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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2521 NW 1St Ave Miami, FL 33127

    • Commercial land
    • 1,360 SF
    • 0.12 lot acres
    For Sale
    View listing
    $14,500,000
    Value Estimations
    Cap Rate Potential
    9.8%
    Commercial land
    Location Intelligence
    Property ID
    US18-9927152
    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.

    Current Use by Public Records

    • Commercial land

    Property Details for 2521 NW 1St Ave

    Year built
    1992
    Construction
    CONCRETE
    Lot size
    0.12 lot acres
    Property size
    1,360 SF
    Zone code
    6107:RESID-MEDIUM RETAIL
    Property type
    Commercial land
    APN
    01-3125-029-1250
    APU
    131250291250

    Description

    This exceptional 31,114 square foot (.71-acre) commercial land parcel in Miami's Wynwood neighborhood offers significant development potential. Located at 2521 NW 1st Ave, the property boasts extensive frontage on NW 1st Ave, NW 26th St, and NW 25th St. The site is zoned T5-O NRD-1 / T5-L NRD-1, allowing for a variety of uses, including retail, residential, hotel, and office. Current zoning permits a maximum gross building area of 181,901 square feet, with options for up to 107 residential units or 214 hotel keys. Alternatively, pre-approved plans exist for a mixed-use development comprising two connected towers with 48 residential units, 48 hotel keys, 10,661 square feet of retail space, and 95 parking spaces. The property includes a fully renovated, 5,000 square foot retail building currently fully leased to the Zamna Group, a renowned hospitality and entertainment company operating Sha Wynwood. This prime location is immersed in Wynwood's vibrant art scene, attracting a constant flow of visitors and offering substantial income generation opportunities. The Live Local Act further enhances the development flexibility of this exceptional property. This is a unique opportunity to capitalize on Wynwood's thriving creative and hospitality-focused environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $330,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $535,000
      6.5%
      $495,000
      7%
      $460,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $686,000
      Market price range: $161k - $687k

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.197
    Latitude
    25.8013
    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
    $28,862
    $1,820,000
    $2,241
    $1,822,241
    -
    $1,820,000
    $2,241
    $1,822,241

    Comparable in this City

    • Value Estimation by Request
      0.16 Acres

      34 29th St

      VACANT COMMERCIAL LAND • 0.16 Acres
      34 29th St, Miami, FL 33127-3928
      View Details
    • Value Estimation by Request
      0.23 Acres

      3136 2nd Ave

      VACANT COMMERCIAL LAND • 0.23 Acres
      3136 2nd Ave, Miami, FL 33127-3722
      View Details
    • Value Estimation
      $530,000
      0.32 Acres

      270 23rd St

      VACANT COMMERCIAL LAND • 0.32 Acres
      270 23rd St, Miami, FL 33127-4316
      View Details
    • Value Estimation by Request
      0.10 Acres

      524 23rd St

      VACANT COMMERCIAL LAND • 0.10 Acres
      524 23rd St, Miami, FL 33127-4322
      View Details
    • Value Estimation by Request
      0.10 Acres

      580 23rd St

      VACANT COMMERCIAL LAND • 0.10 Acres
      580 23rd St, Miami, FL 33127-4322
      View Details
    • Value Estimation by Request
      0.48 Acres

      51 28th St

      VACANT COMMERCIAL LAND • 0.48 Acres
      51 28th St, Miami, FL 33127-4427
      View Details

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      Development Opportunity in Miami's Urban Core

      20,000 SF land for mixed-use development in Miami.
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    Similar Nearby for Lease

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      Land Available For Rent

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    • $11 SF/Yr
      32,921 SF

      Wynwood Commercial Land Opportunity

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    • Contact for pricing
      4,845 SF

      Wynwood Retail Space - Miami, FL

      Prime Wynwood Retail Opportunity. Multiple Tenancy Available.
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    • $16,572 /Mo
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      Wynwood Flex Space: Miami Investment

      Prime Wynwood Flex Space, 1774 sq ft.
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      View Details
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    2521 NW 1St Ave
    Miami, FL 33127
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    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
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