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    2755 119th St Miami, FL 33167-2501

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    2755 119th St Miami, FL 33167-2501

    View on Map
    • Gas stations
    • 9,070 SF
    • 1.10 lot acres
    Off-Market
    Last Sale Feb 23, 2025
    $5,000,000
    Property ID
    US18-3364452
    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
    $4,755,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Marathon Gas Station / Gas Station
    • CHEVRON / Gas Station
    • ATM / Atm

    Property Details for 2755 119th St

    Year built
    1997
    Construction
    CONCRETE
    Lot size
    1.10 lot acres
    Property size
    9,070 SF
    Zone code
    6174
    Property type
    Gas stations
    APN
    30-2128-028-0920
    APU
    3021280280920

    Description

    This exceptional 1-acre (43,143 sq ft) commercial land parcel in Miami-Dade County, Florida (33167), at 2755 NW 119th St, offers approved plans for a 168-unit multifamily development. Zoned UC-MC, it allows for a building height of up to 12 stories within the urban mixed-use development boundary. The site boasts a highly visible location on NW 119th Street, a major thoroughfare connecting West Miami-Dade to I-95, with an average daily traffic count of 82,000 vehicles at the nearby signalized intersection. Its strategic location is enhanced by proximity to a newly constructed Amazon fulfillment center, the Eastview Commerce Center (800,000 sq ft), and Miami-Dade College North Campus. The area is experiencing significant growth, with over one million square feet of newly developed distribution facilities and the upcoming construction of a 120,000 sq ft K-12 school, further increasing the demand for housing. This shovel-ready site, upon permit approval, presents a unique opportunity for developers seeking a streamlined path to construction. The asking price is $4,750,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,262,000
      Market price range: $4.26M - $11.6M

    • Alternative Use

      Use
      Estimation
      SERVICE STATION (FULL SERVICE)
      $7,390,000
      Current use
      RESTAURANT
      $6,725,000
      Change: -9% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $6,705,000
      Change: -9% Conversion: Difficult
      OFFICE BUILDING
      $6,185,000
      Change: -16% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $5,930,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2452
    Latitude
    25.8833
    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
    $23,506
    $716,955
    $667,300
    $1,384,255
    -
    $716,955
    $667,300
    $1,384,255

    Comparable in this City

    • Value Estimation by Request
      5,636 SF

      1634 119th St

      SERVICE STATION (FULL SERVICE) • 5,636 SF
      1634 119th St, Miami, FL 33167-3120
      View Details
    • Value Estimation
      $2,115,000
      4,544 SF

      13475 27th Ave

      SERVICE STATION (FULL SERVICE) • 4,544 SF
      13475 27th Ave, Miami, FL 33167-1337
      View Details
    • Value Estimation by Request
      1,887 SF

      1495 119th St

      SERVICE STATION (FULL SERVICE) • 1,887 SF
      1495 119th St, North Miami, FL 33167-3235
      View Details
    • Value Estimation
      $2,775,000
      6,156 SF

      11301 27th Ave

      SERVICE STATION WITH FOOD MART • 6,156 SF
      11301 27th Ave, Miami, FL 33167-3417
      View Details
    • Value Estimation by Request
      6,336 SF

      11895 27th Ave

      SERVICE STATION WITH FOOD MART • 6,336 SF
      11895 27th Ave, Miami, FL 33167-2607
      View Details
    • Value Estimation
      $865,000
      16,150 SF

      11700 Golf Dr

      SERVICE STATION WITH FOOD MART • 16,150 SF
      11700 Golf Dr, Miami, FL 33167-2647
      View Details

    Similar Nearby for Sale

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      North Miami Gas Station Opportunity

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      Miami Commercial Corner Lot

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      Miami Commercial Corner Opportunity

      High-intensity commercial corner ready for immediate use in Miami.
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      10,668 SF

      High-Intensity Commercial Corner in Miami

      10,668 SF vacant commercial land with office hub.
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    Similar Nearby for Lease

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      10,926 SF

      Riverfront Space with High Ceilings

      Unique waterfront space with 30-foot ceilings and outdoor seating.
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      Industrial Space with Gratigny Exposure

      Warehouse space with frontage to NW 119th Street.
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      Spacious Warehouse with Office Space

      280,701 SF warehouse with office, rail access, and parking.
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      Spacious Warehouse with Rail Access

      208,701 SF warehouse with rail access near major transportation.
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      Office/Industrial Single Tenant Space

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      View Details
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    Miami, FL 33167-2501
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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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