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

    16850 23rd Ave North Miami Beach, FL 33160-3740

    • Office buildings
    • 2,263 SF
    • 0.21 lot acres
    OFF-MARKET
    Value Estimations
    $705,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1603483
    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

    • Office buildings

    Property Details for 16850 23rd Ave

    Year built
    1954
    Construction
    CONCRETE
    Lot size
    0.21 lot acres
    Property size
    2,263 SF
    Zone code
    3800:MULTI-FAM,22-37 U/A
    Property type
    Office buildings
    APN
    07-2209-001-0220
    APU
    722090010220

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $967,000
      Market price range: $749k - $2.98M

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

    Location Insight

    • Map
    • Local Demand
    City
    North Miami Beach
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1558
    Latitude
    25.9317
    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
    $8,226
    $360,000
    $122,341
    $482,341
    -
    $360,000
    $122,341
    $482,341

    Comparable in this City

    • Value Estimation
      $1,425,000
      3,887 SF

      18600 Collins Ave

      OFFICE BUILDING • 3,887 SF
      18600 Collins Ave, Sunny Isles Beach, FL 33160-2426
      View Details
    • Value Estimation by Request
      707 SF

      17501 Biscayne Blvd, Unit 3G

      OFFICE BUILDING (MULTI-STORY) • 707 SF
      17501 Biscayne Blvd, Aventura, FL 33160-4802
      View Details
    • Value Estimation
      $850,000
      1,310 SF

      17501 Biscayne Blvd, Unit 4H

      OFFICE BUILDING (MULTI-STORY) • 1,310 SF
      17501 Biscayne Blvd, Aventura, FL 33160-4802
      View Details
    • Value Estimation
      $810,000
      1,255 SF

      17501 Biscayne Blvd, Unit 3F

      OFFICE BUILDING (MULTI-STORY) • 1,255 SF
      17501 Biscayne Blvd, Aventura, FL 33160-4802
      View Details
    • Value Estimation
      $735,000
      1,326 SF

      3363 163rd St Ste, Unit 709

      OFFICE BUILDING (MULTI-STORY) • 1,326 SF
      3363 163rd St Ste, North Miami Beach, FL 33160-4438
      View Details
    • Value Estimation by Request
      848 SF

      3363 163rd St Ste, Unit 808

      OFFICE BUILDING (MULTI-STORY) • 848 SF
      3363 163rd St Ste, North Miami Beach, FL 33160-4438
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Open Concept Space For Sale

      Open concept space ideal for retail, wellness, or creative office.
      18315 W Dixie Hwy, North Miami Beach, FL 33160
      View Details
    • Contact for pricing

      Medical Spa Offices For Rent

      High-end medical spa offices with existing client base.
      17070 Collins Ave, Miami, FL 33160
      View Details
    • Contact for pricing

      Professional Office Space in Sunny Isles

      200 Sqft office space in a prime Sunny Isles location.
      19370 Collins Ave, Sunny Isles Beach, FL 33160
      View Details
    • Contact for pricing

      Aventura Office Suite on Biscayne

      Centrally located Aventura office suite in Bank of America building.
      18305 Biscayne Blvd, Aventura, FL 33160
      View Details
    • Contact for pricing
      1,200 SF

      Turnkey Space in Sunny Isles

      Collins Avenue retail/office space in upscale Sunny Isles Beach, FL.
      17100 Collins Ave, Sunny Isles Beach, FL 33160
      View Details
    • $455,000
      1,005 SF

      OCEANVIEW BUILDING B COND

      Multifamily properties • 1,005 SF
      19380 Collins Ave, Sunny Isles Beach, FL 33160
      View Details

    Similar Nearby for Lease

    • $16,800 /Mo
      240 SF

      Sunny Isles Beach Office Space

      120 sq ft Office Suite, Sunny Isles Beach
      17070 Collins Ave, Sunny Isles Beach, FL 33160
      View Details
    • $30 SF/Yr
      585,786 SF

      Intracoastal Mall

      Restaurants • 585,786 SF
      3881 163 St, North Miami Beach, FL 33160
      View Details
    • $0.01 SF/Yr
      35,000 SF

      Aventura Office Space for Lease

      Prime Aventura Office, 3898 sq ft
      18305 Biscayne Blvd, Aventura, FL 33160
      View Details
    • $1,200 /Mo

      Sunny Isles Beach Office Space

      200 Sqft office space in a prime Sunny Isles location.
      19370 Collins Ave, Sunny Isles Beach, FL 33160
      View Details
    • $0.02 SF/Yr
      50,000 SF

      Aventura Medical Office Space

      Class A Office, 50,000 sq ft, prime location.
      21290 Biscayne Blvd, North Miami Beach, FL 33160
      View Details
    • $80 SF/Yr
      12,143 SF

      323 Sunny Is Blvd

      Office space • 12,143 SF
      323 Sunny Is Blvd, Sunny Isles Beach, FL 33160
      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.
    16850 23rd Ave
    North Miami Beach, FL 33160-3740
    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.