Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1490 123rd St North Miami, FL 33161-6028

    • Amusement parks
    • 5,519 SF
    • 1.51 lot acres
    OFF-MARKET
    Value Estimations
    $505,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2105631
    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

    • Amusement parks

    Property Details for 1490 123rd St

    Year built
    1982
    Construction
    CONCRETE
    Lot size
    1.51 lot acres
    Property size
    5,519 SF
    Zone code
    PLANNED UNIT DEVELOPMENT
    Property type
    Amusement parks
    APN
    06-2229-083-0012
    APU
    622290830012

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $440,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $572,000
      Market price range: $141k - $1.54M

    • Alternative Use

      Use
      Estimation
      RECREATIONAL/ENTERTAINMENT (GENERAL)
      $740,000
      Current use
      OFFICE BUILDING
      $840,000
      Change: +13% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $775,000
      Change: +5% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $675,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    North Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1681
    Latitude
    25.8891
    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
    $29,939
    $790,188
    $602,047
    $1,392,235
    -
    $790,188
    $602,047
    $1,392,235

    Comparable in this City

    • Value Estimation by Request
      3,170 SF

      725-745 130Th St

      Specialty properties • 3,170 SF
      725-745 130Th St, North Miami, FL 33161
      View Details
    • Value Estimation by Request

      14871 14Th Ave

      Multifamily properties
      14871 14Th Ave, Miami, FL 33161
      View Details
    • Value Estimation by Request

      14300 Dixie Hwy

      Specialty properties
      14300 Dixie Hwy, Miami, FL 33161
      View Details
    • Value Estimation by Request
      0.50 Acres

      1065 125th St

      PARKING LOT • 0.50 Acres
      1065 125th St, North Miami, FL 33161-5821
      View Details
    • Value Estimation by Request
      0.15 Acres

      N

      VACANT COMMERCIAL LAND • 0.15 Acres
      N, Miami, FL 33161
      View Details
    • Value Estimation by Request
      0.22 Acres

      N

      VACANT COMMERCIAL LAND • 0.22 Acres
      N, Miami, FL 33161
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Versatile Commercial Space Available

      Open-concept space suitable for various businesses with ample parking.
      13020 NE 8Th Ave, Miami, FL 33161
      View Details
    • $3,000,000
      3,170 SF

      North Miami Event Space & Office

      Prime Location, Turnkey Opportunity
      725-745 130 St, North Miami, FL 33161
      View Details
    • $849,900

      Prime Miami Multifamily Investment

      Five-unit apartment building, high ROI.
      1326 110Th St, Miami, FL 33161
      View Details
    • $880,000

      Miami Duplex: Prime Location, High Income

      Turnkey Duplex, $5,446 Monthly Income
      1330 117Th Ter, Miami, FL 33161
      View Details
    • $1,000,000

      Miami Warehouse - $1M Asking Price

      Prime Miami location, expansive warehouse, high visibility.
      11999 Dixie Hwy, Miami, FL 33161
      View Details
    • $720,000

      Biscayne Shores Duplex Investment

      Miami Duplex - Updated, Rented
      1207 110Th St, Miami, FL 33161
      View Details

    Similar Nearby for Lease

    • $35 SF/Yr
      4,432 SF

      High-Traffic North Miami Corner

      4,432 SF Office/Retail, High Visibility
      590 125Th Ter, North Miami, FL 33161
      View Details
    • $0.28 SF/Yr
      1,350 SF

      Biscayne Blvd Executive Office Suite

      Modern Office Space, Miami-Dade
      10800 Biscayne Blvd, Miami, FL 33161
      View Details
    • $16 SF/Yr
      2,300 SF

      North Miami Warehouse For Sale

      2300 sq ft Industrial Space, High Ceilings
      12875 14 Ave, North Miami, FL 33161
      View Details
    • $0.16 SF/Yr
      3,627 SF

      Biscayne Blvd Retail Space For Sale

      Prime Retail Space, 3,627 sq ft
      10905 Biscayne Blvd, Miami, FL 33161
      View Details
    • Contact for pricing
      4,000 SF

      North Miami Retail Space Available

      Retail space available in North Miami's business corridor.
      870 NE 125Th Ter, North Miami, FL 33161
      View Details
    • Contact for pricing
      930 SF

      Retail Space Near Major Roadways

      Retail space with frontage on a major commuter road.
      805-839 NW 119Th St, Miami, FL 33161
      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.
    1490 123rd St
    North Miami, FL 33161-6028
    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

    Google sign-in failed. Please try again or use another login method.