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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2916 Miami Ave Miami, FL 33127-3962

    • Office buildings
    • 418,337 SF
    • 1.11 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2649597
    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

    • Royalty Auto Wash - Premium Carwash & Auto Detailing / Car Wash
    • Marcus & Millichap / Real Estate Agency
    • Tentho / Accounting Firm / Tax Preparation
    • SemaConnect Charging Station / Electric Vehicle Charging Station
    • Mindspace Wynwood / Coworking & Hybrid Office

    Property Details for 2916 Miami Ave

    Year built
    2021
    Construction
    CONCRETE
    Lot size
    1.11 lot acres
    Property size
    418,337 SF
    Zone code
    6100:COMMERCIAL,NEIGHBRHD
    Property type
    Office buildings
    APN
    01-3125-028-0850
    APU
    131250280850

    Description

    The Gateway at Wynwood offers exceptional executive office space in Miami's vibrant Wynwood neighborhood. This new development boasts a total of 24,041 square feet of retail and office space, situated at 2916 N Miami Ave, Miami, FL 33127. The building features eight stories and offers multiple tenancy options, with a minimum divisible space of 4,912 square feet and a maximum contiguous space of 5,247 square feet. Currently, there is 15,087 square feet of vacant space available, perfect for businesses seeking flexible and modern office solutions. The property's strategic location at the intersection of NW 29th Street and N Miami Avenue provides excellent visibility and accessibility. Units feature impressive 20-foot ceilings, creating a spacious and inspiring work environment. The building's design caters to a variety of business needs, including executive offices, strip centers, and restaurants. This is a rare opportunity to secure prime commercial real estate in one of Miami's most sought-after areas. Don't miss out on this chance to establish your business in a thriving and dynamic location. Contact us today to learn more about available spaces and lease terms. This property is located in Miami-Dade County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $78,059,000
      Market price range: $24.6M - $172M

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1955
    Latitude
    25.8045
    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
    $1,631,293
    $13,674,550
    $95,825,450
    $109,500,000
    -
    $13,674,550
    $95,825,450
    $109,500,000

    Comparable in this City

    • Value Estimation
      $995,000
      2,756 SF

      3526 Miami Ave

      OFFICE BUILDING (MULTI-STORY) • 2,756 SF
      3526 Miami Ave, Miami, FL 33127-3112
      View Details
    • Value Estimation by Request
      762 SF

      3401 Miami Ave Ste, Unit 201

      OFFICE BUILDING (MULTI-STORY) • 762 SF
      3401 Miami Ave Ste, Miami, FL 33127-3544
      View Details
    • Value Estimation by Request
      762 SF

      3401 Miami Ave Ste, Unit 207

      OFFICE BUILDING (MULTI-STORY) • 762 SF
      3401 Miami Ave Ste, Miami, FL 33127-3544
      View Details
    • Value Estimation by Request
      762 SF

      3401 Miami Ave Ste, Unit 208

      OFFICE BUILDING (MULTI-STORY) • 762 SF
      3401 Miami Ave Ste, Miami, FL 33127-3544
      View Details
    • Value Estimation by Request
      762 SF

      3401 Miami Ave Ste, Unit 234

      OFFICE BUILDING (MULTI-STORY) • 762 SF
      3401 Miami Ave Ste, Miami, FL 33127-3546
      View Details
    • Value Estimation by Request
      762 SF

      3401 Miami Ave Ste, Unit 236

      OFFICE BUILDING (MULTI-STORY) • 762 SF
      3401 Miami Ave Ste, Miami, FL 33127-3546
      View Details

    Similar Nearby for Sale

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      Prime Miami Commercial Land Assemblage

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    • $1,100,000
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      Office or Retail in Revitalizing Neighborhood

      Office or retail property in a high-traffic, revitalizing area.
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      Miami Office Building: Prime Location

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    Similar Nearby for Lease

    • $0.19 SF/Yr
      3,000 SF

      Wynwood Warehouse: Creative Office Space

      Modern Wynwood warehouse; 3,000 sq ft, 4 parking spaces.
      123 23Rd St, Miami, FL 33127
      View Details
    • Contact for pricing
      330 SF

      Miami Office Space For Rent

      Office space for rent including utilities and common area amenities.
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      View Details
    • $45 SF/Yr
      5,856 SF

      Office Space in Miami, FL

      5,856 SF office space available for lease.
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      View Details
    • $1.65 SF/Yr
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      Wynwood Loft Office Space For Lease

      40,000 SF Industrial Loft Office
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      View Details
    • $35 SF/Yr
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      Wynwood Creative Flex Space

      Miami Flex Space: 1,100 - 10,300 SF
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      View Details
    • $24 SF/Yr
      11,193 SF

      Allapattah Retail Center Investment

      High-traffic retail space, Miami, FL
      900 36Th St, Miami, FL 33127
      View Details
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    2916 Miami Ave
    Miami, FL 33127-3962
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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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