New search
Property profile & analytics
OFF-MARKET
Estimated value
$3,045,000
Office buildings
21 2nd Ave, Miami, FL 33130-1502
Entity Owned
11-yr Hold
Free & Clear
Property ID
US18-4225882
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1940
Construction
CONCRETE
Total area
3,840 SF
Lot
0.1 ac (4,500 SF)
Zoning code
6600:COMMERCIAL,LIBERAL
APN
01-0114-040-1020
UPID
US18-4225882
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
-
Margot Natural wine bar Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.21M
Blend (final)
Blend
$3.05M
Owner & transaction history
172 Flagler Realty LLC · 11 yrs held
172 Flagler Realty LLC
since 2015
7 recorded transactions
Zoning & alternative use
6600:COMMERCIAL,LIBERAL · Miami, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.2M
+28.0%
Commercial (general)
$2.9M
+15.9%
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 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,515,000
Current use
RETAIL STORES
$3,220,000
Change: +28% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,915,000
Change: +16% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,510,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$3.05M
Range $2.74M – $3.35M · ±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
$793 / 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
$30,928
Tax year 2023
Assessed value
$2,476,778
Assessed 2023
Previous assessed
$1,689,278
+46.6% YoY
Effective rate
1.25%
On assessed value
Assessed land
$2,250,000
Assessed improvement
$226,778
Land market value
$2,250,000
Improvement market value
$226,778
Total market value
$2,476,778
Applied tax rate
101.0000
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 (MULTI-STORY)
Status
Off-Market
Year built
1940
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Buildings
2
Stories
2
Total area
3,840 SF
Lot
0.1 ac (4,500 SF)
Zoning code
6600:COMMERCIAL,LIBERAL
APN
01-0114-040-1020
UPID
US18-4225882
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6600:COMMERCIAL,LIBERAL · Miami, FL
Zoning 6600:COMMERCIAL,LIBERAL · permitted uses
6600:COMMERCIAL,LIBERAL · 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.5M
RETAIL STORES
Est. value
$3.2M
COMMERCIAL (GENERAL)
Est. value
$2.9M
AUTO REPAIR, GARAGE
Est. value
$2.5M
OFFICE BUILDING Current
RETAIL STORES
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
1940
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Buildings
2
Lot
0.1 ac
Current owner
From public records · entity-resolved
172 Flagler Realty LLC
Entity
Free & Clear · 11 yrs held
Mailing address
215 COLES ST, JERSEY CITY, NJ 07310-1301
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 26, 2020
—
172 Flagler Realty LLC
—
Deed
related
$4,976,202 · Centennial Bk
Feb 25, 2015
$5,100,000
172 Flagler Realty LLC
Flagler Station Partners LLC
Grant Deed
—
Feb 4, 2014
$2,900,000
Flagler Station Partners LLC
Flagler Building Lllp
Grant Deed
$1,400,000 · Flagler Building Lllp
May 7, 2008
—
Building Lllp Flagler
Thomas,jack K JR
Quit Claim Deed
related
$800,000 · Sanibel Captiva Community Bank
Oct 4, 1999
$300,000
Jack K Thomas
Percal Realty INC
Grant Deed
—
—
—
172 Flagler Realty LLC
—
Deed Of Trust
related
$7,500,000 · Centennial Bk
—
—
172 Flagler Realty LLC
—
Deed Of Trust
related
$4,976,202 · Centennial 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 21 2nd Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
