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Property profile & analytics
OFF-MARKET
Estimated value
$16,190,000
Outlet malls
173 1st St, Miami, FL 33132-2501
Entity Owned
4-yr Hold
Free & Clear
Property ID
US18-8978276
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1950
Construction
CONCRETE
Total area
29,702 SF
Lot
0.34 ac (15,000 SF)
Zoning code
6401:COMMERCIAL
APN
01-0110-040-1130
UPID
US18-8978276
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
-
Sas Shoes Clothing & Fashion Store (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.26M
CAP Approach
CAP
$14.91M
Comparable Approach
Comparable
$13.89M
Blend (final)
Blend
$16.19M
Owner & transaction history
124 Ne 2nd Avenue Realty LLC · 4 yrs held
124 Ne 2nd Avenue Realty LLC
since 2022
Last sale
$16.9M
2 recorded transactions
Zoning & alternative use
6401:COMMERCIAL · Miami, 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 submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs 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
$18,390,000
ML approach
$10,255,000
CAP Approach
CAP Return
Estimation
6%
$16,150,000
6.5%
$14,910,000
7%
$13,845,000
Blend value · Realmo final
$16.19M
Range $14.57M – $17.81M · ±10% · vs last sale $16.88M (Jan 5 2022)
Last sale anchor
$16.88M
Jan 5 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
$545 / 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
$167,664
Tax year 2023
Assessed value
$11,259,462
Assessed 2023
Previous assessed
$10,509,462
+7.1% YoY
Effective rate
1.49%
On assessed value
Assessed land
$10,500,000
Assessed improvement
$759,462
Land market value
$10,500,000
Improvement market value
$759,462
Total market value
$11,259,462
Applied tax rate
101.0000
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
1950
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
2
Total area
29,702 SF
Lot
0.34 ac (15,000 SF)
Zoning code
6401:COMMERCIAL
APN
01-0110-040-1130
UPID
US18-8978276
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6401:COMMERCIAL · Miami, FL
Zoning 6401:COMMERCIAL · permitted uses
6401:COMMERCIAL · Miami, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Miami. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1950
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Lot
0.34 ac
Current owner
From public records · entity-resolved
124 Ne 2nd Avenue Realty LLC
Entity
Free & Clear · 4 yrs held
Mailing address
19 W FLAGLER ST STE #310, MIAMI, FL 33130-4420
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 26, 2022
—
124 Ne 2nd Avenue Realty LLC
—
Deed
related
$10,715,618 · Centennial Bank
Jan 5, 2022
$16,875,000
124 Ne 2nd Avenue Realty LLC
Sg & S INC
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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