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Property profile & analytics
OFF-MARKET
Estimated value
$8,400,000
Office buildings
1681 79th St Cswy North Bay Village, FL 33141-4106
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US18-6163619
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1961
Construction
CONCRETE
Total area
18,758 SF
Lot
0.36 ac (15,750 SF)
Zoning code
6000:COMMERCIAL,GENERAL
APN
23-3209-000-0090
UPID
US18-6163619
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
$5.95M
CAP Approach
CAP
$8.83M
Comparable Approach
Comparable
$10.77M
Blend (final)
Blend
$8.40M
Owner & transaction history
Mg Prosper Nbv LLC · 1 yrs held
Mg Prosper Nbv LLC
since 2024
Last sale
$11.5M
7 recorded transactions
Zoning & alternative use
6000:COMMERCIAL,GENERAL · North Bay Village, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$13.9M
+8.7%
Commercial (general)
$13.9M
+8.4%
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 North Bay Village submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Bay Village 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
$6,510,000
ML approach
$5,945,000
CAP Approach
CAP Return
Estimation
6%
$9,565,000
6.5%
$8,830,000
7%
$8,200,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$12,795,000
Current use
RESTAURANT
$13,910,000
Change: +9% · Conversion: Moderate
COMMERCIAL (GENERAL)
$13,870,000
Change: +8% · Conversion: Easy
AUTO REPAIR, GARAGE
$12,265,000
Change: -4% · Conversion: Difficult
RETAIL STORES
$10,585,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$8.40M
Range $7.56M – $9.24M · ±10% · vs last sale $11.50M (Jul 21 2024)
Last sale anchor
$11.50M
Jul 21 2024
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
$448 / 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
$100,994
Tax year 2023
Assessed value
$4,578,027
Assessed 2023
Previous assessed
$4,171,380
+9.7% YoY
Effective rate
2.21%
On assessed value
Assessed land
$3,150,000
Assessed improvement
$1,428,027
Land market value
$3,150,000
Improvement market value
$1,428,027
Total market value
$4,578,027
Applied tax rate
2,300.0000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1961
Construction
CONCRETE
Heating
NONE
Cooling
AC.CHILLED WATER
Stories
2
Bathrooms
6
Total area
18,758 SF
Lot
0.36 ac (15,750 SF)
Zoning code
6000:COMMERCIAL,GENERAL
APN
23-3209-000-0090
UPID
US18-6163619
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6000:COMMERCIAL,GENERAL · North Bay Village, FLZoning 6000:COMMERCIAL,GENERAL · permitted uses
6000:COMMERCIAL,GENERAL · North Bay Village, 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
OFFICE BUILDING Current
Est. value
$12.8M
RESTAURANT
Est. value
$13.9M
COMMERCIAL (GENERAL)
Est. value
$13.9M
AUTO REPAIR, GARAGE
Est. value
$12.3M
RETAIL STORES
Est. value
$10.6M
OFFICE BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
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
1961
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Bathrooms
6
Lot
0.36 ac
Current owner
From public records · entity-resolved
Mg Prosper Nbv LLC
Entity
Mailing address
3315 COLLINS AVE APT 4B, MIAMI BEACH, FL 33140-4173
Ownership since
2024
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
Oct 21, 2024
$11,500,000
Mg Prosper Nbv LLC
1681 North Bay Village LLC
Special Warranty Deed
$21,600,000 · Rmwc Vb Lending LLC
Jun 14, 2022
$7,000,000
1681 North Bay Village LLC
Leaseflorida Of Nbv LLC
Special Warranty Deed
—
Mar 18, 2020
—
Atlantic Broadband Miami LLC
Interlink Communications Ptrs
Correction Deed
related
$2,600,000 · Ocean Bk
Mar 24, 2011
—
Atlantic Broadband Miami LLC
—
Deed Of Trust
related
$4,500,000 · Credit Suisse Ag
Mar 11, 2004
$1,170,000
Atlantic Broadband LLC
Atlantic Broadbank Finance LLC
Grant Deed
related
$1,169,675 · Societe Generale
Jun 5, 2000
$950,000
Interlink Communications Partn
National Inv & Dev Corp
Grant Deed
—
—
—
Leaseflorida Of Nbv LLC
—
Deed Of Trust
related
$2,600,000 · 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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