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Property profile & analytics
OFF-MARKET
Estimated value
$3,850,000
Drive through restaurants
232 1st Ave Florida City, FL 33034-5006
Individually Owned
5-yr Hold
~
Est. High Equity
Property ID
US18-4112027
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1988
Construction
CONCRETE
Total area
3,079 SF
Lot
0.72 ac (31,250 SF)
Zoning code
6000:COMMERCIAL,GENERAL
APN
16-7930-001-0261
UPID
US18-4112027
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
$4.09M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.36M
Blend (final)
Blend
$3.85M
Owner & transaction history
R Lee Brown · 5 yrs held
R Lee Brown
since 2021
Last sale
$3.6M
5 recorded transactions
Zoning & alternative use
6000:COMMERCIAL,GENERAL · Florida City, 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 Florida City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Florida City 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
$4,130,000
ML approach
$4,090,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.85M
Range $3.47M – $4.24M · ±10% · vs last sale $3.59M (Mar 3 2021)
Last sale anchor
$3.59M
Mar 3 2021
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
$1,250 / 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
$21,242
Tax year 2023
Assessed value
$1,113,490
Assessed 2023
Previous assessed
$839,536
+32.6% YoY
Effective rate
1.91%
On assessed value
Assessed land
$781,250
Assessed improvement
$332,240
Land market value
$781,250
Improvement market value
$332,240
Total market value
$1,113,490
Applied tax rate
1,600.0000
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
1988
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
3,079 SF
Lot
0.72 ac (31,250 SF)
Zoning code
6000:COMMERCIAL,GENERAL
APN
16-7930-001-0261
UPID
US18-4112027
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6000:COMMERCIAL,GENERAL · Florida City, FL
Zoning 6000:COMMERCIAL,GENERAL · permitted uses
6000:COMMERCIAL,GENERAL · Florida City, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Florida City. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1988
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.72 ac
Current owner
From public records · entity-resolved
R Lee Brown
Individual
Mailing address
2071 COLD CYN RD, CALABASAS, CA 91302-2369
Ownership since
2021
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
Mar 3, 2021
$3,586,000
R Lee Brown
Quick Service Realco LLC
Special Warranty Deed
$1,972,300 · Credit Union 1
Jan 22, 2021
$1,537,500
Quick Service Realco LLC
Rolfs Herman E Living Trust
Grant Deed
—
Feb 6, 2020
—
Emil,herman Living Trust
Rolfs Valerie W Living Trust
Quit Claim Deed
related
—
Jul 13, 2006
—
Kazi Foods Of Florida INC
—
Deed Of Trust
related
$4,000,000 · Citicorp Leasing INC
Dec 21, 2004
—
Kazi Foods Of Florida INC
—
Deed Of Trust
related
$9,550,000 · Citicorp Leasing INC
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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