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    Property profile & analytics

    2690 Coral Way Miami, FL 33145

    • Outlet malls
    • 14,065 SF
    • 3.16 lot acres
    For Sale
    View listing
    Last Sale
    Aug 30, 2021
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4077745
    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 Depot Tech Services / Tech Support Center / IT Consulting Firm
    • CDReload - Online Bitcoin ATM / Crypto Atm / Atm
    • FedEx / Corporate Office
    • Evelyn Capdevila / Physician
    • FedEx ShipSite / Postal Service / Courier Service

    Property Details for 2690 Coral Way

    Year built
    1995
    Construction
    CONCRETE
    Lot size
    3.16 lot acres
    Property size
    14,065 SF
    Zone code
    6101
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    01-4115-073-0050
    APU
    141150730050

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,650,000
      6.5%
      $7,060,000
      7%
      $6,555,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $8,045,000
      Current use
      RESTAURANT
      $10,430,000
      Change: +30% Conversion: Easy
      COMMERCIAL (GENERAL)
      $10,400,000
      Change: +29% Conversion: Easy
      AUTO REPAIR, GARAGE
      $9,195,000
      Change: +14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2372
    Latitude
    25.7499
    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
    $412,608
    $12,380,580
    $7,691,420
    $20,072,000
    -
    $12,380,580
    $7,691,420
    $20,072,000

    Comparable in this City

    • Value Estimation
      $1,795,000
      6,539 SF

      1721 32nd Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 6,539 SF
      1721 32nd Ave, Miami, FL 33145-1807
      View Details
    • Value Estimation
      $4,065,000
      16,330 SF

      2255 32nd Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 16,330 SF
      2255 32nd Ave, Miami, FL 33145-3177
      View Details
    • Value Estimation
      $1,395,000
      4,593 SF

      2231 Coral Way

      WHOLESALE OUTLET, DISCOUNT STORE • 4,593 SF
      2231 Coral Way, Miami, FL 33145-3508
      View Details
    • Value Estimation
      $2,140,000
      7,318 SF

      2239 Coral Way

      WHOLESALE OUTLET, DISCOUNT STORE • 7,318 SF
      2239 Coral Way, Miami, FL 33145-3508
      View Details
    • Value Estimation
      $1,680,000
      4,909 SF

      3100 Coral Way

      WHOLESALE OUTLET, DISCOUNT STORE • 4,909 SF
      3100 Coral Way, Miami, FL 33145-3210
      View Details
    • Value Estimation
      $1,505,000
      4,894 SF

      3160 Coral Way

      WHOLESALE OUTLET, DISCOUNT STORE • 4,894 SF
      3160 Coral Way, Miami, FL 33145-3210
      View Details

    Similar Nearby for Sale

    • $299,000

      Turnkey Restaurant in Coral Way

      Established Chinese restaurant in high-traffic Miami shopping center for sale.
      3301 Coral Way, Miami, FL 33145
      View Details
    • $2,499,000

      Coral Way Retail Opportunity

      Retail property on Coral Way near Downtown Miami and Brickell.
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    • $500,000

      Operating Supermarket on High-Traffic Corner

      Income-producing supermarket in residential area with high visibility.
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      Retail Space on Coral Way

      Retail property for sale along Coral Way & SW 27th Ave.
      2690 Coral Way, Miami, FL 33145
      View Details
    • $500,000
      1,626 SF

      Operating Supermarket on Corner Lot

      Income-producing retail property in residential neighborhood with high visibility.
      1540 SW 22Nd Ave, Miami, FL 33145
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,550 SF

      Retail Space in Miami District

      Retail space available in the heart of Miami's Commercial District.
      2648-2659 NW 20Th St, Miami, FL 33145
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    • Contact for pricing

      Prime Retail Space in Miami

      740 SF retail space in the heart of Miami.
      1501 SW 37Th Ave, Miami, FL 33145
      View Details
    • Contact for pricing
      1,070 SF

      Retail Space on Coral Way

      Retail space for rent in Coral Gables, Florida.
      2690 Coral Way, Coral Gables, FL 33145
      View Details
    • Contact for pricing

      Retail Spaces in Coral Gables

      Retail spaces available in new multifamily development, Coral Gables.
      1601 SW 32Nd Ave, Miami, FL 33145
      View Details
    • Contact for pricing

      Coral Gables Retail Spaces Available

      Prime retail spaces in new Coral Gables multifamily development.
      1601 SW 32Nd Ave, Miami, FL 33145
      View Details
    • $15,000 /Mo

      Stand-Alone Office Building on Coral

      Stand-alone office building on Coral Way, ideal for professional users.
      1875 SW 22Nd St, Miami, FL 33145
      View Details
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    2690 Coral Way
    Miami, FL 33145
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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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