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Property profile & analytics
FOR LEASE
Outlet malls
225 SE 2Nd St Miami, FL 33131
Entity Owned
12-yr Hold
Free & Clear
Property ID
US19-0740521
For Lease
1 / 2
$47,950,000
225 SE 2Nd St, Miami, FL 33131
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Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1945
Construction
CONCRETE
Total area
202,149 SF
Lot
0.94 ac (40,802 SF)
Zoning code
6401:COMMERCIAL
APN
01-0112-000-2030
UPID
US19-0740521
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
-
Parking Parking Lot & Garage
-
Ingraham Garage Parking Lot & Garage
-
Tesla Destination Charger Electric Vehicle Charging Station
-
PERSONA Hair Design Studio Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$63.20M
Blend (final)
Blend
$47.95M
Owner & transaction history
Lpf 2nd St Garage LLC · 12 yrs held
Lpf 2nd St Garage LLC
since 2014
5 recorded transactions
Zoning & alternative use
6401:COMMERCIAL · Miami, 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 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
Blend value · Realmo final
$47.95M
Range $43.16M – $52.75M · ±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
$237 / 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
$487,707
Tax year 2023
Assessed value
$28,661,400
Assessed 2023
Previous assessed
$28,661,400
+0.0% YoY
Effective rate
1.70%
On assessed value
Assessed land
$28,561,400
Assessed improvement
$100,000
Land market value
$28,561,400
Improvement market value
$100,000
Total market value
$28,661,400
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
For Lease
Year built
1945
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
5
Total area
202,149 SF
Lot
0.94 ac (40,802 SF)
Zoning code
6401:COMMERCIAL
APN
01-0112-000-2030
UPID
US19-0740521
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6401:COMMERCIAL · Miami, FL
Zoning 6401:COMMERCIAL · permitted uses
6401:COMMERCIAL · 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.
Building & site characteristics
From public records
Year built
1945
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
5
Lot
0.94 ac
Current owner
From public records · entity-resolved
Lpf 2nd St Garage LLC
Entity
Free & Clear · 12 yrs held
Mailing address
100 E PRATT ST FL, BALTIMORE, MD 21202-1009
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2014
$31,000,000
Lpf 2nd St Garage LLC
Miami Parking Ventures LLC
Special Warranty Deed
—
Oct 4, 2010
$1,500,100
Miami Parking Ventures LLC
37th Avenue Property LLC
Correction Deed
related
—
Sep 28, 2010
$1,500,100
Miami Parking Ventures LLC
37th Avenue Property Coc
Trustees Deed
—
Jan 24, 2006
$23,500,000
37th Avenue Property LLC
Ingraham Parking Center
Grant Deed
$20,200,000 · Orion Bank
May 30, 1997
$6,100,000
Ingraham Parking Center LP
Nationsbank NA (south)
Grant Deed
$6,000,000 · Grand Pacific Finance Corp
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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