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    121 SW 22Nd Ave Miami, FL 33135
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    Property profile & analytics

    121 SW 22Nd Ave, Miami, FL 33135

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    • Grocery and convenience stores
    • 84,926 SF
    • 2.16 lot acres
    For Lease
    $17,055,000
    View Listing →
    Retail Space in Little Havana For Lease
    $17,055,000
    37,737 SF

    Retail Space in Little Havana

    Retail space available in a Publix-anchored shopping center.

    121 SW 22nd Ave, Miami, FL
    View Listing
    Property ID
    US19-0008670
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Western Union / Bank / Credit Union
    • City National Bank - Presto ATM / Bank / Loan Service
    • Presto! ATM at Publix Super Market / Atm
    • Miami Rehab Services / Medical Clinic
    • Publix Super Market at Altos Plaza / Bakery / Specialty Food Shop

    Property Details for 121 SW 22Nd Ave

    Year built
    2013
    Construction
    CONCRETE
    Lot size
    2.16 lot acres
    Zone code
    6100:COMMERCIAL,NEIGHBRHD
    Property type
    Grocery and convenience stores
    APN
    01-4103-014-2320
    APU
    141030142320

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 11, 2009 $1,000,000 Pr Altos Miami LLC Altos Plaza Residential LLC Trustees Deed · related —
    Dec 27, 2005 $264,600 Altos Plaza Residential LLC Mehech,luis F Quit Claim Deed · related —
    Dec 27, 2005 $29,400 Altos Plaza Commercial Lllp Mehech,luis F Warranty Deed —
    Dec 27, 2005 — Altos Plaza Commercial Lllp Mehech,luis F Quit Claim Deed · related —
    Nov 6, 2002 $110,000 Luis F Mehech 121 Store LLC Grant Deed $83k · Wachovia Bank NA
    Dec 11, 2001 $60,000 121 Store LLC Manning,maria C Grant Deed $45k · Intercredit Bank NA

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $17,631,000
      Market price range: $16.3M - $43.1M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $28,210,000
      Current use
      WAREHOUSE, STORAGE
      $25,250,000
      Change: -11% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $24,140,000
      Change: -14% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2305
    Latitude
    25.7705
    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
    $238,072
    $7,542,720
    $6,217,280
    $13,760,000
    -
    $7,542,720
    $6,217,280
    $13,760,000

    Comparable in this City

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      7,140 SF

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      1895 8th St

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      36,744 SF

      106 Ponce De Leon Blvd

      GROCERY, SUPERMARKET
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    • Value Estimation
      $19,955,000
      102,357 SF

      106 Ponce De Leon Blvd

      GROCERY, SUPERMARKET
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    • Value Estimation
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      20,065 SF

      2425 8th St

      GROCERY, SUPERMARKET
      2425 8th St, Miami, FL 33135-3003
      View Details
    • Value Estimation
      $720,000
      5,449 SF

      3650 8th St

      FINANCIAL BUILDING
      3650 8th St, Miami, FL 33135-4135
      View Details

    Similar Nearby for Sale

    • $2,820,000

      Miami Retail Strip Center Investment

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      Miami Retail Strip Center Investment

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      Turnkey Convenience Store Opportunity

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    Similar Nearby for Lease

    • Contact for pricing
      37,737 SF

      Retail Space in Little Havana

      Retail space available in a Publix-anchored shopping center.
      121 SW 22Nd Ave, Miami, FL 33135
      View Details
    • Contact for pricing
      7,500 SF

      Calle Ocho Retail Opportunity

      Renovated retail building in Little Havana with parking.
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      8,500 SF

      Calle Ocho Retail/Office Building

      Five-story building with retail and office space on Calle Ocho.
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      Retail Space Available For Rent

      Retail space available for rent in Miami, Florida.
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      Retail Space on Flagler Street

      Retail space available immediately on W. Flagler Street.
      1879 W Flagler St, Miami, FL 33135
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      6,120 SF

      Retail Space in Miami, FL

      Retail space with off-street parking and development potential.
      210 SW 22Nd Ave, Miami, FL 33135
      View Details
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    Miami, FL 33135
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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.

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