Use by Public Records

    • Braids / Hair Salon
    • L & G Salon / Hair Salon
    • Kay Braids / Hair Salon / Service Establishment

    Property Details for 11641 2nd Ave

    Year built
    1966
    Construction
    CONCRETE
    Lot size
    0.66 lot acres
    Property size
    8,211 SF
    Zone code
    6200:COMMERCIAL,ARTERIAL
    Property type
    Outlet malls
    APN
    30-2231-037-0010
    APU
    3022310370010

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,042,000
      Market price range: $1.55M - $3.03M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,145,000
      Current use
      OFFICE BUILDING
      $2,675,000
      Change: +25% Conversion: Easy
      WAREHOUSE, STORAGE
      $2,440,000
      Change: +14% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $2,335,000
      Change: +9% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1939
    Latitude
    25.882
    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
    $17,602
    $1,157,120
    $351,801
    $1,508,921
    -
    $1,157,120
    $351,801
    $1,508,921

    Comparable in this City

    • Value Estimation
      $835,000
      3,334 SF

      1300 125th St

      WHOLESALE OUTLET, DISCOUNT STORE • 3,334 SF
      1300 125th St, North Miami, FL 33161-5938
      View Details
    • Value Estimation
      $1,400,000
      15,056 SF

      1450 123rd St

      WHOLESALE OUTLET, DISCOUNT STORE • 15,056 SF
      1450 123rd St, North Miami, FL 33161-6083
      View Details
    • Value Estimation
      $3,560,000
      15,360 SF

      14500 Dixie Hwy

      WHOLESALE OUTLET, DISCOUNT STORE • 15,360 SF
      14500 Dixie Hwy, Miami, FL 33161-3031
      View Details
    • Value Estimation
      $2,040,000
      7,424 SF

      11099 Biscayne Blvd

      WHOLESALE OUTLET, DISCOUNT STORE • 7,424 SF
      11099 Biscayne Blvd, Miami, FL 33161-7478
      View Details
    • Value Estimation
      $1,365,000
      5,250 SF

      13033 Dixie Hwy

      WHOLESALE OUTLET, DISCOUNT STORE • 5,250 SF
      13033 Dixie Hwy, North Miami, FL 33161-4951
      View Details
    • Value Estimation by Request
      4,688 SF

      13886 Dixie Hwy

      WHOLESALE OUTLET, DISCOUNT STORE • 4,688 SF
      13886 Dixie Hwy, North Miami, FL 33161-3343
      View Details

    Similar Nearby for Sale

    • $2,000,000

      Fully Leased Retail Center

      Seven-unit retail center in North Miami with high visibility.
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      Freestanding building with drive-thru on high-traffic W Dixie Highway.
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      Auto Shop on Corner Lot

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      Miami Automotive Service Station For Sale

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      North Miami Mixed-Use Property

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      North Miami Drive-Thru Opportunity

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    Similar Nearby for Lease

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      4,000 SF

      North Miami Retail Space Available

      Retail space available in North Miami's business corridor.
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      2,916 SF

      Colonial Palms Plaza Retail Space

      Retail space available in high-traffic Miami location.
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      1,350 SF

      Retail Space in North Miami

      Retail space available for lease in North Miami, Florida.
      823 NE 125Th Ter, North Miami, FL 33161
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    • Contact for pricing
      800 SF

      North Miami Retail/Office Space

      Located in the heart of North Miami on busy 125th.
      927-955 NE 125Th Ter, North Miami, FL 33161
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      2,242 SF

      Retail Center on SR-922

      Retail center with high traffic frontage in North Miami.
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    • Contact for pricing
      3,950 SF

      Retail Space Sublease Opportunity

      Sublease opportunity in Palmetto Bay's Colonial Palms Plaza.
      13611-13621 S Dixie Hwy, Miami, FL 33161
      View Details
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    11641 2nd Ave
    Miami, FL 33161-6103
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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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