Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    233 23rd St Miami Beach, FL 33139
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    233 23rd St Miami Beach, FL 33139

    View on Map
    • Outlet malls
    • 10,013 SF
    • 0.36 lot acres
    Off-Market
    Property ID
    US18-1535552
    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
    $4,750,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 233 23rd St

    Year built
    1950
    Construction
    CONCRETE
    Lot size
    0.36 lot acres
    Property size
    10,013 SF
    Zone code
    6600:COMMERCIAL,LIBERAL
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    02-3226-001-0520
    APU
    232260010520

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,445,000
      6.5%
      $5,025,000
      7%
      $4,665,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami Beach
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1286
    Latitude
    25.7989
    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
    $74,181
    $3,881,250
    $44,335
    $3,925,585
    -
    $3,881,250
    $44,335
    $3,925,585

    Comparable in this City

    • Value Estimation
      $1,590,000
      6,242 SF

      1600 Alton Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 6,242 SF
      1600 Alton Rd, Miami Beach, FL 33139-2421
      View Details
    • Value Estimation
      $1,270,000
      4,613 SF

      900 Alton Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 4,613 SF
      900 Alton Rd, Miami Beach, FL 33139-5204
      View Details
    • Value Estimation
      $2,040,000
      8,006 SF

      1441 Alton Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 8,006 SF
      1441 Alton Rd, Miami Beach, FL 33139
      View Details
    • Value Estimation
      $3,275,000
      7,174 SF

      1435 Alton Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 7,174 SF
      1435 Alton Rd, Miami Beach, FL 33139-3813
      View Details
    • Value Estimation
      $7,505,000
      18,013 SF

      1701 Alton Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 18,013 SF
      1701 Alton Rd, Miami Beach, FL 33139-2411
      View Details
    • Value Estimation
      $3,455,000
      14,436 SF

      601 5th St

      WHOLESALE OUTLET, DISCOUNT STORE • 14,436 SF
      601 5th St, Miami Beach, FL 33139-6515
      View Details

    Similar Nearby for Sale

    • $8,200,000
      4,146 SF

      Miami Beach Retail Investment Opportunity

      Retail property with future development potential in Miami Beach.
      1570 Alton Rd, Miami Beach, FL 33139
      View Details
    • $11,000,000
      8,006 SF

      Miami Beach Retail Redevelopment Opportunity

      Prime commercial property with redevelopment potential in Miami Beach.
      1441 Alton Rd, Miami Beach, FL 33139
      View Details
    • $5,000,000
      7,762 SF

      South Beach Retail Opportunity

      Four-unit building on Alton Road with redevelopment potential.
      1558 Alton Rd, Miami Beach, FL 33139
      View Details
    • $3,199,000

      Lincoln Road Restaurant - Miami Beach

      Iconic Art Deco Restaurant, Prime Location
      605 Lincoln Rd, Miami Beach, FL 33139
      View Details
    • Contact for pricing
      14,900 SF

      Prime Lincoln Road Retail Building

      Two-story retail building in high-traffic Miami Beach location.
      337 Lincoln Rd, Miami Beach, FL 33139
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      146,327 SF

      Lincoln Road Executive Office Suites

      Prestigious Office Space, Miami Beach
      1111 Lincoln Rd, Miami Beach, FL 33139
      View Details
    • $792 /Mo
      5,461 SF

      Jefferson Ave Commercial Space

      Prime Restaurant/Retail/Office Space
      555 Jefferson Ave, Miami Beach, FL 33139
      View Details
    • Contact for pricing

      Landmark South Beach Location

      Prime location near MacArthur Causeway, Ocean Drive, restaurants, and boutiques.
      555 Washington Ave, Miami Beach, FL 33139
      View Details
    • Contact for pricing

      Miami Beach Retail Space

      Retail space available for rent in Miami Beach, Florida.
      1800 Bay Rd, Miami Beach, FL 33139
      View Details
    • Contact for pricing
      1,797 SF

      Lincoln Road Retail Space

      Prime retail space in a fully restored historic building.
      734-744 Lincoln Rd, Miami Beach, FL 33139
      View Details
    • Contact for pricing
      750 SF

      Lincoln Road Retail Space Available

      750 SF retail space on Lincoln Road for lease.
      801-821 Lincoln Rd, Miami Beach, FL 33139
      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.
    233 23rd St
    Miami Beach, FL 33139
    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.
    Sign Up Successful!
    You now have access to more from Realmo!