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Property profile & analytics
OFF-MARKET
Estimated value
$29,045,000
Hotels
2940 Collins Ave Miami Beach, FL 33140-4105
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US19-0525355
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1935
Construction
CONCRETE
Total area
40,300 SF
Lot
0.22 ac (9,375 SF)
Zoning code
4000:MULTI-FAM,63-100 U/A
APN
02-3226-001-1110
UPID
US19-0525355
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$34.13M
Blend (final)
Blend
$29.05M
Owner & transaction history
Tmgoc Mia 2940 Collins LLC · 3 yrs held
Tmgoc Mia 2940 Collins LLC
since 2022
Last sale
$28.0M
7 recorded transactions
Zoning & alternative use
4000:MULTI-FAM,63-100 U/A · Miami Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$29.9M
+58.3%
Commercial (general)
$29.8M
+57.8%
Office building
$27.5M
+45.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Miami Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Miami Beach submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$26,040,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$18,885,000
Current use
RESTAURANT
$29,885,000
Change: +58% · Conversion: Difficult
COMMERCIAL (GENERAL)
$29,795,000
Change: +58% · Conversion: Difficult
OFFICE BUILDING
$27,490,000
Change: +46% · Conversion: Difficult
AUTO REPAIR, GARAGE
$26,350,000
Change: +40% · Conversion: Difficult
MEDICAL BUILDING
$17,700,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$29.05M
Range $26.14M – $31.95M · ±10% · vs last sale $28.00M (Sep 27 2022)
Last sale anchor
$28.00M
Sep 27 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$721 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$425,176
Tax year 2023
Assessed value
$22,500,000
Assessed 2023
Previous assessed
$11,000,000
+104.5% YoY
Effective rate
1.89%
On assessed value
Assessed land
$2,343,750
Assessed improvement
$20,156,250
Land market value
$2,343,750
Improvement market value
$20,156,250
Total market value
$22,500,000
Applied tax rate
200.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1935
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
8
Units
96
Bathrooms
100
Total area
40,300 SF
Lot
0.22 ac (9,375 SF)
Zoning code
4000:MULTI-FAM,63-100 U/A
APN
02-3226-001-1110
UPID
US19-0525355
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
4000:MULTI-FAM,63-100 U/A · Miami Beach, FL
Zoning 4000:MULTI-FAM,63-100 U/A · permitted uses
4000:MULTI-FAM,63-100 U/A · Miami Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Miami Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$18.9M
RESTAURANT
Est. value
$29.9M
COMMERCIAL (GENERAL)
Est. value
$29.8M
OFFICE BUILDING
Est. value
$27.5M
AUTO REPAIR, GARAGE
Est. value
$26.4M
MEDICAL BUILDING
Est. value
$17.7M
HOTEL/MOTEL Current
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1935
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
8
Units
96
Bathrooms
100
Lot
0.22 ac
Current owner
From public records · entity-resolved
Tmgoc Mia 2940 Collins LLC
Entity
Mailing address
2385 NW EXECUTIVE CTR DR STE #240, BOCA RATON, FL 33431-8511
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 27, 2022
$28,000,000
Tmgoc Mia 2940 Collins LLC
Royal Polo Hotel LLC
Special Warranty Deed
$20,245,222 · Synovus Bank
Dec 16, 2013
—
Royal Polo Hotel LLC
—
Deed Of Trust
related
$18,000,000 · Interbank Fsb
Jun 26, 2013
$12,500,000
Royal Polo Hotel LLC
Royal Polo Investors LLC
Grant Deed
—
Jun 1, 2005
$6,500,000
Royal Polo Investors LLC
New Matrix LLC
Grant Deed
—
Jun 6, 2001
$2,800,000
New Matrix LLC
2940 Collins Ave Corp
Grant Deed
$2,100,000 · B & M Management Co
—
—
Royal Polo Investors LLC
—
Deed Of Trust
related
$3,000,000 · Bank Of America
—
—
Royal Polo Investors LLC
—
Deed Of Trust
related
$2,000,000 · Bank Of America
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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