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    2128 Flagler St Miami, FL 33135-1687
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    2128 Flagler St Miami, FL 33135-1687

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    • Office buildings
    • 26,504 SF
    • 0.20 lot acres
    Off-Market
    Property ID
    US19-0324405
    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.
    Value Estimations
    $5,215,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • SDR Clinical Research LLC / Physician / Medical Clinic
    • Genesis Therapy / Medical Clinic
    • Kutner Mark E MD / Physician
    • Best Solutions Medical Center Inc / Medical Clinic
    • Flourish Research - Miami (Little Havana) / Research Institute / Medical Center

    Property Details for 2128 Flagler St

    Year built
    1972
    Construction
    CONCRETE
    Lot size
    0.20 lot acres
    Property size
    26,504 SF
    Zone code
    6100:COMMERCIAL,NEIGHBRHD
    Property type
    Office buildings
    APN
    01-4103-014-3230
    APU
    141030143230

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,747,000
      Market price range: $5.75M - $13.7M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $7,880,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2298
    Latitude
    25.7723
    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
    $20,556
    $860,000
    $140,000
    $1,000,000
    -
    $860,000
    $140,000
    $1,000,000

    Comparable in this City

    • Value Estimation
      $1,895,000
      5,878 SF

      3230 Flagler St

      OFFICE BUILDING • 5,878 SF
      3230 Flagler St, Miami, FL 33135-1153
      View Details
    • Value Estimation
      $1,690,000
      5,304 SF

      201 27th Ave

      OFFICE BUILDING • 5,304 SF
      201 27th Ave, Miami, FL 33135-1401
      View Details
    • Value Estimation
      $2,205,000
      7,203 SF

      833 29th Ave

      OFFICE BUILDING • 7,203 SF
      833 29th Ave, Miami, FL 33135-4551
      View Details
    • Value Estimation
      $2,740,000
      10,000 SF

      295 27th Ave

      OFFICE BUILDING (MULTI-STORY) • 10,000 SF
      295 27th Ave, Miami, FL 33135-1401
      View Details
    • Value Estimation by Request
      780 SF

      330 27th Ave Ste, Unit 309

      PROFESSIONAL BUILDING • 780 SF
      330 27th Ave Ste, Miami, FL 33135-2967
      View Details
    • Value Estimation by Request
      590 SF

      330 27th Ave Ste, Unit 507

      PROFESSIONAL BUILDING • 590 SF
      330 27th Ave Ste, Miami, FL 33135-2967
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      900 SF

      Miami Office Building For Rent

      Two-story office building with parking in Miami, Florida.
      2140 W Flagler St, Miami, FL 33135
      View Details
    • Contact for pricing
      8,500 SF

      Calle Ocho Retail/Office Building

      Five-story building with retail and office space on Calle Ocho.
      1842-1850 SW 8Th St, Miami, FL 33135
      View Details
    • $3,000 /Mo

      Office Space on Miami River

      Private office leases within industrial marina on the Miami River.
      881 NW 13Th Ave, Miami, FL 33135
      View Details
    • Contact for pricing

      Retail/Office Property on West Flagler

      Freestanding retail/office building with parking on busy street.
      2924 W Flagler St, Miami, FL 33135
      View Details
    • Contact for pricing
      7,500 SF

      Calle Ocho Retail Opportunity

      Renovated retail building in Little Havana with parking.
      1707 SW 5Th St, Miami, FL 33135
      View Details
    • $3,000 /Mo

      Calle Ocho Office Space Available

      3,400 SF office space in the heart of Miami.
      3465 SW 8Th St, Miami, FL 33135
      View Details
    Request Owner's contact information
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    2128 Flagler St
    Miami, FL 33135-1687
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    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
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