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Property profile & analytics
OFF-MARKET
Estimated value
$4,065,000
Turn key restaurants
1445 Pennsylvania Ave Miami Beach, FL 33139-4085
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-4547358
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1939
Construction
CONCRETE
Total area
7,994 SF
Lot
0.11 ac (4,680 SF)
Zoning code
6400:COMMERCIAL,CENTRAL
APN
02-3234-015-0060
UPID
US18-4547358
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.51M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.89M
Blend (final)
Blend
$4.07M
Owner & transaction history
1445 Pennsylvania Ave LLC · 4 yrs held
1445 Pennsylvania Ave LLC
since 2021
Last sale
$4.1M
3 recorded transactions
Zoning & alternative use
6400:COMMERCIAL,CENTRAL · Miami Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$6.7M
+12.6%
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 Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Miami Beach 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
$4,725,000
ML approach
$4,505,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$5,930,000
Current use
COMMERCIAL (GENERAL)
$6,675,000
Change: +13% · Conversion: Easy
AUTO REPAIR, GARAGE
$5,225,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$4.07M
Range $3.66M – $4.47M · ±10% · vs last sale $4.10M (Sep 2 2021)
Last sale anchor
$4.10M
Sep 2 2021
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
$509 / 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
$49,131
Tax year 2023
Assessed value
$2,600,000
Assessed 2023
Previous assessed
$2,600,000
+0.0% YoY
Effective rate
1.89%
On assessed value
Assessed land
$1,638,000
Assessed improvement
$962,000
Land market value
$1,638,000
Improvement market value
$962,000
Total market value
$2,600,000
Applied tax rate
200.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1939
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
2
Total area
7,994 SF
Lot
0.11 ac (4,680 SF)
Zoning code
6400:COMMERCIAL,CENTRAL
APN
02-3234-015-0060
UPID
US18-4547358
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6400:COMMERCIAL,CENTRAL · Miami Beach, FL
Zoning 6400:COMMERCIAL,CENTRAL · permitted uses
6400:COMMERCIAL,CENTRAL · Miami Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Miami Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$5.9M
COMMERCIAL (GENERAL)
Est. value
$6.7M
AUTO REPAIR, GARAGE
Est. value
$5.2M
RESTAURANT Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1939
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Lot
0.11 ac
Current owner
From public records · entity-resolved
1445 Pennsylvania Ave LLC
Entity
Mailing address
450 ALTON RD APT #606, MIAMI BEACH, FL 33139-6714
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 2, 2021
$4,100,000
1445 Pennsylvania Ave LLC
Topwater Enterprises INC
Warranty Deed
$2,000,000 · South State Bank NA
—
—
Topwater Enterprises INC
—
Deed Of Trust
related
$450,000 · Igor L & Alla Barsky
—
—
Topwater Ents INC
—
Deed Of Trust
related
$2,500,000 · Timothy M Hogle
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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