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Property profile & analytics
OFF-MARKET
Estimated value
$6,030,000
Outlet malls
163 39th St Miami, FL 33137-3631
Entity Owned
21-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-8765462
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2015
Construction
CONCRETE
Total area
14,901 SF
Lot
0.2 ac (8,761 SF)
Zoning code
6110:COMM/RES-DESIGN DIST
APN
01-3124-030-0050
UPID
US18-8765462
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
-
Hermes Department Store Clothing & Fashion Store
-
Saint Louis Home Decor Store Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$7.48M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.03M
Owner & transaction history
Oak Plaza Associates Ltd · 21 yrs held
Oak Plaza Associates Ltd
since 2005
7 recorded transactions
Zoning & alternative use
6110:COMM/RES-DESIGN DIST · Miami, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$9.7M
+4.6%
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 submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs 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
by Request
CAP Approach
CAP Return
Estimation
6%
$8,105,000
6.5%
$7,480,000
7%
$6,945,000
Alternative Use
Use
Estimation
RETAIL STORES
$9,315,000
Current use
AUTO REPAIR, GARAGE
$9,740,000
Change: +5% · Conversion: Difficult
OFFICE BUILDING
$9,170,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$6.03M
Range $5.43M – $6.63M · ±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
$405 / 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
$148,925
Tax year 2023
Assessed value
$11,140,000
Assessed 2023
Previous assessed
$11,000,000
+1.3% YoY
Effective rate
1.34%
On assessed value
Assessed land
$7,665,875
Assessed improvement
$3,474,125
Land market value
$7,665,875
Improvement market value
$3,474,125
Total market value
$11,140,000
Applied tax rate
100.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2015
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
4
Total area
14,901 SF
Lot
0.2 ac (8,761 SF)
Zoning code
6110:COMM/RES-DESIGN DIST
APN
01-3124-030-0050
UPID
US18-8765462
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6110:COMM/RES-DESIGN DIST · Miami, FL
Zoning 6110:COMM/RES-DESIGN DIST · permitted uses
6110:COMM/RES-DESIGN DIST · Miami, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Miami. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$9.3M
AUTO REPAIR, GARAGE
Est. value
$9.7M
OFFICE BUILDING
Est. value
$9.2M
RETAIL STORES Current
AUTO REPAIR, GARAGE
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
2015
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
4
Lot
0.2 ac
Current owner
From public records · entity-resolved
Oak Plaza Associates Ltd
Entity
Free & Clear · 21 yrs held
Mailing address
3841 NE 2ND AVE STE #400, MIAMI, FL 33137-3699
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 3, 2020
—
Oak Plaza Associates Del LLC
—
Deed
related
$490,000,000 · Bank Of America
Aug 30, 2018
—
Oak Plaza Associates Del LLC
—
Loan Modification
related
$490,000,000 · Deutsche Bk Ag/ny Branch
Jul 30, 2013
—
Ben Newton LLC
—
Loan Modification
related
$251,500,000 · Hsbc Bank USA
Oct 3, 2012
—
39th St Del LLC
—
Deed Of Trust
related
$23,180,000 · Credit Agricole Corp & Inv Bk
Jan 18, 2012
—
39th St Del LLC
—
Deed Of Trust
related
$5,000,000 · Credit Agricole Corp & Inv Bk
Dec 5, 2011
—
39th St Del LLC
—
Deed Of Trust
related
$60,000,000 · Credit Agricole Corp & Inv Bk
Mar 8, 2011
—
39th St Del LLC
—
Deed Of Trust
related
$45,000,000 · Credit Agricole Corp & Inv Bk
Nov 18, 2010
—
Oak Plaza Associates Del LLC
—
Grant Deed
related
$1,892,000 · Branch Banking & Trust Co
Apr 8, 2005
$500,000
Oak Plaza Associates Ltd
Rich-chris Corp
Grant Deed
—
—
—
Oak Plaza Associates Del LLC
—
Loan Modification
related
$490,000,000 · Deutsche Bk Ag/ny Branch
—
—
Oak Plaza Associates Del LLC
—
Deed Of Trust
related
—
—
—
Oak Plaza Associates Del LLC
—
Loan Modification
related
$490,000,000 · Bank Of America
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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