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    16700 27th Ave Miami Gardens, FL 33056-4402
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    Property profile & analytics

    16700 27th Ave, Miami Gardens, FL 33056-4402

    View on Map
    • Outlet malls
    • 1,410 SF
    • 0.26 lot acres
    Off-Market
    Last Sale Aug 27, 2024
    $900,000
    Property ID
    US19-0612525
    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.
    Value Estimations
    $675,000
    Show details
    Cap Rate Potential
    5.3%
    Outlet malls
    Location Intelligence

    Current Use by Public Records

    • Outlet malls

    Property Details for 16700 27th Ave

    Year built
    1958
    Construction
    CONCRETE
    Lot size
    0.26 lot acres
    Zone code
    6500:COMMERCIAL,CLASSIF
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    34-2109-006-0510
    APU
    3421090060510

    Description

    This exceptional mixed-use property, located at 16700 NW 27th Ave in Miami Gardens, Florida, presents a compelling investment opportunity. Built in 1958, this single-story building boasts a prominent corner location on Palmetto Avenue, within a major intersection. The substantial 11,000+ square foot lot provides ample parking and significant redevelopment potential. Its strategic location within a designated Opportunity Zone offers attractive tax advantages for eligible investors seeking to contribute to economic development. The property's high visibility is further enhanced by a prior contract for billboard advertisement installation. The existing building offers versatility for a variety of uses, aligning perfectly with the Miami Gardens Planned Corridor Development. The seller is highly motivated, and financing options are available, making this an ideal acquisition for discerning investors. The asking price is $1,150,000. This is a rare chance to acquire a substantial property in a rapidly growing area with significant upside potential. The property's size and location make it suitable for a wide range of commercial ventures. Don't miss this opportunity to capitalize on the vibrant Miami Gardens market. The zip code is 33056.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $715,000
      Current use
      COMMERCIAL (GENERAL)
      $950,000
      Change: +33% Conversion: Easy
      OFFICE BUILDING
      $915,000
      Change: +28% Conversion: Easy
      AUTO REPAIR, GARAGE
      $890,000
      Change: +24% Conversion: Difficult
      MEDICAL BUILDING
      $620,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami Gardens
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.245
    Latitude
    25.9269
    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
    $13,590
    $283,122
    $291,878
    $575,000
    -
    $283,122
    $291,878
    $575,000

    Comparable in this City

    • Value Estimation
      $3,085,000
      8,836 SF

      1700 183rd St

      WHOLESALE OUTLET, DISCOUNT STORE
      1700 183rd St, Miami Gardens, FL 33056-3855
      View Details
    • Value Estimation
      $1,935,000
      14,122 SF

      19300 27th Ave

      WHOLESALE OUTLET, DISCOUNT STORE
      19300 27th Ave, Miami Gardens, FL 33056-2555
      View Details
    • Value Estimation
      $2,820,000
      11,110 SF

      18115 27th Ave

      WHOLESALE OUTLET, DISCOUNT STORE
      18115 27th Ave, Miami Gardens, FL 33056-3508
      View Details
    • Value Estimation
      $530,000
      2,020 SF

      2510 187th St

      WHOLESALE OUTLET, DISCOUNT STORE
      2510 187th St, Miami Gardens, FL 33056-3171
      View Details
    • Value Estimation
      $8,530,000
      27,467 SF

      19701 37th Ave

      WHOLESALE OUTLET, DISCOUNT STORE
      19701 37th Ave, Miami Gardens, FL 33056-2250
      View Details
    • Value Estimation
      $1,720,000
      6,320 SF

      17940 27th Ave

      WHOLESALE OUTLET, DISCOUNT STORE
      17940 27th Ave, Miami Gardens, FL 33056-3505
      View Details

    Similar Nearby for Sale

    • $2,500,000

      Miami Gardens Shopping Center For Sale

      5,500 SF shopping center on 0.610-acre lot.
      2675 NW 207 Ter, Miami Gardens, FL 33056
      View Details
    • Contact for pricing
      8,320 SF

      Family Dollar NNN Investment Opportunity

      NNN Family Dollar in Miami Gardens with zero landlord responsibilities.
      3465 NW 183Rd St, Miami Gardens, FL 33056
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    • $1,650,000
      0.53 Acres

      Prime Retail Land, High Visibility

      23,100 SF commercial land with high traffic and visibility.
      17010 NW 27Th Ave, Miami Gardens, FL 33056
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,500 SF

      High-Traffic Retail Space Available

      Retail space in Miami Gardens with high traffic and co-tenancy.
      17165-17237 NW 27Th Ave, Miami Gardens, FL 33056
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space in Miami Gardens

      Retail space available for lease in Miami Gardens, Florida.
      18051 Nw 27Th Ave, Miami Gardens, FL 33056
      View Details
    • Contact for pricing

      Retail Space in Miami Gardens

      Retail space available in a prime Miami Gardens location.
      3251 NW 183Rd St, Miami Gardens, FL 33056
      View Details
    • Contact for pricing

      Retail/Office Space For Rent

      Retail/Office space available in Miami Gardens near Dolphin Stadium.
      17560 NW 27Th Ave, Miami Gardens, FL 33056
      View Details
    • Contact for pricing

      Miami Gardens Commercial Space Available

      Commercial space suitable for various businesses and offices.
      3251 NW 183Rd St, Miami Gardens, FL 33056
      View Details
    • Contact for pricing

      Restaurant or Retail Space Available

      Excellent location suitable for bakery or fast food restaurant.
      17560 NW 27Th Ave, Miami Gardens, FL 33056
      View Details
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    Miami Gardens, FL 33056-4402
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    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
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