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Property profile & analytics
OFF-MARKET
Estimated value
$710,000
Retail residential properties
1961 8th St Miami, FL 33135-3315
Entity Owned
9-yr Hold
Free & Clear
Property ID
US18-0090664
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1937
Construction
CONCRETE
Total area
2,700 SF
Lot
0.23 ac (10,125 SF)
Zoning code
6100:COMMERCIAL,NEIGHBRHD
APN
01-4103-016-0650
UPID
US18-0090664
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
-
Mi Rinconcito Mexicano Restaurant
-
Arte Amantolli (Bike/Boat/Book/etc) Store Clothing & Fashion Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$450k
CAP Approach
CAP
$980k
Comparable Approach
Comparable
$699k
Blend (final)
Blend
$710k
Owner & transaction history
Mi Rinconcito Mexicano Corp · 9 yrs held
Mi Rinconcito Mexicano Corp
since 2016
7 recorded transactions
Zoning & alternative use
6100:COMMERCIAL,NEIGHBRHD · 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
by Request
ML approach
$450,000
CAP Approach
CAP Return
Estimation
6%
$1,065,000
6.5%
$980,000
7%
$910,000
Blend value · Realmo final
$710k
Range $639k – $781k · ±10%
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
$263 / 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
$27,687
Tax year 2023
Assessed value
$1,346,862
Assessed 2023
Previous assessed
$1,347,025
0.0% YoY
Effective rate
2.06%
On assessed value
Assessed land
$1,265,625
Assessed improvement
$81,237
Land market value
$1,265,625
Improvement market value
$81,237
Total market value
$1,346,862
Applied tax rate
100.0000
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
Retail residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
1937
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
2
Bathrooms
3
Total area
2,700 SF
Lot
0.23 ac (10,125 SF)
Zoning code
6100:COMMERCIAL,NEIGHBRHD
APN
01-4103-016-0650
UPID
US18-0090664
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6100:COMMERCIAL,NEIGHBRHD · Miami, FL
Zoning 6100:COMMERCIAL,NEIGHBRHD · permitted uses
6100:COMMERCIAL,NEIGHBRHD · 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
1937
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Bathrooms
3
Lot
0.23 ac
Current owner
From public records · entity-resolved
Mi Rinconcito Mexicano Corp
Entity
Free & Clear · 9 yrs held
Mailing address
1961 SW 8TH ST, MIAMI, FL 33135-3315
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
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 2, 2016
—
Mi Rinconcito Mexicano Corp
Serrano,jose M
Warranty Deed
—
Dec 2, 2016
$1,390,000
Mi Rinconcito Mexicano Corp
Tessaro,umberto & Egista C
Warranty Deed
$1,274,600 · Bank Of America
Nov 16, 2009
—
Umberto Tessaro
Tessaro,umberto & Egista C
Quit Claim Deed
related
—
Apr 11, 2008
—
Umberto Tessaro
—
Trustees Deed
related
$600,000 · Totalbank
May 11, 2006
$875,000
Umberto Tessaro
Spaulding Partners LLC
Warranty Deed
$600,000 · Spaulding Partners LLC
Sep 14, 2004
$400,000
Spaulding Partners LLC
Five Wong Corp
Warranty Deed
—
—
—
Five Wong Corp
—
Deed Of Trust
related
$185,000 · Ocean Bank
—
—
Calle 8 Investment LLC
—
Deed Of Trust
related
$589,000 · Ocean Bank
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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