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Property profile & analytics
OFF-MARKET
Estimated value
$6,945,000
Outlet malls
2000 Normandy Dr Miami Beach, FL 33141-4458
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US18-6287960
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2011
Total area
16,533 SF
Lot
0.74 ac (32,213 SF)
Zoning code
6100:COMMERCIAL,NEIGHBRHD
APN
02-3210-002-0820
UPID
US18-6287960
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
$6.95M
CAP Approach
CAP
$8.30M
Comparable Approach
Comparable
$5.76M
Blend (final)
Blend
$6.95M
Owner & transaction history
Group Santa Fe LLC · 1 yrs held
Group Santa Fe LLC
since 2024
Last sale
$6.9M
2 recorded transactions
Zoning & alternative use
6100:COMMERCIAL,NEIGHBRHD · Miami Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$11.3M
+20.9%
Auto repair, garage
$10.8M
+15.8%
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 Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs 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
$6,945,000
ML approach
$6,945,000
CAP Approach
CAP Return
Estimation
6%
$8,990,000
6.5%
$8,300,000
7%
$7,705,000
Alternative Use
Use
Estimation
RETAIL STORES
$9,330,000
Current use
OFFICE BUILDING
$11,275,000
Change: +21% · Conversion: Easy
AUTO REPAIR, GARAGE
$10,810,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$6.95M
Range $6.25M – $7.64M · ±10% · vs last sale $6.95M (Dec 5 2024)
Last sale anchor
$6.95M
Dec 5 2024
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
$420 / 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
$122,497
Tax year 2023
Assessed value
$7,000,000
Assessed 2023
Previous assessed
$7,000,000
+0.0% YoY
Effective rate
1.75%
On assessed value
Assessed land
$3,221,300
Assessed improvement
$3,778,700
Land market value
$3,221,300
Improvement market value
$3,778,700
Total market value
$7,000,000
Applied tax rate
200.0000
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
2011
Heating
NONE
Cooling
CENTRAL
Total area
16,533 SF
Lot
0.74 ac (32,213 SF)
Zoning code
6100:COMMERCIAL,NEIGHBRHD
APN
02-3210-002-0820
UPID
US18-6287960
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6100:COMMERCIAL,NEIGHBRHD · Miami Beach, FL
Zoning 6100:COMMERCIAL,NEIGHBRHD · permitted uses
6100:COMMERCIAL,NEIGHBRHD · Miami Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Miami Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$9.3M
OFFICE BUILDING
Est. value
$11.3M
AUTO REPAIR, GARAGE
Est. value
$10.8M
RETAIL STORES Current
OFFICE BUILDING
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
2011
Heating
NONE
Cooling
Yes
Lot
0.74 ac
Current owner
From public records · entity-resolved
Group Santa Fe LLC
Entity
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 5, 2024
$6,947,400
Group Santa Fe LLC
Veung Property Holdings INC
Warranty Deed
—
Apr 18, 2008
—
Yeung Property Holdings INC
—
Deed Of Trust
related
$6,850,000 · Us Century 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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