Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Amusement parks
1490 123rd St North Miami, FL 33161-6028
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US18-2105631
Property profile
Verified
Property type
Amusement parks
Use group
AMUSEMENT PARK
Year built
1982
Construction
CONCRETE
Total area
5,519 SF
Lot
1.51 ac (65,849 SF)
Zoning code
PLANNED UNIT DEVELOPMENT
APN
06-2229-083-0012
UPID
US18-2105631
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
$440k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$573k
Blend (final)
Blend
$505k
Owner & transaction history
1490 North 123rd LLC · 8 yrs held
1490 North 123rd LLC
since 2018
7 recorded transactions
Zoning & alternative use
PLANNED UNIT DEVELOPMENT · North Miami, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Ordinances | North Miami, FL
Top alternative use upside
Office building
$840,000
+13.5%
Commercial (general)
$775,000
+4.9%
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
by Request
ML approach
$440,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
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
Blend value · Realmo final
$505k
Range $455k – $556k · ±10%
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
$92 / 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
$29,939
Tax year 2023
Assessed value
$1,392,235
Assessed 2023
Previous assessed
$1,401,463
-0.7% YoY
Effective rate
2.15%
On assessed value
Assessed land
$790,188
Assessed improvement
$602,047
Land market value
$790,188
Improvement market value
$602,047
Total market value
$1,392,235
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
Amusement parks
Use group
AMUSEMENT PARK
Status
Off-Market
Year built
1982
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Buildings
2
Stories
2
Total area
5,519 SF
Lot
1.51 ac (65,849 SF)
Zoning code
PLANNED UNIT DEVELOPMENT
APN
06-2229-083-0012
UPID
US18-2105631
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
PLANNED UNIT DEVELOPMENT · North Miami, FLZoning PLANNED UNIT DEVELOPMENT · permitted uses
PLANNED UNIT DEVELOPMENT · North Miami, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Ordinances | North Miami, FL
Alternative use value scenarios
Repositioning upside vs current use
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
Est. value
$740,000
OFFICE BUILDING
Est. value
$840,000
COMMERCIAL (GENERAL)
Est. value
$775,000
AUTO REPAIR, GARAGE
Est. value
$675,000
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
OFFICE BUILDING
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
1982
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Buildings
2
Lot
1.51 ac
Current owner
From public records · entity-resolved
1490 North 123rd LLC
Entity
Mailing address
1420 W MISSISSIPPI AVE, TAMPA, FL 33629
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
17 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 6, 2024
—
1490 North 123rd LLC
—
Deed
related
$32,000,000 · Walker & Dunlop LLC
Jan 29, 2018
—
1490 North 123rd LLC
Wrpv Xi Watermarke Miami LLC
Grant Deed
related
—
Feb 3, 2017
$61,750,100
1490 North 123rd LLC
Wrpv Xi Watermarke Miami LLC
Grant Deed
—
Jun 18, 2007
$43,000,000
Greenwich Park Apartments LP
Alliance Td LP
Special Warranty Deed
—
Feb 7, 2003
$72,000
Evelyn C Hadid
Scuotto,diana
Grant Deed
$64,800 · America's Wholesale Lender
Jan 3, 2003
$84,000
Marta Schneider
Cardenas,leysis
Grant Deed
$67,200 · South Atlantic Mortgage Corp
Jul 9, 2001
$53,000
Donna Cosmo
Steiner,ueli
Grant Deed
$51,807 · Capital Mortgage & Associates
Feb 16, 2001
$40,000
Romulo R Encinozo
Economides,aphrodite
Grant Deed
$28,000 · Bank Of America
—
—
Olga T Goyriena
—
Deed Of Trust
related
$32,000 · Chase Manhattan Mortgage Corp
—
—
Crystal Vicente
—
Deed Of Trust
related
$58,500 · New Century Mortgage
—
—
Monica Alywin
—
Deed Of Trust
related
$20,000 · Washington Mutual Fsb
—
—
Sandra Merced
—
Deed Of Trust
related
$15,180 · Quicken Loans INC
—
—
Kleber Dejesus
—
Deed Of Trust
related
$42,000 · Bankunited Fsb
—
—
Paul Jeremie
—
Deed Of Trust
related
$120,000 · Citibank Fsb
—
—
Zinat Moinzadeh
—
Deed Of Trust
related
$11,544 · Suntrust Bank NA
—
—
Cindy A Marinescu
—
Deed Of Trust
related
$45,000 · Green Tree Retail Svcs Bank
—
—
Cindy A Marinescu
—
Deed Of Trust
related
$20,000 · Green Tree Financial Corp
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1490 123rd St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
