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Property profile & analytics
OFF-MARKET
Estimated value
$12,370,000
Retail properties & Spaces
1675 Meridian Ave Miami Beach, FL 33139-2842
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-3440763
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1953
Construction
CONCRETE
Total area
102,009 SF
Lot
1.15 ac (49,938 SF)
Zoning code
6600:COMMERCIAL,LIBERAL
APN
02-3234-007-0530
UPID
US18-3440763
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.18M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$12.37M
Owner & transaction history
Sobe Park LLC · 3 yrs held
Sobe Park LLC
since 2022
Last sale
$15.5M
7 recorded transactions
Zoning & alternative use
6600:COMMERCIAL,LIBERAL · Miami Beach, FL
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 Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Miami Beach 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
$14,415,000
ML approach
$10,180,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$12.37M
Range $11.13M – $13.61M · ±10% · vs last sale $15.50M (Sep 2 2022)
Last sale anchor
$15.50M
Sep 2 2022
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
$121 / 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
$332,176
Tax year 2023
Assessed value
$20,075,200
Assessed 2023
Previous assessed
$20,075,200
+0.0% YoY
Effective rate
1.65%
On assessed value
Assessed land
$19,975,200
Assessed improvement
$100,000
Land market value
$19,975,200
Improvement market value
$100,000
Total market value
$20,075,200
Applied tax rate
200.0000
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1953
Construction
CONCRETE
Heating
NONE
Cooling
AC.CHILLED WATER
Stories
1
Total area
102,009 SF
Lot
1.15 ac (49,938 SF)
Zoning code
6600:COMMERCIAL,LIBERAL
APN
02-3234-007-0530
UPID
US18-3440763
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6600:COMMERCIAL,LIBERAL · Miami Beach, FLZoning 6600:COMMERCIAL,LIBERAL · permitted uses
6600:COMMERCIAL,LIBERAL · Miami Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Zoning Ordinance
Building & site characteristics
From public records
Year built
1953
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
1.15 ac
Current owner
From public records · entity-resolved
Sobe Park LLC
Entity
Mailing address
1065 KANE CONCOURSE STE #200, BAY HARBOR ISLANDS, FL 33154-2100
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 2, 2022
$15,500,000
Sobe Park LLC
1675 Meridian Ave LLC
Special Warranty Deed
$9,300,000 · 1675 Meridian Ave LLC
Nov 8, 2021
—
1675 Meridian Ave LLC
Terry Emanuel
Quit Claim Deed
related
—
Sep 30, 2021
—
1675 Meridian Aye LLC
Julian P Emanuel
Quit Claim Deed
related
—
Sep 15, 2021
—
1675 Meridian Ave LLC
Natalie King
Quit Claim Deed
related
—
Sep 9, 2021
—
1675 Meridian Ave LLC
Kelley Powell
Quit Claim Deed
related
—
Sep 28, 2018
$100
Azuz,louise E Trust
Azuz Louise E
Grant Deed
related
—
May 23, 2018
—
Ralph Azuz
Azuz,ralph
Quit Claim Deed
related
—
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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