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Property profile & analytics
OFF-MARKET
Estimated value
$2,210,000
Banks
16800 Old Cutler Rd Palmetto Bay, FL 33157-4855
Entity Owned
5-yr Hold
Free & Clear
Property ID
US18-9882436
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1988
Construction
CONCRETE
Total area
4,195 SF
Lot
0.52 ac (22,500 SF)
Zoning code
6200:COMMERCIAL,ARTERIAL
APN
33-5035-001-0011
UPID
US18-9882436
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
$2.40M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.35M
Blend (final)
Blend
$2.21M
Owner & transaction history
Grec Pinecrest LLC · 5 yrs held
Grec Pinecrest LLC
since 2021
Last sale
$2.0M
5 recorded transactions
Zoning & alternative use
6200:COMMERCIAL,ARTERIAL · Palmetto Bay, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.1M
+12.3%
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 Palmetto Bay submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palmetto Bay 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
$2,305,000
ML approach
$2,395,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$2,760,000
Current use
COMMERCIAL (GENERAL)
$3,100,000
Change: +12% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,745,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$2.21M
Range $1.99M – $2.43M · ±10% · vs last sale $2.00M (Jun 11 2021)
Last sale anchor
$2.00M
Jun 11 2021
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
$527 / 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
$28,867
Tax year 2023
Assessed value
$1,650,000
Assessed 2023
Previous assessed
$2,000,000
-17.5% YoY
Effective rate
1.75%
On assessed value
Assessed land
$675,000
Assessed improvement
$975,000
Land market value
$675,000
Improvement market value
$975,000
Total market value
$1,650,000
Applied tax rate
3,300.0000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1988
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Bathrooms
2
Total area
4,195 SF
Lot
0.52 ac (22,500 SF)
Zoning code
6200:COMMERCIAL,ARTERIAL
APN
33-5035-001-0011
UPID
US18-9882436
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6200:COMMERCIAL,ARTERIAL · Palmetto Bay, FLZoning 6200:COMMERCIAL,ARTERIAL · permitted uses
6200:COMMERCIAL,ARTERIAL · Palmetto Bay, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$3.1M
AUTO REPAIR, GARAGE
Est. value
$2.7M
FINANCIAL BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1988
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Bathrooms
2
Lot
0.52 ac
Current owner
From public records · entity-resolved
Grec Pinecrest LLC
Entity
Free & Clear · 5 yrs held
Mailing address
5975 SUNSET DR, SOUTH MIAMI, FL 33143-5166
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 11, 2021
$2,000,000
Grec Pinecrest LLC
Bancorita LLC
Warranty Deed
—
Oct 2, 2017
$2,750,000
Bancorita LLC
Gb Tampa Holdings LLC
Grant Deed
$5,000,000 · Iberiabank
May 15, 2008
$2,348,600
Gb Tampa Holdings LLC
Cb Portfolio Landlord LLC
Grant Deed
$1,700,000 · Ocean Bank
Aug 2, 2007
$2,096,400
Cb Portfolio Landlord LLC
Colonial Bank NA
Warranty Deed
—
—
—
Gb Tampa Holdings LLC
—
Deed Of Trust
related
$2,100,000 · Ocean Bk
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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