Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1880 23rd St Miami, FL 33142-7533

    • Industrial land
    • 3,312 SF
    • 0.46 lot acres
    OFF-MARKET
    Last Sale
    Jun 03, 2021
    $1,225,000
    Value Estimations
    $1,215,000
    Show details
    Cap Rate Potential
    2.9%
    Industrial land
    Location Intelligence
    Property ID
    US18-5486290
    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

    • Industrial land

    Property Details for 1880 23rd St

    Year built
    1949
    Construction
    CONCRETE
    Lot size
    0.46 lot acres
    Property size
    3,312 SF
    Zone code
    7000:INDUSTRIAL,GENERAL
    Property type
    Industrial land
    APN
    01-3127-039-0270
    APU
    131270390270

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,515,000
      ML approach
      $1,575,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,073,000
      Market price range: $426k - $1.07M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $770,000
      Current use
      COMMERCIAL (GENERAL)
      $1,525,000
      Change: +98% Conversion: Difficult
      MEDICAL BUILDING
      $1,455,000
      Change: +89% Conversion: Difficult
      RETAIL STORES
      $975,000
      Change: +27% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $940,000
      Change: +22% Conversion: Difficult
      WAREHOUSE, STORAGE
      $785,000
      Change: +2% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2272
    Latitude
    25.7981
    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
    $21,115
    $1,007,900
    $19,258
    $1,027,158
    -
    $1,007,900
    $19,258
    $1,027,158

    Comparable in this City

    • Value Estimation by Request
      0.06 Acres

      Hialeah, FL 33142

      INDUSTRIAL - VACANT LAND • 0.06 Acres
      Hialeah, FL 33142
      View Details
    • Value Estimation by Request
      0.35 Acres

      Hialeah, FL 33142

      INDUSTRIAL - VACANT LAND • 0.35 Acres
      Hialeah, FL 33142
      View Details
    • Value Estimation by Request
      0.46 Acres

      4001 29th St

      INDUSTRIAL - VACANT LAND • 0.46 Acres
      4001 29th St, Miami, FL 33142-5615
      View Details
    • Value Estimation by Request
      0.06 Acres

      1565 22nd St

      INDUSTRIAL - VACANT LAND • 0.06 Acres
      1565 22nd St, Miami, FL 33142-7413
      View Details
    • Value Estimation by Request
      0.06 Acres

      1545 22nd St

      INDUSTRIAL - VACANT LAND • 0.06 Acres
      1545 22nd St, Miami, FL 33142
      View Details
    • Value Estimation by Request
      0.34 Acres

      1255 22nd St

      INDUSTRIAL - VACANT LAND • 0.34 Acres
      1255 22nd St, Miami, FL 33142
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Allapattah Industrial Zoned Land

      7,300 SF industrial land in Allapattah, Miami.
      2110 NW 22Nd Ct, Miami, FL 33142
      View Details
    • Contact for pricing

      Warehouse and Land in Hialeah

      Warehouse with industrial land, offices, and convenient access.
      5790 NW 35Th Ave, Hialeah, FL 33142
      View Details
    • Contact for pricing

      Warehouse and Industrial Land Available

      Warehouse building plus industrial land near Miami International Airport.
      5790 Nw 35Th Ave, Miami, FL 33142
      View Details
    • $1,250,000
      0.16 Acres

      Shovel-Ready Development Opportunity in Allapattah

      Permitted 20-unit development site in Miami's rapidly growing Allapattah.
      1872 NW 24Th St, Miami, FL 33142
      View Details
    • $450,000
      0.13 Acres

      Miami Corner Lot Development Opportunity

      5,822 sq. ft. corner lot zoned for mixed-use development.
      2226 NW 46Th St, Miami, FL 33142
      View Details
    • $690,000

      Allapattah Land Assemblage

      Prime Miami location, development potential.
      4120 17Th Ave, Miami, FL 33142
      View Details

    Similar Nearby for Lease

    • $0.37 SF/Yr
      27,275 SF

      Miami Industrial Lot - 0.62 Acres

      Fenced industrial lot, multi-use potential.
      4310 35Th Ave, Miami, FL 33142
      View Details
    • Contact for pricing
      68,389 SF

      Airport East Miami Corner Lot

      1.57-Acre Commercial Land, Prime Location
      3170 36Th St, Miami, FL 33142
      View Details
    • $13 SF/Yr

      Hialeah Warehouse with Industrial Land

      Warehouse with industrial land, offices, kitchen, and convenient access.
      5790 NW 35Th Ave, Hialeah, FL 33142
      View Details
    • $7,500 /Mo

      Paved and Fenced Yard For Lease

      8,100 SF paved, fenced yard with IU-1 zoning.
      3635 NW 46Th St, Miami, FL 33142
      View Details
    • $6 SF/Yr

      Commercial Lot with Warehouse

      33,541 SF commercial lot with 861 SF warehouse.
      4647 NW 17Th Ave, Miami, FL 33142
      View Details
    • $25 SF/Yr
      5,346 SF

      Miami Retail Space: 4100 NW 17th Ave

      High-Visibility Retail Opportunity
      4100 17Th Ave, Miami, FL 33142
      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.
    1880 23rd St
    Miami, FL 33142-7533
    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.
    Sign Up Successful!
    You now have access to more from Realmo!