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Property profile & analytics
OFF-MARKET
Estimated value
$5,835,000
Warehouses
1880 123rd St North Miami, FL 33181-2801
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US18-4349149
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2022
Construction
CONCRETE
Total area
128,310 SF
Lot
0.78 ac (33,950 SF)
Zoning code
3700:MULTI-FAM,10-21 U/A
APN
06-2228-002-0020
UPID
US18-4349149
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.72M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.06M
Blend (final)
Blend
$5.84M
Owner & transaction history
Cubesmart LP
Cubesmart LP
since 2025
Last sale
$3.8M
7 recorded transactions
Zoning & alternative use
3700:MULTI-FAM,10-21 U/A · North 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 North Miami submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North 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
$6,765,000
ML approach
$6,720,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$5.84M
Range $5.25M – $6.42M · ±10% · vs last sale $3.81M (Nov 6 2020)
Last sale anchor
$3.81M
Nov 6 2020
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
$45 / 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
$467,475
Tax year 2023
Assessed value
$20,997,000
Assessed 2023
Previous assessed
$1,188,250
+1,667.1% YoY
Effective rate
2.23%
On assessed value
Assessed land
$1,188,250
Assessed improvement
$19,808,750
Land market value
$1,188,250
Improvement market value
$19,808,750
Total market value
$20,997,000
Applied tax rate
600.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2022
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
5
Bathrooms
40
Total area
128,310 SF
Lot
0.78 ac (33,950 SF)
Zoning code
3700:MULTI-FAM,10-21 U/A
APN
06-2228-002-0020
UPID
US18-4349149
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
3700:MULTI-FAM,10-21 U/A · North Miami, FL
Zoning 3700:MULTI-FAM,10-21 U/A · permitted uses
3700:MULTI-FAM,10-21 U/A · North Miami, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Miami. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2022
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
5
Bathrooms
40
Lot
0.78 ac
Current owner
From public records · entity-resolved
Cubesmart LP
Entity
Mailing address
5607 GLENRIDGE DR STE #200, ATLANTA, GA 30342-7204
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 11, 2025
$31,500,000
Cubesmart LP
Sig Bal Harbour LLC
Special Warranty Deed
—
Nov 6, 2020
$2,860,500
Sig Bal Harbour LLC
1880 Properties LLC
Special Warranty Deed
$9,340,000 · Citizens Bank
Feb 4, 2015
$3,100,000
1880 Properties LLC|tanglewood Assn Group LLC
Beachway Apartments INC
Warranty Deed
—
—
—
Beachway Apartments INC
—
Deed Of Trust
related
$325,000 · Commercial Bank Florida
—
—
Beachway Apartments INC
—
Deed Of Trust
related
$2,550,000 · Community Bank Of Broward
—
—
Beachway Apartments INC
—
Deed Of Trust
related
—
—
—
Beachway Apartments INC
—
Deed Of Trust
related
—
—
—
Beachway Apartments INC
—
Deed Of Trust
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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