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Property profile & analytics
OFF-MARKET
Estimated value
$8,900,000
Hotels
221 Collins Ave Miami Beach, FL 33139-7147
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-8370218
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1922
Total area
10,144 SF
Lot
0.15 ac (6,500 SF)
Zoning code
3003:MULTI-FAMILY
APN
02-4203-003-0390
UPID
US18-8370218
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
$8.90M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.90M
Owner & transaction history
2024 221 Collins LLC · 2 yrs held
2024 221 Collins LLC
since 2024
Last sale
$8.9M
7 recorded transactions
Zoning & alternative use
3003:MULTI-FAMILY · Miami Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$8,900,000
ML approach
$8,900,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$11,700,000
Current use
Blend value · Realmo final
$8.90M
Range $8.01M – $9.79M · ±10% · vs last sale $8.90M (Jan 17 2024)
Last sale anchor
$8.90M
Jan 17 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
$877 / 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
$85,017
Tax year 2023
Assessed value
$4,499,064
Assessed 2023
Previous assessed
$4,180,706
+7.6% YoY
Effective rate
1.89%
On assessed value
Assessed land
$3,575,000
Assessed improvement
$924,064
Land market value
$3,575,000
Improvement market value
$924,064
Total market value
$4,499,064
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1922
Heating
NONE
Stories
2
Units
8
Bathrooms
15
Total area
10,144 SF
Lot
0.15 ac (6,500 SF)
Zoning code
3003:MULTI-FAMILY
APN
02-4203-003-0390
UPID
US18-8370218
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
3003:MULTI-FAMILY · Miami Beach, FL
Zoning 3003:MULTI-FAMILY · permitted uses
3003:MULTI-FAMILY · 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
HOTEL/MOTEL Current
Est. value
$11.7M
HOTEL/MOTEL Current
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
1922
Heating
NONE
Stories
2
Units
8
Bathrooms
15
Lot
0.15 ac
Current owner
From public records · entity-resolved
2024 221 Collins LLC
Entity
Mailing address
PO BOX 190778, MIAMI BEACH, FL 33119-0778
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
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 17, 2024
$8,900,000
2024 221 Collins LLC
Collins 221 LLC
Warranty Deed
—
Jun 26, 2019
$5,400,000
Jasper Collins LLC
221 Collins LLC
Warranty Deed
$3,600,000 · Quantum Leap Lndg LLC
Jun 26, 2019
$100
221 Collins LLC
221 Collins LLC
Correction Deed
related
—
Mar 15, 2019
$100
221 Collins LLC
Schiffler Annette S M
Grant Deed
related
—
May 18, 2007
—
Carolyn Freveletti
Carolyn Freveletti
Intrafamily Transfer
related
$150,750 · First Magnus Financial Corp
Oct 18, 2006
—
Freveletti,carolyn
221 INC
Quit Claim Deed
related
—
May 19, 2006
—
Clement,nadia
—
Trustees Deed
related
$17,000 · 221 INC
Jul 29, 2005
$225,000
Maite Arnedo
The 221 INC
Special Warranty Deed
$195,000 · Aftra-sag FCU
May 27, 2005
—
221 INC
—
Trustees Deed
related
$23,000 · Baker & Cronig LLP
—
—
Arnedo,maite
—
Deed Of Trust
related
$52,000 · Countrywide Hm Lns
—
—
221 INC
—
Deed Of Trust
related
$720,000 · Intercredit Bk
—
—
Carolyn Freveletti
—
Deed Of Trust
related
$20,000 · Javier Lopez
—
—
221 INC
—
Deed Of Trust
related
$140,000 · Harold Steiner
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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