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

    1651 3rd Ave Miami, FL 33136-1823

    • Outlet malls
    • 1,889 SF
    • 0.04 lot acres
    OFF-MARKET
    Value Estimations
    $425,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4971248
    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

    • One Way Tabernacle / Store / Church

    Property Details for 1651 3rd Ave

    Year built
    1953
    Construction
    CONCRETE
    Lot size
    0.04 lot acres
    Property size
    1,889 SF
    Zone code
    6101
    Property type
    Outlet malls
    APN
    01-3136-021-1800
    APU
    131360211800

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $320,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $533,000
      Market price range: $533k - $2.21M

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1998
    Latitude
    25.7914
    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
    $0.00
    $84,240
    $81,350
    $165,590
    -
    $84,240
    $81,350
    $165,590

    Comparable in this City

    • Value Estimation
      $425,000
      4,467 SF

      1300 Miami Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 4,467 SF
      1300 Miami Ave, Miami, FL 33136-2816
      View Details
    • Value Estimation
      $540,000
      2,249 SF

      1350 Miami Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 2,249 SF
      1350 Miami Ave, Miami, FL 33136
      View Details
    • Value Estimation
      $115,000
      1,836 SF

      1109 2nd Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 1,836 SF
      1109 2nd Ave, Miami, FL 33136-2713
      View Details
    • Value Estimation
      $900,000
      5,473 SF

      664 Miami Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 5,473 SF
      664 Miami Ave, Miami, FL 33136-4112
      View Details
    • Value Estimation
      $345,000
      1,361 SF

      500 Nws Riv Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 1,361 SF
      500 Nws Riv Dr, Miami, FL 33136-3718
      View Details
    • Value Estimation
      $1,015,000
      6,431 SF

      702 5th Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 6,431 SF
      702 5th Ave, Miami, FL 33136
      View Details

    Similar Nearby for Sale

    • $2,000,000
      2,800 SF

      Miami Retail Investment Opportunity

      Prime Miami retail space, 100% occupied.
      1525 3Rd Ave, Miami, FL 33136
      View Details
    • $2,000,000
      2,800 SF

      Overtown Miami Mixed-Use Building

      Mixed-use building in Overtown, Miami with retail and office space.
      1525 NW 3Rd Ave, Miami, FL 33136
      View Details
    • Contact for pricing

      Remodeled Retail Space in Overtown

      408 SF retail/office space in fast-growing Miami neighborhood.
      216 NW 11Th St, Miami, FL 33136
      View Details
    • $1,200,000

      Downtown Miami Retail Opportunity

      Retail building in the heart of Downtown Miami.
      1139 NW 2Nd Ave, Miami, FL 33136
      View Details
    • $1,590,000
      3,612 SF

      Miami Multifamily Investment Opportunity

      Riverside 5-Unit Airbnb Multiplex
      769 10Th St, Miami, FL 33136
      View Details
    • $6,500,000

      New Construction Co-Living Building

      New construction co-living building in developing Riverside/Little Havana neighborhood.
      1110 NW 7Th St, Miami, FL 33136
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,027 SF

      Retail Space in Shopping Center

      Retail spaces available within a neighborhood shopping center.
      1490 NW 3Rd Ave, Miami, FL 33136
      View Details
    • $5,000 /Mo
      1,169 SF

      Remodeled Retail Spaces in Overtown

      Two retail spaces in a rapidly growing Miami neighborhood.
      212 NW 11Th St, Miami, FL 33136
      View Details
    • $15 SF/Yr
      6,956 SF

      Prime Waterfront Warehouse in Miami

      6,956 SF Warehouse, Waterfront Views
      800 7Th Ave, Miami, FL 33136
      View Details
    • Contact for pricing
      15,039 SF

      Retail Space in Brickell Corridor

      Retail space available in a 23-story residential building.
      117 SW 10Th St, Miami, FL 33136
      View Details
    • $120 SF/Yr
      6,304 SF

      Overtown Office Space for Lease

      Miami Office: Creative & Modern
      937 3Rd Ave, Miami, FL 33136
      View Details
    • $120 SF/Yr
      3,000 SF

      Restaurant Space in Millecento Building

      Second-generation restaurant space in Miami's financial and entertainment hub.
      1100 S Miami Ave, Miami, FL 33136
      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.
    1651 3rd Ave
    Miami, FL 33136-1823
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.