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Property profile & analytics
FOR SALE
Warehouses
1240 NW 74Th St Miami, FL 33147
Entity Owned
13-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-5578041
For Sale
1 / 24
$9,000,000
1240 NW 74Th St, Miami, FL 33147
View Listing →
Property summary
AI-generated overview
This exceptional 29,475-square-foot warehouse, situated on a 64,538-square-foot lot in Miami's West Little River, presents a compelling investment opportunity. Located in a Qualified Opportunity Zone, this single-story building boasts 18-foot ceilings, providing ample vertical space. The practical layout includes three loading docks, two with dock-high doors, enhancing operational efficiency. The property features a spacious open layout with a substantial outdoor area, ideal for various industrial uses. Internal improvements include numerous industrial fans and air conditioning in the main warehouse and office areas. The building is fully sprinklered and offers convenient front parking. Currently occupied by a thriving business generating approximately $1.1 million annually (available for sale separately, with potential lease-back options), this property offers significant upside potential in a rapidly developing neighborhood. The zoning is IU-1. The asking price is $7,400,000. This is a rare chance to acquire a substantial asset in a burgeoning area.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1961
Construction
CONCRETE
Total area
29,475 SF
Lot
1.48 ac (64,538 SF)
Zoning code
7100:INDUSTRIAL,LIGHT MFG
APN
30-3111-033-0033
UPID
US18-5578041
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
-
Movie Prop Rentals Film Production Television Studio
-
1240 NW 74th St Parking Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.47M
Blend (final)
Blend
$3.58M
Owner & transaction history
Heaven Or Vegas LLC · 13 yrs held
Heaven Or Vegas LLC
since 2012
2 recorded transactions
Zoning & alternative use
7100:INDUSTRIAL,LIGHT MFG · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,860,000
Current use
Blend value · Realmo final
$3.58M
Range $3.22M – $3.94M · ±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
$121 / 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
$37,460
Tax year 2023
Assessed value
$3,499,000
Assessed 2023
Previous assessed
$2,585,000
+35.4% YoY
Effective rate
1.07%
On assessed value
Assessed land
$1,936,140
Assessed improvement
$1,562,860
Land market value
$1,936,140
Improvement market value
$1,562,860
Total market value
$3,499,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Sale
Year built
1961
Construction
CONCRETE
Heating
NONE
Stories
1
Total area
29,475 SF
Lot
1.48 ac (64,538 SF)
Zoning code
7100:INDUSTRIAL,LIGHT MFG
APN
30-3111-033-0033
UPID
US18-5578041
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
7100:INDUSTRIAL,LIGHT MFG · Miami, FL
Zoning 7100:INDUSTRIAL,LIGHT MFG · permitted uses
7100:INDUSTRIAL,LIGHT MFG · 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
WAREHOUSE, STORAGE Current
Est. value
$4.9M
WAREHOUSE, STORAGE Current
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
1961
Construction
CONCRETE
Heating
NONE
Stories
1
Lot
1.48 ac
Current owner
From public records · entity-resolved
Heaven Or Vegas LLC
Entity
Mailing address
9840 SW 96TH ST, MIAMI, FL 33176-2803
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 23, 2012
—
Heaven Or Vegas LLC
B & K Investment Partnership
Warranty Deed
$400,000 · Wells Fargo Bank NA
Jun 29, 2012
$500,000
Heaven Or Vegas LLC
B & K Investment Ptshp
Warranty Deed
$200,000 · Simon 2002 Childrens Tr (pt)
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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