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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    17031 21 Ave North Miami Beach, FL 33162

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-7929451
    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

    • Commercial real estate

    Property Details for 17031 21 Ave

    Year built
    1961
    Property type
    Commercial real estate

    Description

    This exceptional 16-unit multifamily property, located at 17031 NE 21st Ave in North Miami Beach, Florida, presents a compelling investment opportunity. Built in 1961, this two-story garden-style building offers a mix of one- and two-bedroom units, each equipped with ceramic and vinyl flooring, electric appliances, and wall air conditioning. Residents enjoy convenient amenities including an on-site laundry room and a fenced-in swimming pool. The building has recently undergone a fresh coat of paint, enhancing its curb appeal. Importantly, the City of North Miami Beach has completed building recertification, ensuring structural and electrical safety until 2031. This property benefits from its location in a thriving North Miami Beach neighborhood experiencing significant growth. Its proximity to shopping centers, diverse restaurants, beautiful beaches, recreational parks, I-95, major airports, places of worship, and the Brightline train station provides unparalleled convenience and accessibility. The asking price for this well-maintained and strategically positioned multifamily investment is $3,600,000. This represents a strong opportunity to capitalize on the continued growth and desirability of this vibrant area. The property's strong rental income potential, coupled with its recent upgrades and favorable location, makes it an attractive investment for discerning buyers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    North Miami Beach
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.1579288
    Latitude
    25.9327248

    Comparable in this City

    • Contact for pricing
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      Active 55+ Community Co-op

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      North Miami Beach Furnished Unit

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      Cozy Unit with Garden View

      Second-floor unit featuring a spacious living room and master bedroom.
      17001 NE 13Th Ave, Miami, FL 33162
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      North Miami Beach Four-Plex

      Four one-bedroom units with upgrades in North Miami Beach.
      16031 NE 19Th Pl, North Miami Beach, FL 33162
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    Similar Nearby for Sale

    • Contact for pricing
      440,000 SF

      North Miami Beach Multifamily Redevelopment

      380-unit complex, prime location, high occupancy.
      0 163 St, North Miami Beach, FL 33162
      View Details
    • $82,000

      Active 55+ Community Co-op

      Furnished one-bedroom, one-bath co-op in a 55+ community.
      15600 NE 6Th Ave, Miami, FL 33162
      View Details
    • $110,000

      North Miami Beach Furnished Unit

      Furnished 1 bed, 1 bath unit in 55+ community.
      17090 NE 14Th Ave, Miami, FL 33162
      View Details
    • $73,000

      Furnished Condo Near Aventura Mall

      Updated, move-in ready condo with resort-style amenities near the beach.
      17050 NE 14Th Ave, Miami, FL 33162
      View Details
    • $58,000

      Cozy Unit with Garden View

      Second-floor unit featuring a spacious living room and master bedroom.
      17001 NE 13Th Ave, Miami, FL 33162
      View Details
    • $1,150,000

      North Miami Beach Four-Plex

      Four one-bedroom units with upgrades in North Miami Beach.
      16031 NE 19Th Pl, North Miami Beach, FL 33162
      View Details

    Similar Nearby for Lease

    • $2,350 /Mo

      Renovated 2 Bed Apartment

      Spacious, renovated 2 bed, 1 bath apartment with modern amenities.
      2051-2055 NE 167Th St, Miami, FL 33162
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    • $1,700 /Mo

      Renovated Apartment Near Amenities

      Cozy, renovated 1/1 apartment in a convenient location.
      17175 NE 19Th Ave, Miami, FL 33162
      View Details
    • $1,450 /Mo

      North Miami Beach Apartment

      Centrally located 1/1 apartment in North Miami Beach.
      15940 NE 19Th Ct, Miami, FL 33162
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    • $1,870 /Mo

      North Miami Beach Apartment Rental

      One-bedroom apartment near Aventura, beaches, shopping, and entertainment.
      1995 NE 167Th St, Miami, FL 33162
      View Details
    • $1,875 /Mo

      Clean Two-Bedroom Apartment Available

      Clean, tiled 2-bedroom, 1-bath unit near major amenities.
      1180 NE 160Th Ter, Miami, FL 33162
      View Details
    • $2,200 /Mo

      Furnished Apartment Near Beach

      Furnished 2-bed apartment with included utilities near beach.
      17001 NE 20Th Ave, Miami, FL 33162
      View Details
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    17031 21 Ave
    North Miami Beach, FL 33162
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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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