Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1250 23rd St Miami, FL 33142-7620
    Back to Search
    Property profile & analytics

    1250 23rd St, Miami, FL 33142-7620

    View on Map
    • Outlet malls
    • 46,042 SF
    • 1.58 lot acres
    Off-Market
    Property ID
    US18-3378301
    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
    $9,910,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Bond Plumbing Supply - Miami / Plumbing Service / Building Supply

    Property Details for 1250 23rd St

    Year built
    1947
    Construction
    CONCRETE
    Lot size
    1.58 lot acres
    Zone code
    7000:INDUSTRIAL,GENERAL
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    01-3126-046-0010
    APU
    131260460010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 29, 2018 — Bond Plumbing Supply INC — Deed · related $1.3M · Bankunited Fsb
    — — Bond Plumbing Supply INC — Deed Of Trust · related $1.5M · General Electric Capital Corp
    — — Bond Plumbing Supply INC — Deed Of Trust · related $1.3M · Bankunited Fsb

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $10,589,000
      Market price range: $6.16M - $19.9M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $13,585,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $13,085,000
      Change: -4% Conversion: Moderate
      WAREHOUSE, STORAGE
      $10,895,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2164
    Latitude
    25.7984
    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
    $86,147
    $5,521,680
    $1,180,321
    $6,702,001
    -
    $5,521,680
    $1,180,321
    $6,702,001

    Comparable in this City

    • Value Estimation by Request
      672 SF

      2998 54th St

      WHOLESALE OUTLET, DISCOUNT STORE
      2998 54th St, Miami, FL 33142-2857
      View Details
    • Value Estimation
      $1,800,000
      6,000 SF

      2140 36th St

      WHOLESALE OUTLET, DISCOUNT STORE
      2140 36th St, Miami, FL 33142-5432
      View Details
    • Value Estimation
      $2,075,000
      8,424 SF

      1620 36th St

      WHOLESALE OUTLET, DISCOUNT STORE
      1620 36th St, Miami, FL 33142-5572
      View Details
    • Value Estimation
      $1,135,000
      4,584 SF

      3109 27th Ave

      WHOLESALE OUTLET, DISCOUNT STORE
      3109 27th Ave, Miami, FL 33142-5819
      View Details
    • Value Estimation
      $1,540,000
      7,062 SF

      1853 20th St

      WHOLESALE OUTLET, DISCOUNT STORE
      1853 20th St, Miami, FL 33142-7431
      View Details
    • Value Estimation
      $955,000
      3,040 SF

      1876 20th St

      WHOLESALE OUTLET, DISCOUNT STORE
      1876 20th St, Miami, FL 33142
      View Details

    Similar Nearby for Lease

    • 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 33142
      View Details
    • $5 SF/Yr
      861 SF

      Miami Retail Space For Lease

      High-traffic, 861 sq ft warehouse
      4647 17Th Ave, Miami, FL 33142
      View Details
    • Contact for pricing
      1,500 SF

      Adaptable Space in Growing Submarket

      1,500 SF space suitable for retail, creative, or office uses.
      2100 NW 22Nd Ct, Miami, FL 33142
      View Details
    • Contact for pricing

      Allapattah Industrial Parking Lot

      Gated 7,000 SF paved parking lot in Allapattah, Miami.
      1740 NW 22Nd St, Miami, FL 33142
      View Details
    • $2,800 /Mo
      7,924 SF

      Remodeled Retail Space on 27th

      Prime retail space, remodeled, high traffic, turnkey opportunity.
      3101 NW 27Th Ave, Miami, FL 33142
      View Details
    • Contact for pricing

      Miami River Ground Lease Opportunity

      Rare ground lease opportunity in Miami's growing urban corridor.
      3066 South River Dr, Miami, FL 33142
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1250 23rd St
    Miami, FL 33142-7620
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1250 23rd St, Miami, FL, 33142
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!