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Property profile & analytics
OFF-MARKET Estimated value $1,840,000
Warehouses

15221 21st Ave North Miami Beach, FL 33162-6003

10,909 SF 0.44 ac lot Built 1963
Entity Owned 23-yr Hold Free & Clear
Property ID
US18-3259960
Property summary
AI-generated overview

This exceptional 10,909 square foot industrial property, situated on nearly half an acre (19,250 sq ft) of land in North Miami Beach, Florida (33162), presents a unique investment opportunity. The property, located just one block from Biscayne Boulevard, boasts a prime location within a rapidly growing area. The building, a two-story structure, is currently configured as a film studio, offering versatile flex space adaptable to various uses. Its B-4 Light Industrial zoning allows for a range of potential developments. The property recently underwent a 50-year building recertification in May 2023, ensuring structural integrity and minimizing future maintenance concerns. This turnkey operation is ideal for both end-users seeking a functional space and investors looking to capitalize on the area's growth potential and redevelopment opportunities. The asking price is $5,999,999. This property offers a rare combination of location, size, and recent upgrades, making it a highly desirable asset in the competitive North Miami Beach commercial real estate market. Its proximity to Biscayne Boulevard provides excellent access to major transportation routes, enhancing its logistical advantages. The substantial land area also presents possibilities for future expansion or redevelopment, further increasing its long-term value. Don't miss this chance to acquire a high-quality industrial property in a thriving location.

Property profile
Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1963
Construction CONCRETE
Total area 10,909 SF
Lot 0.44 ac (19,250 SF)
Zoning code 7100:INDUSTRIAL,LIGHT MFG
APN 07-2216-008-0250
UPID US18-3259960
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
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.84M
Owner & transaction history
Gillen & Gillen LLC · 23 yrs held
Gillen & Gillen LLC
since 2002
1 recorded transaction
2002
$210,000
Zoning & alternative use
7100:INDUSTRIAL,LIGHT MFG · North Miami Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source Official NMB Zoning Map
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