Property profile & analytics
2635 12th St Miami, FL 33135
- Office buildings
- 17,270 SF
- 0.20 lot acres
OFF-MARKET
Last Sale
Dec 13, 2024
Dec 13, 2024
$5,925,000
Value Estimations
$5,930,000
Show details
Cap Rate Potential
Location Intelligence
Property ID
US19-0637818
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
- Office buildings
Property Details for 2635 12th St
- Year built
- 1975
- Construction
- CONCRETE
- Lot size
- 0.20 lot acres
- Property size
- 17,270 SF
- Zone code
- 6100:COMMERCIAL,NEIGHBRHD
- Property type
- Office buildings
- APN
- 01-4110-055-0240
- APU
- 141100550240
Description
This exceptional mixed-use investment property in Miami, Florida, presents a compelling opportunity for both seasoned investors and owner-users. Located on a prime .70 net acres (30,800 sq ft) site spanning from SW 11th St to SW 12th St, along bustling SW 27th Ave, this assemblage offers significant redevelopment potential. The property consists of two buildings totaling 16,654 square feet, currently boasting 98% occupancy and generating a substantial net operating income (NOI) of $231,815, resulting in a 3.57% cap rate. The asking price is $6,500,000. The property features approximately 190 feet of frontage on SW 27th Ave and 150 feet on SW 12th St, situated in a high-growth area between Little Havana, Coral Gables, and Coconut Grove. The property is comprised of five parcels with a mixture of zoning allowances: T6-8-O and T4-L. Short-term leases are in place, generating gross annual income exceeding $300,000. This presents an ideal opportunity to construct a signature building, expand an existing business, or leverage the extra land for parking or future development. Financing options are available. The property's APN is T6-8-O & T4-L, and the year built is 1975. Fee simple ownership is offered.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $8,810,000
- 6.5%
- $8,130,000
- 7%
- $7,550,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $3,745,000
Market price range: $3.75M - $8.89M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $6,330,000 Current use
- COMMERCIAL (GENERAL)
- $8,365,000 Change: +32% Conversion: Easy
- MEDICAL BUILDING
- $7,585,000 Change: +20% Conversion: Easy
- RETAIL STORES
- $5,735,000 Change: -9% Conversion: Moderate
- WAREHOUSE, STORAGE
- $5,135,000 Change: -19% Conversion: Difficult
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-dade
- State
- Florida
- Longitude
- -80.2384
- Latitude
- 25.7617
- 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
$31,569
$1,062,500
$737,500
$1,800,000
-
$1,062,500
$737,500
$1,800,000
