Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    2534 N Miami Ave Miami, FL 33127

    • Amusement parks
    • 18,870 SF
    • 0.55 lot acres
    For Lease
    View listing
    $75 SF/Yr
    Last Sale
    Sep 02, 2021
    $13,000,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-8979233
    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

    • Perfum International / Warehouse
    • 2534 N Miami Ave Parking / Parking Lot
    • Frites Artois / Restaurant

    Property Details for 2534 N Miami Ave

    Year built
    1950
    Construction
    CONCRETE
    Lot size
    0.55 lot acres
    Property size
    18,870 SF
    Zone code
    6100:COMMERCIAL,NEIGHBRHD
    Property type
    Amusement parks
    APN
    01-3125-029-1150
    APU
    131250291150

    Description

    This exceptional 0.55-acre commercial land parcel, located at 2534 N Miami Ave, Miami, FL 33127 (APN: 01-3125-029-1150), is offered at $18,000,000 ($750/SF). Currently zoned T6-8-O, it allows for an 82-unit boutique development as-of-right. The Live Local Act enables the construction of a high-rise building, potentially up to 60 stories and 550 units, subject to approvals. Situated on a highly visible corner lot on a main Wynwood thoroughfare, this property benefits from the neighborhood's rapid transformation into a vibrant hub of art, dining, nightlife, and business. Wynwood's growth includes over 2.1 million square feet of office space, 2.6 million square feet of retail, and 3,100+ apartment units, demonstrating strong market demand. The property's prime location provides unparalleled access to major South Florida markets, including over 12.7 million square feet of Class A office and over 10.9 million square feet of Class A retail within a 15-minute radius. The burgeoning condo market, with recent projects selling at over $1,250 per square foot, further underscores the investment potential. This presents a unique opportunity to capitalize on Wynwood's continued expansion and create a landmark development in this dynamic and sought-after location. The property is for sale by owner.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1954
    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
    $227,794
    $8,382,500
    $3,917,500
    $12,300,000
    -
    $8,382,500
    $3,917,500
    $12,300,000

    Comparable in this City

    • Value Estimation
      $410,000
      15,961 SF

      2129 1st Ct

      AMUSEMENT PARK • 15,961 SF
      2129 1st Ct, Miami, FL 33127-4814
      View Details
    • Value Estimation
      $780,000
      44,171 SF

      2136 1st Ave

      AMUSEMENT PARK • 44,171 SF
      2136 1st Ave, Miami, FL 33127-4904
      View Details
    • Value Estimation
      $3,520,000
      4,966 SF

      3430 Miami Ave

      ARENA, CONVENTION CENTER • 4,966 SF
      3430 Miami Ave, Miami, FL 33127-3526
      View Details
    • Value Estimation by Request

      272 58Th St

      Multifamily properties
      272 58Th St, Miami, FL 33127
      View Details
    • Value Estimation by Request

      250 23Rd St

      Office Properties & Spaces
      250 23Rd St, Miami, FL 33127
      View Details
    • Value Estimation by Request

      178 54Th St

      Private islands
      178 54Th St, Miami, FL 33127
      View Details

    Similar Nearby for Sale

    • $2,200,000

      Wynwood Nightlife Portfolio Opportunity

      Nightlife portfolio in Wynwood with two nightclubs and potential restaurant.
      Wynwood Night Clb, Miami, FL 33127
      View Details
    • $1,850,000

      Buena Vista Development Land

      Prime Miami commercial lot, 13,400 SF.
      178 54Th St, Miami, FL 33127
      View Details
    • Contact for pricing
      0.28 Acres

      Allapattah Industrial Warehouse Opportunity

      Miami Warehouse - 3000 SF + Yard
      775 21St St, Miami, FL 33127
      View Details
    • $2,500,000

      Miami Wynwood Development Opportunity

      Prime Wynwood location, high-density zoning.
      154 30Th St, Miami, FL 33127
      View Details
    • $2,300,000

      Miami Warehouse Investment Opportunity

      High-traffic location, strong rental income.
      570 54Th St, Miami, FL 33127
      View Details
    • $1,900,000

      Miami Multifamily Investment Opportunity

      Four-unit building, fully furnished, Wynwood proximity.
      1054 29Th St, Miami, FL 33127
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      32,785 SF

      Wynwood Art District Studio Space

      32,785 Sq. Ft. studio in the Wynwood Art District.
      2136 NW 1St Ave, Miami, FL 33127
      View Details
    • $15 SF/Yr
      14,437 SF

      Miami Industrial Distribution Warehouse

      Allapattah Warehouse: Lease Opportunity
      2065 7Th Ave, Miami, FL 33127
      View Details
    • $85 SF/Yr
      1,268 SF

      Retail Space Available For Rent

      Retail space available for lease in Miami, Florida.
      153 NW 25Th St, Miami, FL 33127
      View Details
    • $12,500 /Mo

      Wynwood Industrial Space For Lease

      Industrial space in Wynwood, suitable for showroom and warehouse.
      667 NW 29Th St, Miami, FL 33127
      View Details
    • $17 SF/Yr

      Miami Retail Showroom and Warehouse

      Showroom and warehouse space in iconic Wynwood neighborhood.
      667 NW 29Th St, Miami, FL 33127
      View Details
    • Contact for pricing
      936 SF

      Retail Space in Miami, FL

      936 SF retail space available for rent in Miami.
      160-176 NW 26Th St, Miami, FL 33127
      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.
    2534 N Miami Ave
    Miami, FL 33127
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.