New search
Property profile & analytics
OFF-MARKET
Estimated value
$10,730,000
Commercial land
11950 Bayshore Dr, North Miami, FL 33181-2945
Entity Owned
4-yr Hold
Property ID
US19-0875933
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1964
Construction
CONCRETE
Total area
23,609 SF
Lot
0.79 ac (34,275 SF)
Zoning code
3800:MULTI-FAM,22-37 U/A
APN
06-2228-011-4490
UPID
US19-0875933
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
-
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.32M
CAP Approach
CAP
$8.58M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.73M
Owner & transaction history
Alta Bayshore LLC · 4 yrs held
Alta Bayshore LLC
since 2022
Last sale
$14.0M
7 recorded transactions
Zoning & alternative use
3800:MULTI-FAM,22-37 U/A · North Miami, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$17.5M
+0.3%
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 North Miami submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North 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
$10,495,000
ML approach
$8,320,000
CAP Approach
CAP Return
Estimation
6%
$9,295,000
6.5%
$8,580,000
7%
$7,970,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$17,455,000
Current use
RESTAURANT
$17,510,000
Change: +0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$15,435,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$10.73M
Range $9.66M – $11.80M · ±10% · vs last sale $14.00M (Feb 28 2022)
Last sale anchor
$14.00M
Feb 28 2022
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
$454 / 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
$171,696
Tax year 2023
Assessed value
$7,711,875
Assessed 2023
Previous assessed
$3,340,000
+130.9% YoY
Effective rate
2.23%
On assessed value
Assessed land
$7,711,875
Land market value
$7,711,875
Total market value
$7,711,875
Applied tax rate
600.0000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1964
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Bathrooms
27
Total area
23,609 SF
Lot
0.79 ac (34,275 SF)
Zoning code
3800:MULTI-FAM,22-37 U/A
APN
06-2228-011-4490
UPID
US19-0875933
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
3800:MULTI-FAM,22-37 U/A · North Miami, FL
Zoning 3800:MULTI-FAM,22-37 U/A · permitted uses
3800:MULTI-FAM,22-37 U/A · North Miami, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Miami. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$17.5M
RESTAURANT
Est. value
$17.5M
AUTO REPAIR, GARAGE
Est. value
$15.4M
COMMERCIAL (GENERAL) Current
RESTAURANT
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
1964
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Bathrooms
27
Lot
0.79 ac
Current owner
From public records · entity-resolved
Alta Bayshore LLC
Entity
Mailing address
2950 SW 27TH AVE STE #220, MIAMI, FL 33133-3793
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 18, 2022
—
Alta Bayshore LLC
—
Deed
related
$7,000,000 · Professional Bank
Feb 28, 2022
$14,000,000
Alta Bayshore LLC
Mid Bay Miami LLC
Special Warranty Deed
—
Sep 20, 2017
—
Mid Bay Miami LLC
—
Deed
related
$2,600,000 · Arbor Agcy Lndg LLC
Jan 24, 2017
—
Mid Bay Miami LLC
—
Deed
related
$2,053,376 · Interamerican Bk
Mar 12, 2012
—
Mid Bay Miami LLC
—
Deed Of Trust
related
$1,000,000 · Brycor Holdings LLC
Apr 7, 2011
$1,500,000
Mid Bay Miami LLC
Mid Bay Properties LLC
Warranty Deed
$1,000,000 · Brycor Holdings LLC
May 21, 2003
$2,400,000
Mid Bay Properties LLC
Miller,wesley D
Grant Deed
$1,650,000 · Deutsche Banc Mortgage Capital
—
—
Mid Bay Miami LLC
—
Deed Of Trust
related
$2,800,000 · Interamerican Bk
—
—
Mid Bay Miami LLC
—
Loan Modification
related
$2,053,376 · Interamerican Bk
—
—
Mid Bay Miami LLC
—
Deed Of Trust
related
$2,600,000 · Arbor Agcy Lndg LLC
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 11950 Bayshore Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
