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Property profile & analytics
OFF-MARKET
Estimated value
$5,610,000
Outlet malls
1991 163rd St North Miami Beach, FL 33162-4825
Entity Owned
Free & Clear
Property ID
US18-0187829
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1957
Construction
CONCRETE
Total area
5,660 SF
Lot
0.21 ac (9,102 SF)
Zoning code
6400:COMMERCIAL,CENTRAL
APN
07-2216-001-0730
UPID
US18-0187829
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
$5.35M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.61M
Owner & transaction history
Alturia North Miami Beach Asset LLC
Alturia North Miami Beach Asset LLC
since 2026
Last sale
$6.0M
7 recorded transactions
Zoning & alternative use
6400:COMMERCIAL,CENTRAL · North Miami Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.2M
+58.9%
Commercial (general)
$4.2M
+58.5%
Auto repair, garage
$3.7M
+40.1%
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
$5,045,000
ML approach
$5,345,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$4,195,000
Change: +59% · Conversion: Easy
COMMERCIAL (GENERAL)
$4,185,000
Change: +58% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,700,000
Change: +40% · Conversion: Difficult
Blend value · Realmo final
$5.61M
Range $5.05M – $6.17M · ±10% · vs last sale $6.03M (Aug 18 2023)
Last sale anchor
$6.03M
Aug 18 2023
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
$991 / 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
$18,045
Tax year 2023
Assessed value
$1,157,806
Assessed 2023
Previous assessed
$1,021,466
+13.3% YoY
Effective rate
1.56%
On assessed value
Assessed land
$864,690
Assessed improvement
$293,116
Land market value
$864,690
Improvement market value
$293,116
Total market value
$1,157,806
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1957
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
2
Total area
5,660 SF
Lot
0.21 ac (9,102 SF)
Zoning code
6400:COMMERCIAL,CENTRAL
APN
07-2216-001-0730
UPID
US18-0187829
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6400:COMMERCIAL,CENTRAL · North Miami Beach, FL
Zoning 6400:COMMERCIAL,CENTRAL · permitted uses
6400:COMMERCIAL,CENTRAL · North Miami Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Miami Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$4.2M
COMMERCIAL (GENERAL)
Est. value
$4.2M
AUTO REPAIR, GARAGE
Est. value
$3.7M
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1957
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Lot
0.21 ac
Current owner
From public records · entity-resolved
Alturia North Miami Beach Asset LLC
Entity
Free & Clear · 0 yrs held
Mailing address
240 CRANDON BLVD STE #232, KEY BISCAYNE, FL 33149-1624
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 30, 2026
$21,060,000
Alturia North Miami Beach Asset LLC
Elevate 163 North Miami Beach LLC
Warranty Deed
—
Jan 3, 2025
—
Elevate 163 North Miami Beach LLC
—
Deed
related
$1,900,000 · C Bridge INC
Aug 18, 2023
$6,030,000
Elevate 163 North Miami Beach LLC
Pina Investments LLC
Special Warranty Deed
—
Nov 1, 2016
—
Pina Investments LLC
—
Deed
related
$1,400,000 · Ocean Bk
Aug 22, 2011
$663,750
Pina Investments LLC
Kenjinakazawa LLC
Warranty Deed
$401,666 · Randy Rose LLC
Jul 8, 2011
—
Rose Pa
Kenjinakazawa LLC
Quit Claim Deed
related
—
Jun 1, 2011
$800,000
Kenjinakazawa LLC
United King LLC
Warranty Deed
—
Nov 30, 2010
—
Island King LLC
—
Deed Of Trust
related
$1,500,000 · 1010 Aventura LLC
Feb 15, 2005
$680,000
United King LLC
Jlb II Ltd
Warranty Deed
—
—
—
Jlb 11 Limited Company
—
Deed Of Trust
related
$260,000 · Bankunited
—
—
Pina Investments LLC
—
Deed Of Trust
related
$1,400,000 · Ocean Bk
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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