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Property profile & analytics
OFF-MARKET
Estimated value
$3,000,000
Drive through restaurants
11720 2nd Ave Miami, FL 33161-6106
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US18-1544468
Property summary
AI-generated overview
This exceptional Miami Shores property, located at 11720-11740 NE 2nd Ave, offers a unique blend of immediate income and significant long-term development potential. Currently housing the established Mama Jennie's Italian Restaurant, the 40,329 square foot site includes a 3,859 square foot restaurant building with a fully permitted kitchen and bar, plus a 628 square foot office/storage structure. The property boasts approximately 25 surface parking spaces and benefits from high visibility, with an estimated 7,200 daily drivers passing by. Its location adjacent to Barry University and Miami Country Day School provides excellent access to a substantial population base. Zoned BU-1, the site presents a compelling opportunity under Miami-Dade County's Live Local Act, potentially supporting up to 250 residential units per acre for workforce housing, along with ground-floor retail. This presents a strong value-add opportunity for an operator or developer seeking a prime location in a thriving Miami neighborhood. The asking price is $3,750,000, translating to $92.99 per square foot. Seller financing is available.
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1956
Construction
CONCRETE
Total area
3,996 SF
Lot
0.43 ac (18,766 SF)
Zoning code
6400:COMMERCIAL,CENTRAL
APN
30-2136-025-0830
UPID
US18-1544468
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
-
Exceptional Caterers Take-out & Catering Catering Service
-
Expert Wildlife Trappers Miami LLC Animal Shelter Pet Adoption Service
-
ATM Atm
-
Cornman 305 Signature Grill Restaurant Take-out & Catering
-
ARE N BEE LLC - Miami's All R&B Party Music Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.00M
Owner & transaction history
Mate Ventures LLC · 1 yrs held
Mate Ventures LLC
since 2024
Last sale
$3.0M
4 recorded transactions
Zoning & alternative use
6400:COMMERCIAL,CENTRAL · 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
$3,000,000
ML approach
$3,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$2,965,000
Current use
COMMERCIAL (GENERAL)
$2,955,000
Change: 0% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,615,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$3.00M
Range $2.70M – $3.30M · ±10% · vs last sale $3.00M (Dec 31 2024)
Last sale anchor
$3.00M
Dec 31 2024
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
$751 / 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
$11,470
Tax year 2023
Assessed value
$770,815
Assessed 2023
Previous assessed
$545,831
+41.2% YoY
Effective rate
1.49%
On assessed value
Assessed land
$562,980
Assessed improvement
$207,835
Land market value
$562,980
Improvement market value
$207,835
Total market value
$770,815
Applied tax rate
3,000.0000
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
1956
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
3,996 SF
Lot
0.43 ac (18,766 SF)
Zoning code
6400:COMMERCIAL,CENTRAL
APN
30-2136-025-0830
UPID
US18-1544468
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6400:COMMERCIAL,CENTRAL · Miami, FL
Zoning 6400:COMMERCIAL,CENTRAL · permitted uses
6400:COMMERCIAL,CENTRAL · 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
RESTAURANT Current
Est. value
$3.0M
COMMERCIAL (GENERAL)
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$2.6M
RESTAURANT Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1956
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.43 ac
Current owner
From public records · entity-resolved
Mate Ventures LLC
Entity
Mailing address
11720 NE 2ND AVE, MIAMI, FL 33161-6106
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
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
Dec 31, 2024
$3,000,000
Mate Ventures LLC
Mamas Realty INC
Warranty Deed
$1,531,055 · Seacoast National Bank
Sep 19, 2017
—
Mamas Realty INC
—
Deed
related
$600,000 · Michael S Pomerantz
—
—
Mamas Realty INC
—
Deed Of Trust
related
$750,000 · Washington Mutual Fsb
—
—
Mamas Realty INC
—
Deed Of Trust
related
$600,000 · Michael S Pomerantz
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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