Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2121 24th Ave Miami, FL 33142-7239

    • Manufacturing properties
    • 6,050 SF
    • 0.32 lot acres
    OFF-MARKET
    Last Sale
    May 24, 2022
    $1,950,000
    Value Estimations
    $1,800,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4495172
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Manufacturing properties

    Property Details for 2121 24th Ave

    Year built
    1986
    Construction
    CONCRETE
    Lot size
    0.32 lot acres
    Property size
    6,050 SF
    Zone code
    7700:INDUSTRIAL,RESTRICT
    Property type
    Manufacturing properties
    APN
    01-3127-046-1080
    APU
    131270461080

    Description

    This exceptional industrial property at 2121 NW 24th Avenue offers a rare opportunity to lease a single-tenant cold storage facility. The property comprises two buildings totaling 6,050 square feet situated on a 13,747 square foot lot. Building 1 features substantial storage racks, four covered dock spaces, one loading ramp, and an 18-foot ceiling height, ideal for efficient material handling. Building 2 boasts a drive-in door, two offices, air conditioning, a private bathroom with a shower, a security gate, and wall-mounted air conditioning units. Additional amenities in Building 2 include a downstairs bathroom and break room, ceilings ranging from 18 to 20 feet, a fire suppression system, and external rack/shelf storage. The property is zoned 7700 and its Assessor's Parcel Number (APN) is 01-31-27-046-1080. This property is perfect for businesses requiring cold storage and efficient warehouse space. The combination of features in both buildings provides a versatile and functional space for a variety of industrial uses. The single-tenant occupancy ensures exclusive use and control of the entire facility. Inquire today to learn more about this exceptional leasing opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,800,000
      ML approach
      $1,935,000

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,225,000
      OFFICE BUILDING
      $1,175,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2354
    Latitude
    25.7957
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $22,221
    $687,350
    $393,650
    $1,081,000
    -
    $687,350
    $393,650
    $1,081,000

    Comparable in this City

    • Value Estimation
      $535,000
      9,000 SF

      3270 38th St

      MANUFACTURING (LIGHT) • 9,000 SF
      3270 38th St, Miami, FL 33142-5032
      View Details
    • Value Estimation
      $815,000
      14,442 SF

      3048 39th St

      MANUFACTURING (LIGHT) • 14,442 SF
      3048 39th St, Miami, FL 33142
      View Details
    • Value Estimation
      $365,000
      5,224 SF

      3300 48th St

      FOOD PROCESSING • 5,224 SF
      3300 48th St, Miami, FL 33142-3326
      View Details
    • Value Estimation
      $580,000
      12,780 SF

      3661 48th Ter

      MANUFACTURING (LIGHT) • 12,780 SF
      3661 48th Ter, Miami, FL 33142-3923
      View Details
    • Value Estimation
      $325,000
      4,875 SF

      3630 49th St

      MANUFACTURING (LIGHT) • 4,875 SF
      3630 49th St, Miami, FL 33142-3928
      View Details
    • Value Estimation
      $600,000
      9,200 SF

      4300 37th Ave

      MANUFACTURING (LIGHT) • 9,200 SF
      4300 37th Ave, Miami, FL 33142-4226
      View Details

    Similar Nearby for Sale

    • $4,999,000
      9,800 SF

      Allapattah Warehouse: Prime Miami Location

      9,800 SF Industrial Warehouse For Sale
      1481 22Nd St, Miami, FL 33142
      View Details
    • $1,700,000
      Pending

      Miami Industrial Freestanding Building For Sale

      Freestanding industrial building in Miami-Dade's commercial corridor, ideal for various uses.
      3398 NW 53Rd St, Miami, FL 33142
      View Details
    • $4,250,000
      19,308 SF

      Hialeah Freestanding Manufacturing Warehouse

      19,308 SF manufacturing warehouse with heavy power in Hialeah.
      3750 NW 43Rd St, Miami, FL 33142
      View Details
    • Contact for pricing

      Freestanding Industrial Warehouse in Miami

      8,060 SF warehouse on 11,607 SF lot, central Miami.
      3241 NW 38Th St, Miami, FL 33142
      View Details
    • $11,000,000

      Allapattah Industrial Assemblage For Sale

      Three contiguous warehouse parcels totaling 39,691 SF in Allapattah.
      2053 NW 22Nd Ave, Miami, FL 33142
      View Details
    • $4,500,000
      13,875 SF

      Miami Industrial Warehouse Investment

      14,000 SF Warehouse, Prime Allapattah Location
      3141 40Th St, Miami, FL 33142
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      21,100 SF

      Allapattah Warehouse: Miami Flex Space

      Miami warehouse/office space for lease. Multiple suites available.
      1344 22Nd St, Miami, FL 33142
      View Details
    • $14 SF/Yr
      40,000 SF

      Hialeah Warehouse: 40,000 SF

      Spacious Miami-Dade industrial warehouse, ideal for various uses.
      3595 46Th St, Miami, FL 33142
      View Details
    • Contact for pricing
      8,050 SF

      Allapattah Flex Space Available

      Miami Flex Space: Modern & Versatile
      1724 22Nd St, Miami, FL 33142
      View Details
    • $15 SF/Yr
      40,000 SF

      Miami Warehouse: 40,000 SF

      Prime Miami industrial space; flexible layout.
      3595 46Th St, Miami, FL 33142
      View Details
    • $0.37 SF/Yr
      27,275 SF

      Miami Industrial Lot - 0.62 Acres

      Fenced industrial lot, multi-use potential.
      4310 35Th Ave, Miami, FL 33142
      View Details
    • $180 SF/Yr
      6,800 SF

      Miami Warehouse: 6,800 SF

      Prime Miami warehouse, ideal for various uses.
      4310 35Th Ct, Miami, FL 33142
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2121 24th Ave
    Miami, FL 33142-7239
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.