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Property profile & analytics
OFF-MARKET
Estimated value
$1,960,000
Manufacturing properties
1375 123rd St North Miami, FL 33161-6525
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-3145449
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1967
Construction
CONCRETE
Total area
12,350 SF
Lot
0.92 ac (40,033 SF)
Zoning code
7100:INDUSTRIAL,LIGHT MFG
APN
06-2229-043-0020
UPID
US18-3145449
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
-
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.03M
CAP Approach
CAP
$2.56M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.96M
Owner & transaction history
Nomi Rail Properties LLC · 4 yrs held
Nomi Rail Properties LLC
since 2022
Last sale
$1.9M
6 recorded transactions
Zoning & alternative use
7100:INDUSTRIAL,LIGHT MFG · North 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 North Miami submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North 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
$2,010,000
ML approach
$2,025,000
CAP Approach
CAP Return
Estimation
6%
$2,765,000
6.5%
$2,555,000
7%
$2,370,000
Blend value · Realmo final
$1.96M
Range $1.76M – $2.16M · ±10% · vs last sale $1.90M (Apr 5 2022)
Last sale anchor
$1.90M
Apr 5 2022
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
$159 / 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
$56,935
Tax year 2023
Assessed value
$2,557,293
Assessed 2023
Previous assessed
$2,559,744
-0.1% YoY
Effective rate
2.23%
On assessed value
Assessed land
$2,001,650
Assessed improvement
$555,643
Land market value
$2,001,650
Improvement market value
$555,643
Total market value
$2,557,293
Applied tax rate
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1967
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
12,350 SF
Lot
0.92 ac (40,033 SF)
Zoning code
7100:INDUSTRIAL,LIGHT MFG
APN
06-2229-043-0020
UPID
US18-3145449
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
7100:INDUSTRIAL,LIGHT MFG · North Miami, FL
Zoning 7100:INDUSTRIAL,LIGHT MFG · permitted uses
7100:INDUSTRIAL,LIGHT MFG · North Miami, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Miami. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1967
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.92 ac
Current owner
From public records · entity-resolved
Nomi Rail Properties LLC
Entity
Mailing address
PO BOX 531, MIAMI, FL 33153
Ownership since
2022
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
Apr 5, 2022
$1,900,000
Nomi Rail Properties LLC
Phantom 4 LLC
Warranty Deed
—
Mar 13, 2020
—
Phantom 4 LLC
Pro Sound INC
Warranty Deed
—
Dec 4, 2014
—
Pro Sound INC
—
Trustees Deed
related
$700,000 · Branch Bk&tr
Jul 8, 1998
$425,000
Sintow-jacobs Enterprises INC
Junior South Corp
Grant Deed
$300,000 · Junior South Corp
—
—
Sinto Jacob Enterprises INC
—
Deed Of Trust
related
$425,000 · Nationsbank
—
—
Pro Sound INC
—
Deed Of Trust
related
$370,000 · Branch Banking & Trust Co
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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