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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Office buildings
1909 168th St North Miami Beach, FL 33162-3115
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-1667000
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1960
Construction
CONCRETE
Total area
1,200 SF
Lot
0.06 ac (2,625 SF)
Zoning code
6300:COMMERCIAL,RESTRICT
APN
07-2209-006-1650
UPID
US18-1667000
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$530k
CAP Approach
CAP
$565k
Comparable Approach
Comparable
$523k
Blend (final)
Blend
$535k
Owner & transaction history
Florida Business Development Corpor · 4 yrs held
Florida Business Development Corpor
since 2021
Last sale
$400,000
7 recorded transactions
Zoning & alternative use
6300:COMMERCIAL,RESTRICT · North Miami Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Official NMB Zoning Map
Top alternative use upside
Commercial (general)
$885,000
+124.8%
Auto repair, garage
$785,000
+98.8%
Retail stores
$560,000
+41.9%
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 Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Miami Beach 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
$535,000
ML approach
$530,000
CAP Approach
CAP Return
Estimation
6%
$610,000
6.5%
$565,000
7%
$525,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$395,000
Current use
COMMERCIAL (GENERAL)
$885,000
Change: +125% · Conversion: Easy
AUTO REPAIR, GARAGE
$785,000
Change: +99% · Conversion: Difficult
RETAIL STORES
$560,000
Change: +42% · Conversion: Moderate
MEDICAL BUILDING
$525,000
Change: +34% · Conversion: Easy
WAREHOUSE, STORAGE
$355,000
Change: -10% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$340,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$535k
Range $482k – $589k · ±10% · vs last sale $400k (Sep 15 2021)
Last sale anchor
$400k
Sep 15 2021
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
$446 / 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
$5,534
Tax year 2023
Assessed value
$320,000
Assessed 2023
Previous assessed
$210,000
+52.4% YoY
Effective rate
1.73%
On assessed value
Assessed land
$78,750
Assessed improvement
$241,250
Land market value
$78,750
Improvement market value
$241,250
Total market value
$320,000
Applied tax rate
700.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1960
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
1,200 SF
Lot
0.06 ac (2,625 SF)
Zoning code
6300:COMMERCIAL,RESTRICT
APN
07-2209-006-1650
UPID
US18-1667000
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6300:COMMERCIAL,RESTRICT · North Miami Beach, FLZoning 6300:COMMERCIAL,RESTRICT · permitted uses
6300:COMMERCIAL,RESTRICT · North Miami Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Official NMB Zoning Map
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$395,000
COMMERCIAL (GENERAL)
Est. value
$885,000
AUTO REPAIR, GARAGE
Est. value
$785,000
RETAIL STORES
Est. value
$560,000
MEDICAL BUILDING
Est. value
$525,000
WAREHOUSE, STORAGE
Est. value
$355,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$340,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1960
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.06 ac
Current owner
From public records · entity-resolved
Florida Business Development Corpor
Entity
Mailing address
15554 SW 25TH ST, MIRAMAR, FL 33027-4269
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 20, 2021
—
Florida Business Development Corpor
Cazeau & Associates PLLC
Assignment Of Lease (leasehold Sale)
—
Sep 15, 2021
$400,000
Cazeau Holdings LLC
Acmon Properties LLC
Warranty Deed
$200,000 · Ocean Bank
Dec 19, 2016
$169,500
Acmon Properties LLC
North Miami Beach Business Center L
Warranty Deed
$192,000 · Stonegate Bank
Jul 24, 2015
$198,000
North Miami Bch Busn Center Ll
Lasseter,kenneth C III
Warranty Deed
$98,000 · Kenneth C III Lasseter
Sep 25, 2012
—
Kenneth C Lasseter III
Reel Protection INC
Quit Claim Deed
related
—
Jun 21, 2012
—
Kenneth C Lasseter III
Reel Protection INC
Quit Claim Deed
related
—
Sep 23, 2003
—
Reel Protection INC
Lasseter,kenneth C
Quit Claim Deed
related
—
Sep 27, 2001
$125,000
Kenneth C Lasseter
Tsimbal,victor
Grant Deed
—
Jan 5, 1999
$48,000
Victor Tsimbal
Tran,kevin & Elizabeth
Grant Deed
—
—
—
Reel Protection INC
—
Deed Of Trust
related
$60,000 · Cdc Financial Group INC
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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