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Property profile & analytics
OFF-MARKET
Estimated value
$7,100,000
Hotels
124 Palm Dr Florida City, FL 33034-3519
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US18-5366978
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1990
Construction
CONCRETE
Total area
61,174 SF
Lot
2.15 ac (93,654 SF)
Zoning code
6000:COMMERCIAL,GENERAL
APN
16-7919-001-0401
UPID
US18-5366978
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.50M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.10M
Owner & transaction history
Kunvarji Hotels LLC · 14 yrs held
Kunvarji Hotels LLC
since 2012
6 recorded transactions
Zoning & alternative use
6000:COMMERCIAL,GENERAL · Florida City, 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 Florida City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Florida City 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$9,205,000
6.5%
$8,495,000
7%
$7,890,000
Blend value · Realmo final
$7.10M
Range $6.39M – $7.81M · ±10%
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
$116 / 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
$94,411
Tax year 2023
Assessed value
$4,800,000
Assessed 2023
Previous assessed
$4,800,000
+0.0% YoY
Effective rate
1.97%
On assessed value
Assessed land
$1,873,080
Assessed improvement
$2,926,920
Land market value
$1,873,080
Improvement market value
$2,926,920
Total market value
$4,800,000
Applied tax rate
1,600.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1990
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
2
Units
123
Total area
61,174 SF
Lot
2.15 ac (93,654 SF)
Zoning code
6000:COMMERCIAL,GENERAL
APN
16-7919-001-0401
UPID
US18-5366978
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6000:COMMERCIAL,GENERAL · Florida City, FL
Zoning 6000:COMMERCIAL,GENERAL · permitted uses
6000:COMMERCIAL,GENERAL · Florida City, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Florida City. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1990
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Units
123
Lot
2.15 ac
Current owner
From public records · entity-resolved
Kunvarji Hotels LLC
Entity
Mailing address
124 E PALM DR, FLORIDA CITY, FL 33034-3519
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 12, 2012
$4,000,000
Kunvarji Hotels LLC
Crp/cardel Florida City Hotel LLC
Warranty Deed
$2,177,550 · Community Bank Of Florida
Feb 25, 2011
—
Crp Of Cardel Brickell Hotel LLC
—
Deed Of Trust
related
$38,700,000 · Wells Fargo Bank
Apr 1, 2009
—
Crp Of Cardel Brickell Hotel LLC
—
Grant Deed
related
$38,700,000 · Wells Fargo Bank
May 15, 2007
$7,500,000
Florida Inns INC
Leemon,c L & Linda
Grant Deed
—
May 15, 2007
$9,225,000
Crp Of Cardel Florida City Hotel
Florida Inns INC
Grant Deed
related
—
—
—
Kunvarji Hotels LLC
—
Deed Of Trust
related
$2,177,550 · Community Bank Of Florida
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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