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Property profile & analytics
OFF-MARKET
Estimated value
$725,000
Outlet malls
1690 123rd St North Miami, FL 33181-2701
Entity Owned
3-yr Hold
Free & Clear
Property ID
US18-0086704
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1964
Construction
CONCRETE
Total area
1,325 SF
Lot
0.06 ac (2,700 SF)
Zoning code
6201:COMMERCIAL
APN
06-2228-001-0560
UPID
US18-0086704
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
$795k
CAP Approach
CAP
$665k
Comparable Approach
Comparable
$580k
Blend (final)
Blend
$725k
Owner & transaction history
Levak Investments LLC · 3 yrs held
Levak Investments LLC
since 2022
Last sale
$800,000
7 recorded transactions
Zoning & alternative use
6201:COMMERCIAL · North Miami, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.0M
+142.8%
Commercial (general)
$980,000
+128.1%
Auto repair, garage
$865,000
+101.8%
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 Miami submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Miami 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
$695,000
ML approach
$795,000
CAP Approach
CAP Return
Estimation
6%
$720,000
6.5%
$665,000
7%
$620,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,040,000
Change: +143% · Conversion: Easy
COMMERCIAL (GENERAL)
$980,000
Change: +128% · Conversion: Easy
AUTO REPAIR, GARAGE
$865,000
Change: +102% · Conversion: Difficult
MEDICAL BUILDING
$580,000
Change: +36% · Conversion: Difficult
Blend value · Realmo final
$725k
Range $653k – $798k · ±10% · vs last sale $800k (Dec 21 2022)
Last sale anchor
$800k
Dec 21 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
$547 / 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
$13,848
Tax year 2023
Assessed value
$622,000
Assessed 2023
Previous assessed
$206,963
+200.5% YoY
Effective rate
2.23%
On assessed value
Assessed land
$202,500
Assessed improvement
$419,500
Land market value
$202,500
Improvement market value
$419,500
Total market value
$622,000
Applied tax rate
600.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1964
Construction
CONCRETE
Heating
NONE
Stories
1
Total area
1,325 SF
Lot
0.06 ac (2,700 SF)
Zoning code
6201:COMMERCIAL
APN
06-2228-001-0560
UPID
US18-0086704
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6201:COMMERCIAL · North Miami, FL
Zoning 6201:COMMERCIAL · permitted uses
6201:COMMERCIAL · North Miami, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Miami. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$980,000
AUTO REPAIR, GARAGE
Est. value
$865,000
MEDICAL BUILDING
Est. value
$580,000
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1964
Construction
CONCRETE
Heating
NONE
Stories
1
Lot
0.06 ac
Current owner
From public records · entity-resolved
Levak Investments LLC
Entity
Free & Clear · 3 yrs held
Mailing address
9429 HARDING AVE #282, SURFSIDE, FL 33154-2803
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
Dec 21, 2022
$800,000
Levak Investments LLC
Lloret Holdings INC
Warranty Deed
—
Mar 31, 2021
—
Lloret Holdings INC
Cynthia C Ordaz
Quit Claim Deed
related
—
Feb 8, 2016
—
Cynthia E Ordaz
Ordaz,cynthia E
Quit Claim Deed
related
—
Mar 13, 2008
—
Ymll Trust
Lloret Holdings INC
Quit Claim Deed
related
—
Jul 19, 2007
—
Lloret Holdings INC
Lloret,yolanda M
Quit Claim Deed
related
—
Sep 20, 2006
—
Lloret Holdings INC
Lloret,yolanda M
Quit Claim Deed
related
—
Oct 12, 2005
$380,000
Yolanda M Lloret
Tuvia Corp
Warranty Deed
—
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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