Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    121 1st St Miami, FL 33131-1413

    • Hotels
    • 68,989 SF
    • 0.17 lot acres
    OFF-MARKET
    Last Sale
    Jun 30, 2020
    Value Estimations
    $450,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1561403
    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

    • Eurostars Langford / Hotel
    • Mira Miami Inc / Watch Store
    • Mass Creation Events Rooftop / Bar
    • Pompei / Italian Restaurant
    • Estación Central - Central Station / Lunch Restaurant / Mediterranean Restaurant

    Property Details for 121 1st St

    Year built
    1925
    Construction
    CONCRETE
    Lot size
    0.17 lot acres
    Property size
    68,989 SF
    Zone code
    6401:COMMERCIAL
    Property type
    Hotels
    APN
    01-0112-010-1160
    APU
    101120101160

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $450,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1914
    Latitude
    25.7736
    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
    $285,922
    $5,040,000
    $8,560,000
    $13,600,000
    -
    $5,040,000
    $8,560,000
    $13,600,000

    Comparable in this City

    • Value Estimation
      $895,000
      643,192 SF

      255 Biscayne Blvd Way

      HOTEL • 643,192 SF
      255 Biscayne Blvd Way, Miami, FL 33131-3025
      View Details
    • Value Estimation
      $820,000
      395,543 SF

      1109 Brickell Ave

      HOTEL • 395,543 SF
      1109 Brickell Ave, Miami, FL 33131-3101
      View Details
    • Value Estimation
      $730,000
      527,824 SF

      500 Brickell Key Dr

      HOTEL • 527,824 SF
      500 Brickell Key Dr, Miami, FL 33131-2605
      View Details
    • Value Estimation by Request
      212,503 SF

      1395 Brickell Ave, Unit 3

      HOTEL/MOTEL • 212,503 SF
      1395 Brickell Ave, Miami, FL 33131-3353
      View Details
    • Value Estimation by Request
      536,070 SF

      788 Brickell Plz

      HOTEL/MOTEL • 536,070 SF
      788 Brickell Plz, Miami, FL 33131-3521
      View Details
    • Value Estimation by Request
      465,000 SF

      100 Chopin Plz

      HOTEL/MOTEL • 465,000 SF
      100 Chopin Plz, Miami, FL 33131-4342
      View Details

    Similar Nearby for Sale

    • $975,000
      1,621 SF

      Brickell Office Space: Prime Location

      1,621 SF Office, Miami, FL, $975,000
      1000 Brickell Ave, Miami, FL 33131
      View Details
    • Contact for pricing

      Professional Office Condo at Brickell

      Ground-floor office condo with modern build-out and assigned parking.
      1155 Brickell Bay Dr, Miami, FL 33131
      View Details
    • $1,100,000

      Brickell Avenue Office Investment

      Corner office space with tenant in place until 2026.
      1000 Brickell Ave, Miami, FL 33131
      View Details
    • $1,325,000
      250,000 SF

      Brickell Office Space Available

      Office space for sale in the heart of Brickell.
      1200 Brickell Ave, Miami, FL 33131
      View Details
    • $10,000,000

      Waterfront Restaurant/Retail Opportunity on Brickell

      8,253 SqFt commercial condo for sale or lease.
      801 Brickell Bay Dr, Miami, FL 33131
      View Details
    • $975,000

      Commercial Space in Four Ambassadors

      Rare commercial space with tenant in the heart of Brickell.
      825 Brickell Bay Dr, Miami, FL 33131
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      15,332 SF

      Brickell Key Office Suites

      Prestigious waterfront office space in Miami.
      601 Brickell Key Dr, Miami, FL 33131
      View Details
    • Contact for pricing
      250,000 SF

      Brickell Avenue Premier Office Space

      Stunning 6,396 sq ft, Bay Views
      1200 Brickell Ave, Miami, FL 33131
      View Details
    • $22 SF/Yr
      16,870 SF

      Brickell Ave Executive Suites

      Premium Miami office space, flexible options.
      1221 Brickell Ave, Miami, FL 33131
      View Details
    • Contact for pricing

      Downtown Miami Office Suite

      Prime Furnished Office, Move-In Ready
      150 2Nd Ave, Miami, FL 33131
      View Details
    • $3,350 /Mo

      Double Height Condo in Brickell

      Spectacular furnished apartment in the heart of Brickell.
      950 Brickell Bay Dr, Miami, FL 33131
      View Details
    • $36 SF/Yr
      3,504 SF

      Downtown Miami Retail/Restaurant Space

      Retail and restaurant spaces available in Downtown Miami.
      169 E Flagler St, Miami, FL 33131
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    121 1st St
    Miami, FL 33131-1413
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.