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Property profile & analytics
OFF-MARKET
Estimated value
$2,015,000
Office buildings
245 8th St Miami, FL 33136-3913
Individually Owned
2-yr Hold
Free & Clear
Property ID
US18-4933378
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1949
Total area
3,949 SF
Lot
0.34 ac (15,000 SF)
Zoning code
6100:COMMERCIAL,NEIGHBRHD
APN
01-0103-050-1150
UPID
US18-4933378
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
-
Greater Historic Bethel AME Church Church Mosque
-
Greater Bethel African Methodist Episcopal Church Church
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.86M
Comparable Approach
Comparable
$1.71M
Blend (final)
Blend
$2.02M
Owner & transaction history
Greater Bethel African Methodist Ep · 2 yrs held
Greater Bethel African Methodist Ep
since 2023
2 recorded transactions
Zoning & alternative use
6100:COMMERCIAL,NEIGHBRHD · Miami, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.9M
+8.4%
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%
$2,015,000
6.5%
$1,860,000
7%
$1,725,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,695,000
Current use
COMMERCIAL (GENERAL)
$2,920,000
Change: +8% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,580,000
Change: -4% · Conversion: Difficult
RETAIL STORES
$2,260,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$2.02M
Range $1.81M – $2.22M · ±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
$510 / 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
$37,173
Tax year 2023
Assessed value
$1,808,336
Assessed 2023
Previous assessed
$1,658,561
+9.0% YoY
Effective rate
2.06%
On assessed value
Assessed land
$1,650,000
Assessed improvement
$158,336
Land market value
$1,650,000
Improvement market value
$158,336
Total market value
$1,808,336
Applied tax rate
100.0000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1949
Cooling
CENTRAL
Stories
2
Units
8
Total area
3,949 SF
Lot
0.34 ac (15,000 SF)
Zoning code
6100:COMMERCIAL,NEIGHBRHD
APN
01-0103-050-1150
UPID
US18-4933378
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6100:COMMERCIAL,NEIGHBRHD · Miami, FL
Zoning 6100:COMMERCIAL,NEIGHBRHD · permitted uses
6100:COMMERCIAL,NEIGHBRHD · 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.7M
COMMERCIAL (GENERAL)
Est. value
$2.9M
AUTO REPAIR, GARAGE
Est. value
$2.6M
RETAIL STORES
Est. value
$2.3M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
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
1949
Cooling
Yes
Stories
2
Units
8
Lot
0.34 ac
Current owner
From public records · entity-resolved
Greater Bethel African Methodist Ep
Individual
Free & Clear · 2 yrs held
Mailing address
245 NW 8TH ST, MIAMI, FL 33136-3913
Mailing matches property
Yes
Owner-occupied
Yes
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 23, 2023
—
Greater Bethel African Methodist Ep
Bethel A M E Church INC
Quitclaim Deed
related
—
Aug 24, 2020
—
Joe Moretti Phase Two LLC
—
Deed
related
$2,804,949 · Truist Bk
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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