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Property profile & analytics
OFF-MARKET
Estimated value
$9,350,000
Hotels
235 Washington Ave Miami Beach, FL 33139-7115
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-9506251
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1938
Construction
CONCRETE
Total area
9,918 SF
Lot
0.15 ac (6,500 SF)
Zoning code
3003:MULTI-FAMILY
APN
02-4203-003-1070
UPID
US18-9506251
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
$6.88M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.00M
Blend (final)
Blend
$9.35M
Owner & transaction history
235 Washington LLC · 2 yrs held
235 Washington LLC
since 2023
Last sale
$10.4M
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
$8,070,000
ML approach
$6,875,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$11,440,000
Current use
Blend value · Realmo final
$9.35M
Range $8.42M – $10.29M · ±10% · vs last sale $10.40M (Dec 28 2023)
Last sale anchor
$10.40M
Dec 28 2023
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
$943 / 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
$67,771
Tax year 2023
Assessed value
$3,586,369
Assessed 2023
Previous assessed
$6,400,000
-44.0% YoY
Effective rate
1.89%
On assessed value
Assessed land
$3,575,000
Assessed improvement
$11,369
Land market value
$3,575,000
Improvement market value
$11,369
Total market value
$3,586,369
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
1938
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
2
Units
48
Bathrooms
48
Total area
9,918 SF
Lot
0.15 ac (6,500 SF)
Zoning code
3003:MULTI-FAMILY
APN
02-4203-003-1070
UPID
US18-9506251
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
$11.4M
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
1938
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Units
48
Bathrooms
48
Lot
0.15 ac
Current owner
From public records · entity-resolved
235 Washington LLC
Entity
Mailing address
PO BOX 190778, MIAMI BEACH, FL 33119-0778
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 28, 2023
$10,400,000
235 Washington LLC
235 Washington Holdings LLC
Special Warranty Deed
—
Jun 19, 2019
$10,000,000
235 Washington Holdings LLC
235 Sobe Hospitality LLC
Warranty Deed
$7,500,000 · Dade County FCU
Apr 5, 2017
—
235 Sobe Hospitality LLC
—
Deed
related
$6,500,000 · Legacy Bk/fl
Mar 23, 2015
$8,275,000
235 Sobe Hospitality LLC
South Beach Hostel LLC
Warranty Deed
$4,965,000 · Legacy Bk/fl
Aug 9, 2012
$3,000,000
South Beach Hostel LLC
Stonemason Partners LP
Warranty Deed
$2,500,000 · Apollo Bank
Jun 12, 2008
$3,450,000
Stonemason Partners
Allcrest Investment Group INC
Warranty Deed
$2,550,000 · Allcrest Invs Grp INC
—
—
Allcrest Investment Group INC
—
Deed Of Trust
related
$350,000 · Individual
—
—
South Beach Hostel LLC
—
Loan Modification
related
$2,375,471 · Apollo Bk
—
—
Stonemason Partners LP
—
Deed Of Trust
related
$2,050,000 · Union Credit Bank
—
—
235 Sobe Hospitality LLC
—
Loan Modification
related
$6,500,000 · Legacy Bk/fl
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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