Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1753 Michigan Ave Miami Beach, FL 33139-2416

    • Assisted living facilities
    • 4,056 SF
    • 0.17 lot acres
    OFF-MARKET
    Last Sale
    Feb 05, 2025
    $4,250,000
    Value Estimations
    $4,445,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3720673
    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

    • Assisted living facilities

    Property Details for 1753 Michigan Ave

    Year built
    1938
    Construction
    CONCRETE
    Lot size
    0.17 lot acres
    Property size
    4,056 SF
    Zone code
    0100:SINGLE FAM,GENERAL
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    02-3234-004-0570
    APU
    232340040570

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,640,000
      ML approach
      $4,640,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,385,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami Beach
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1385
    Latitude
    25.7931
    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
    $37,370
    $1,387,500
    $590,100
    $1,977,600
    -
    $1,387,500
    $590,100
    $1,977,600

    Comparable in this City

    • Value Estimation
      $2,065,000
      52,133 SF

      550 9th St

      HOMES (RETIRED, NURSING) • 52,133 SF
      550 9th St, Miami Beach, FL 33139-5722
      View Details
    • Value Estimation
      $14,330,000
      80,778 SF

      42 Collins Ave

      HOMES (RETIRED, NURSING) • 80,778 SF
      42 Collins Ave, Miami Beach, FL 33139-7314
      View Details
    • Value Estimation
      $2,235,000
      2,860 SF

      233 1st St

      MEDICAL BUILDING • 2,860 SF
      233 1st St, Miami Beach, FL 33139-7340
      View Details
    • Value Estimation by Request
      1,889 SF

      1225 Alton Rd

      MEDICAL BUILDING • 1,889 SF
      1225 Alton Rd, Miami Beach, FL 33139-3809
      View Details
    • Value Estimation
      $1,590,000
      11,122 SF

      1200 Alton Rd

      MEDICAL BUILDING • 11,122 SF
      1200 Alton Rd, Miami Beach, FL 33139-3810
      View Details
    • Value Estimation by Request
      1,500 SF

      540 Lincoln Rd

      Restaurants • 1,500 SF
      540 Lincoln Rd, Miami Beach, FL 33139
      View Details

    Similar Nearby for Sale

    • $750,000

      Miami Beach Salon Business Opportunity

      Turnkey salon business with high visibility in Miami Beach.
      1800 Bay Rd, Miami Beach, FL 33139
      View Details
    • $2,994,000
      2,580 SF

      South Beach Condo Assemblage

      6-Unit Condo Redevelopment Opportunity
      441 Collins Ave, Miami Beach, FL 33139
      View Details
    • $17,000,000
      6,790 SF

      South Beach Retail Icon

      Iconic Miami Beach storefront, high-income potential.
      1600 Lenox Ave, Miami Beach, FL 33139
      View Details
    • $5,999,999

      Prime Miami Beach Multifamily

      19-Unit Multifamily, Ocean Drive Proximity
      1345 Pennsylvania Ave, Miami Beach, FL 33139
      View Details
    • $12,990,000

      South Beach Multifamily Investment

      Prime Location, 31 Units, High Occupancy
      1770 Meridian Ave, Miami Beach, FL 33139
      View Details
    • $5,850,000
      6,894 SF

      South Beach Trophy Office Building

      Iconic Miami Beach Office, Prime Location
      530 11 St, Miami Beach, FL 33139
      View Details

    Similar Nearby for Lease

    • $60 SF/Yr
      67,188 SF

      South Beach Office Space for Lease

      Prime South Beach location, multiple suites available
      555 Washington Ave, Miami Beach, FL 33139
      View Details
    • $5 SF/Yr
      6,249 SF

      Miami Beach Office Space for Lease

      Flexible Workspaces in Prime Location
      1688 Meridian Ave, Miami Beach, FL 33139
      View Details
    • $26,000

      Miami Beach Office/Medical/Wellness Space

      Stand-alone office/medical/wellness space in high-traffic Miami Beach location.
      1355 Alton Rd, Miami Beach, FL 33139
      View Details
    • Contact for pricing
      146,327 SF

      Lincoln Road Executive Office Suites

      Prestigious Office Space, Miami Beach
      1111 Lincoln Rd, Miami Beach, FL 33139
      View Details
    • $150 SF/Yr
      1,500 SF

      Lincoln Road Retail Gem

      Prime South Beach retail space, 1500 sq ft.
      540 Lincoln Rd, Miami Beach, FL 33139
      View Details
    • $0.22 SF/Yr
      3,204 SF

      Miami Beach Retail Space For Lease

      Prime West Ave Retail, 3204 SF
      1215 West Ave, Miami Beach, FL 33139
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1753 Michigan Ave
    Miami Beach, FL 33139-2416
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.