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    Property profile & analytics

    1247 Coral Way Miami, FL 33145-2963

    • Turn key restaurants
    • 1,440 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    May 20, 2022
    $1,000,000
    Value Estimations
    $970,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5160941
    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

    • B&W INC / Big Box & Wholesale Store / Building Supply
    • Juanchi's Burgers / Restaurant

    Property Details for 1247 Coral Way

    Year built
    1945
    Construction
    CONCRETE
    Lot size
    0.06 lot acres
    Property size
    1,440 SF
    Zone code
    6100:COMMERCIAL,NEIGHBRHD
    Property type
    Turn key restaurants
    APN
    01-4139-007-3450
    APU
    141390073450

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $965,000
      ML approach
      $955,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $935,000
      Market price range: $521k - $1.90M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,070,000
      Current use
      COMMERCIAL (GENERAL)
      $1,065,000
      Change: -0% Conversion: Easy
      AUTO REPAIR, GARAGE
      $940,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2152
    Latitude
    25.7513
    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
    $16,322
    $351,000
    $443,000
    $794,000
    -
    $351,000
    $443,000
    $794,000

    Comparable in this City

    • Value Estimation by Request
      7,200 SF

      3138 Coral Way

      RESTAURANT • 7,200 SF
      3138 Coral Way, Miami, FL 33145-3210
      View Details
    • Value Estimation
      $635,000
      3,055 SF

      3252 Coral Way

      RESTAURANT • 3,055 SF
      3252 Coral Way, Miami, FL 33145-2234
      View Details
    • Value Estimation by Request
      4,521 SF

      1771 Coral Way

      RESTAURANT • 4,521 SF
      1771 Coral Way, Miami, FL 33145-2728
      View Details
    • Value Estimation by Request
      7,525 SF

      2860 Coral Way

      RESTAURANT • 7,525 SF
      2860 Coral Way, Miami, FL 33145-3204
      View Details
    • Value Estimation by Request
      2,217 SF

      1201 Coral Way

      RESTAURANT • 2,217 SF
      1201 Coral Way, Miami, FL 33145-2961
      View Details
    • Value Estimation by Request
      2,245 SF

      1590 Coral Way

      RESTAURANT • 2,245 SF
      1590 Coral Way, Miami, FL 33145-2850
      View Details

    Similar Nearby for Sale

    • $299,000

      Turnkey Restaurant in Coral Way

      Established Chinese restaurant in high-traffic Miami shopping center for sale.
      3301 Coral Way, Miami, FL 33145
      View Details
    • $1,500,000

      Restaurant Property in Coral Way

      Trophy property with a nationally recognized tenant in Miami.
      2224 SW 22Nd St, Miami, FL 33145
      View Details
    • $140,000

      Prime Miami Retail Opportunity

      Profitable Cafe & Market, E2 Visa Potential
      2296 Coral Way, Miami, FL 33145
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    • $2,499,000

      Coral Way Retail Opportunity

      Retail property on Coral Way near Downtown Miami and Brickell.
      2292 SW 22Nd St, Miami, FL 33145
      View Details
    • Contact for pricing

      Retail Space on Coral Way

      Retail property for sale along Coral Way & SW 27th Ave.
      2690 Coral Way, Miami, FL 33145
      View Details
    • $3,349,000

      Miami Commercial Investment Opportunity

      Fully leased commercial property in Coral Way corridor with stable income.
      2223 Sw 13Th Ave, Miami, FL 33145
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Miami Restaurant Space for Lease

      Prime Coral Way location, fully equipped.
      3000 Coral Way, Miami, FL 33145
      View Details
    • $486 /Mo
      6,400 SF

      Prime Miami Restaurant Space

      6,400 SF Restaurant, High Traffic
      1801 22Nd St, Miami, FL 33145
      View Details
    • Contact for pricing
      1,795 SF

      Retail Space on Coral Way

      Retail space for rent in Coral Gables, Florida.
      2690 Coral Way, Coral Gables, FL 33145
      View Details
    • $35 SF/Yr
      6,420 SF

      Prime Miami Retail Space

      6,420 SF Retail, High Visibility
      1601 32Nd Ave, Miami, FL 33145
      View Details
    • Contact for pricing
      2,550 SF

      Retail Space in Miami District

      Retail space available in the heart of Miami's Commercial District.
      2648-2659 NW 20Th St, Miami, FL 33145
      View Details
    • $16 SF/Yr
      3,057 SF

      Prime Miami Retail Space

      High-traffic Coral Way location, 3,057 sq ft.
      1741 22Nd St, Miami, FL 33145
      View Details
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    Miami, FL 33145-2963
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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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