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    12415 13th Ave North Miami, FL 33161-5962
    Property profile & analytics

    12415 13th Ave, North Miami, FL 33161-5962

    View on Map
    • Manufacturing properties
    • 12,792 SF
    • 0.35 lot acres
    Off-Market
    Last Sale Jul 8, 2022
    $3,500,000
    Property ID
    US18-0312756
    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
    $3,600,000
    Show details
    Cap Rate Potential
    4.6%
    Manufacturing properties
    Location Intelligence

    Current Use by 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

    Property Details for 12415 13th Ave

    Year built
    1956
    Construction
    CONCRETE
    Lot size
    0.35 lot acres
    Zone code
    7100:INDUSTRIAL,LIGHT MFG
    Property type
    Manufacturing properties
    APN
    06-2229-042-0223
    APU
    622290420223

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 8, 2022 $3,500,000 12415 Ne 13th Ave LLC C & M Craftmans II INC Warranty Deed —
    Oct 2, 2012 $670,000 C & M Craftmans II INC Ziva Ents LLC Warranty Deed —
    May 1, 2012 $1,100 Ziva Ents LLC Aquafina Inv Ltd Co Coc Trustees Deed · related —
    Apr 27, 2012 $1,100 Wells Fargo Bank NA Aquafina Inv Ltd Co Coc Trustees Deed · related —
    Jun 1, 2005 $1,232,700 Aquafina Investment Ltd Co Craftsman Mall LP Special Warranty Deed $987k · Wachovia Bank NA
    — — Ziva Ents LLC — Deed Of Trust · related $400k · Ct Capital Ltd

    Description

    This exceptional industrial property, located at 12415 NE 13th Ave in North Miami, Florida (zip code 33161), offers a substantial warehouse space ideal for various business needs. The property is zoned 7100 and features a single building with multiple suites, totaling 12,792 square feet. Currently, one suite is available for lease. This particular suite boasts approximately 4,000 square feet of warehouse space, complemented by 109 square feet of office space, providing a practical blend of operational and administrative areas. The warehouse features a generous 16-foot ceiling height, offering ample vertical storage capacity. The electrical service for this bay is 200 amps, ensuring sufficient power for most industrial applications. The property's APN is 06-22-29-042-0223. Its prime location in North Miami offers easy access to major transportation routes, making it a strategic choice for businesses requiring efficient logistics and distribution capabilities. This is a fantastic opportunity to secure a well-appointed warehouse space in a thriving Florida market. Interested parties should inquire for further details and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,705,000
      ML approach
      $3,745,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,865,000
      6.5%
      $2,645,000
      7%
      $2,455,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,556,000
      Market price range: $2.33M - $4.86M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $3,430,000
      Current use
      MEDICAL BUILDING
      $5,620,000
      Change: +64% Conversion: Difficult
      OFFICE BUILDING
      $4,170,000
      Change: +22% Conversion: Difficult
      WAREHOUSE, STORAGE
      $3,805,000
      Change: +11% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $3,635,000
      Change: +6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    North Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.172
    Latitude
    25.8901
    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
    $63,652
    $770,400
    $2,088,600
    $2,859,000
    -
    $770,400
    $2,088,600
    $2,859,000

    Comparable in this City

    • Value Estimation
      $1,265,000
      8,208 SF

      12425 13th Ave

      MANUFACTURING (LIGHT)
      12425 13th Ave, North Miami, FL 33161-5990
      View Details
    • Value Estimation
      $535,000
      3,200 SF

      1470 130th St

      MANUFACTURING (LIGHT)
      1470 130th St, North Miami, FL 33161-4411
      View Details
    • Value Estimation
      $2,175,000
      15,400 SF

      1407 129th St

      MANUFACTURING (LIGHT)
      1407 129th St, Miami, FL 33161
      View Details
    • Value Estimation
      $1,305,000
      6,375 SF

      1501 130th St

      MANUFACTURING (LIGHT)
      1501 130th St, North Miami, FL 33161-4481
      View Details
    • Value Estimation
      $625,000
      3,625 SF

      1580 131st St

      MANUFACTURING (LIGHT)
      1580 131st St, North Miami, FL 33161-4426
      View Details
    • Value Estimation
      $1,995,000
      13,457 SF

      12275 13th Ave

      MANUFACTURING (LIGHT)
      12275 13th Ave, North Miami, FL 33161-5927
      View Details

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      Warehouse with offices, ideal for storage or light industrial use.
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    Similar Nearby for Lease

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      3,508 SF

      North Miami Flex/Industrial Space

      Flex/industrial space available for lease in North Miami.
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    • $4 SF/Yr
      5,400 SF

      Prime Flex Space, NE 125th St

      Newly renovated, 5400 sq ft office space.
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    • Contact for pricing
      143,312 SF

      Versatile Warehouse and Storage Options

      Multiple warehouse and storage spaces available near major thoroughfares.
      12144 Northeast 14Th Avenue Rd, North Miami, FL 33161
      View Details
    • Contact for pricing
      500 SF

      Warehouse with Fenced and Secured

      15,561 SF warehouse with office and drive-in doors.
      12050 NE 14Th Ave, North Miami, FL 33161
      View Details
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    North Miami, FL 33161-5962
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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.

    More about this property
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