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Property profile & analytics
OFF-MARKET
Estimated value
$12,100,000
Amusement parks
1500 123rd St North Miami, FL 33167-2324
Entity Owned
5-yr Hold
Free & Clear
Property ID
US18-5226867
Property profile
Verified
Property type
Amusement parks
Use group
AMUSEMENT PARK
Year built
1963
Construction
CONCRETE
Total area
24,802 SF
Lot
2.78 ac (120,907 SF)
Zoning code
PLANNED UNIT DEVELOPMENT
APN
06-2229-083-0010
UPID
US18-5226867
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
$11.13M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$12.10M
Owner & transaction history
Greenwich Studio LLC · 5 yrs held
Greenwich Studio LLC
since 2021
Last sale
$10.5M
1 recorded transaction
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
$7.0M
+110.5%
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
$12,100,000
ML approach
$11,130,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$7,000,000
Change: +111% · Conversion: Difficult
Blend value · Realmo final
$12.10M
Range $10.89M – $13.31M · ±10% · vs last sale $10.50M (Jun 8 2021)
Last sale anchor
$10.50M
Jun 8 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
$488 / 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
$180,367
Tax year 2023
Assessed value
$9,720,330
Assessed 2023
Previous assessed
$9,720,330
+0.0% YoY
Effective rate
1.86%
On assessed value
Assessed land
$1,450,884
Assessed improvement
$8,269,446
Land market value
$1,450,884
Improvement market value
$8,269,446
Total market value
$9,720,330
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
1963
Construction
CONCRETE
Heating
NONE
Cooling
AC.CHILLED WATER
Buildings
3
Stories
2
Total area
24,802 SF
Lot
2.78 ac (120,907 SF)
Zoning code
PLANNED UNIT DEVELOPMENT
APN
06-2229-083-0010
UPID
US18-5226867
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
OFFICE BUILDING
Est. value
$7.0M
OFFICE BUILDING
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
1963
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Buildings
3
Lot
2.78 ac
Current owner
From public records · entity-resolved
Greenwich Studio LLC
Entity
Free & Clear · 5 yrs held
Mailing address
900 NW 6TH ST STE #201, FORT LAUDERDALE, FL 33311-8285
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 8, 2021
$10,500,000
Greenwich Studio LLC
Greenwich Studio INC
Special Warranty Deed
—
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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