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    2645 37th Ave Ste, Unit 601 Miami, FL 33133-2745
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    Property profile & analytics

    2645 37th Ave Ste, Unit 601 Miami, FL 33133-2745

    View on Map
    • Office buildings
    • 3,079 SF
    Off-Market
    Last Sale Sep 14, 2021
    $2,100,000
    Property ID
    US18-9396224
    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.
    Value Estimations
    $2,265,000
    Show details
    Cap Rate Potential
    2.7%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Coral Gables Dental Arts / Dental Office

    Property Details for 2645 37th Ave Ste

    Year built
    1985
    Property size
    3,079 SF
    Zone code
    5700:DUPLEXES,GENERAL
    Property type
    Office buildings
    APN
    01-4116-123-0050
    APU
    141161230050

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,570,000
      6.5%
      $1,450,000
      7%
      $1,345,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,139,000
      Market price range: $1.47M - $4.50M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,695,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2539
    Latitude
    25.7423
    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
    $20,923
    $0.00
    $0.00
    $1,231,600
    -
    $0.00
    $0.00
    $1,231,600

    Comparable in this City

    • Value Estimation
      $2,655,000
      2,814 SF

      2665 Bayshore Dr Ste, Unit 500

      OFFICE BUILDING (MULTI-STORY) • 2,814 SF
      2665 Bayshore Dr Ste, Miami, FL 33133-5462
      View Details
    • Value Estimation
      $1,785,000
      1,891 SF

      2665 Bayshore Dr Ste, Unit 605

      OFFICE BUILDING (MULTI-STORY) • 1,891 SF
      2665 Bayshore Dr Ste, Miami, FL 33133-5401
      View Details
    • Value Estimation
      $1,225,000
      1,587 SF

      2601 Bayshore Dr Ste, Unit 700

      OFFICE BUILDING (MULTI-STORY) • 1,587 SF
      2601 Bayshore Dr Ste, Miami, FL 33133-5413
      View Details
    • Value Estimation
      $2,255,000
      3,024 SF

      2601 Bayshore Dr Ste, Unit 725

      OFFICE BUILDING (MULTI-STORY) • 3,024 SF
      2601 Bayshore Dr Ste, Miami, FL 33133-5419
      View Details
    • Value Estimation
      $1,490,000
      1,930 SF

      2601 Bayshore Dr Ste, Unit 2020

      OFFICE BUILDING (MULTI-STORY) • 1,930 SF
      2601 Bayshore Dr Ste, Miami, FL 33133-5413
      View Details
    • Value Estimation
      $2,440,000
      3,275 SF

      2601 Bayshore Dr Ste, Unit 410

      OFFICE BUILDING (MULTI-STORY) • 3,275 SF
      2601 Bayshore Dr Ste, Miami, FL 33133-5413
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      15,535 SF

      Renovated Class A Office Building

      Class A office building in Silver Bluff Estates neighborhood.
      2525 Sw 27Th Ave, Miami, FL 33133
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      Iconic Building on South Dixie

      Office and retail spaces with high visibility and parking.
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      Coconut Grove Mixed-Use Development Opportunity

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    • $8,000,000

      Shovel Ready Coconut Grove Office

      Fully entitled office development opportunity in the heart of Coconut Grove.
      2940 Oak Ave, Miami, FL 33133
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    Similar Nearby for Lease

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      100,000 SF

      Coconut Grove Office Space

      Office building in Coconut Grove available for lease.
      3101 Grand Ave, Coconut Grove, FL 33133
      View Details
    • Contact for pricing
      1,079 SF

      Luxury Office and Retail Space

      New construction office and retail space in Coconut Grove.
      3441 Grand Ave, Miami, FL 33133
      View Details
    • $0.02 SF/Yr
      28,560 SF

      Miami Office Space: 28,560 SF

      Prime Miami office, available June 1st, 2025. Single-tenant occupancy.
      2937 27Th Ave, Miami, FL 33133
      View Details
    • Contact for pricing

      Flexible Workspace Solutions Available

      Global network of workspaces with flexible options for rent.
      3350 Virginia St, Miami, FL 33133
      View Details
    • Contact for pricing
      9,809 SF

      Miami Office Space Available

      9,818 SF office space for rent in Miami.
      2871 Oak Ave, Miami, FL 33133
      View Details
    • $60 SF/Yr

      Prime Coconut Grove Office Space

      Exceptional office space in a vibrant, historic Coconut Grove.
      3350 Mary St, Coconut Grove, FL 33133
      View Details
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    2645 37th Ave Ste, Unit 601
    Miami, FL 33133-2745
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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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