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    Property profile & analytics

    1693 97 Ave Doral, FL 33172

    • Manufacturing properties
    • 2,415 SF
    For Sale
    View listing
    $1,200,000
    Last Sale
    Jan 17, 2023
    $812,500
    Value Estimations
    Cap Rate Potential
    4%
    Manufacturing properties
    Location Intelligence
    Property ID
    US18-3249198
    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

    • K & B Home Furnishing Outlet / Furniture Store
    • 305 Luxury Detailing / Ceramics Wholesaler / Car Detailing Service
    • 305 Luxury / Digital Printing Service / Sign Shop
    • Tire express / Tire Shop

    Property Details for 1693 97 Ave

    Year built
    2003
    Property size
    2,415 SF
    Zone code
    7700:INDUSTRIAL,RESTRICT
    Property type
    Manufacturing properties
    APN
    35-3033-052-0050
    APU
    3530330520050

    Description

    This exceptional Class A warehouse, located at 1693 NW 97th Ave #5 in Doral, Florida, offers 2,886 square feet of versatile space, perfect for a variety of industrial or retail uses. Built in 2003, this single-story building features a 20-foot ceiling height, one loading dock, and four assigned parking spaces. The property boasts a concrete mezzanine adding approximately 636 square feet of additional space. High-impact windows and doors enhance security and natural light. The unit's strategic corner location provides excellent ventilation with doors on three sides. Zoned 7700, the property is suitable for light manufacturing. Its prime location on a busy Doral road offers exceptional visibility and accessibility, situated approximately 1.5 miles from major highways including the 836, 826, and Florida Turnpike. The asking price is $1,200,000, with a pro-forma NOI of $6,000 and a pro-forma cap rate of 0.50%. The property is available immediately and is suitable for a 1031 exchange. This is a rare opportunity to acquire a well-maintained, strategically located warehouse in a thriving area of Doral. The property includes one restroom and an office/storage room. Previous tenant utilized the space for automotive window film installation and related services.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $815,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $540,000
      6.5%
      $500,000
      7%
      $465,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $846,000
      Market price range: $627k - $1.01M
      AI Estimate
      $679,000
      Market price range: $318k - $945k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $775,000
      Current use
      MEDICAL BUILDING
      $1,060,000
      Change: +37% Conversion: Difficult
      OFFICE BUILDING
      $985,000
      Change: +27% Conversion: Difficult
      WAREHOUSE, STORAGE
      $750,000
      Change: -3% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $685,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Doral
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.3524
    Latitude
    25.7882
    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
    $8,811
    $0.00
    $0.00
    $639,975
    -
    $0.00
    $0.00
    $639,975

    Comparable in this City

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    • Value Estimation by Request
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      10832 27th St

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      10441 28th St Ste A107

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      10775 21st St, Unit 109

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      10775 21st St, Sweetwater, FL 33172-2009
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    • Value Estimation
      $820,000
      20,615 SF

      9730 25th St

      MANUFACTURING (LIGHT) • 20,615 SF
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    Similar Nearby for Lease

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      20,000 SF

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    1693 97 Ave
    Doral, FL 33172
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    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
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