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Property profile & analytics
FOR LEASE
Commercial land
1691 Michigan Ave, Miami Beach, FL 33139
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-4518195
For Lease
1 / 2
Contact for pricing
1691 Michigan Ave, Miami Beach, FL 33139
View Listing →
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Lot
1.76 ac (76,500 SF)
Zoning code
6600:COMMERCIAL,LIBERAL
APN
02-3234-004-0690
UPID
US18-4518195
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
$109.25M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$109.25M
Owner & transaction history
Rk Rivani LLC · 2 yrs held
Rk Rivani LLC
since 2024
Last sale
$109.3M
7 recorded transactions
Zoning & alternative use
6600:COMMERCIAL,LIBERAL · Miami Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$109,250,000
ML approach
$109,250,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$109.25M
Range $98.33M – $120.18M · ±10% · vs last sale $109.25M (Apr 17 2024)
Last sale anchor
$109.25M
Apr 17 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
—
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
$225,627
Tax year 2023
Assessed value
$11,940,000
Assessed 2023
Previous assessed
$11,940,000
+0.0% YoY
Effective rate
1.89%
On assessed value
Assessed land
$11,940,000
Land market value
$11,940,000
Total market value
$11,940,000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
For Lease
Heating
NONE
Lot
1.76 ac (76,500 SF)
Zoning code
6600:COMMERCIAL,LIBERAL
APN
02-3234-004-0690
UPID
US18-4518195
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6600:COMMERCIAL,LIBERAL · Miami Beach, FL
Zoning 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
Miami Beach. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Heating
NONE
Lot
1.76 ac
Current owner
From public records · entity-resolved
Rk Rivani LLC
Entity
Free & Clear · 2 yrs held
Mailing address
201 S BISCAYNE BLVD STE #1440, MIAMI, FL 33131-4328
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
Apr 17, 2024
—
Rk Rivani LLC
Clpf-lincoln LLC
Quit Claim Deed
related
—
Apr 15, 2016
—
Clpf-lincoln LLC
1691 Michigan Ave Inv LP
Quit Claim Deed
related
—
Apr 15, 2016
$109,250,000
Clpf-lincoln LLC
1691 Michigan Ave Inv LP
Grant Deed
—
Jul 20, 2006
—
Lincoln Miami Beach Inv LLC
Lincoln LLC
Quit Claim Deed
related
—
Jul 1, 2006
$74,000,000
Lincoln Miami Beach Inv
Owner,record
Grant Deed
related
—
Mar 6, 2001
$750,000
Miami Beach City (fl)
Lnr Jefferson LLC
Grant Deed
related
—
Feb 28, 2001
$750,000
Lnr Jefferson LLC
The Sterling Building INC
Grant 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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