Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2951 27th Ave Miami, FL 33142-6540

    • Parking lots & garages
    • 0.15 lot acres
    OFF-MARKET
    Last Sale
    May 22, 2023
    $3,500,000
    Value Estimations
    $2,840,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5894642
    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

    • Ocean Auto Sales / Used Car Dealer

    Property Details for 2951 27th Ave

    Year built
    1971
    Lot size
    0.15 lot acres
    Zone code
    6100:COMMERCIAL,NEIGHBRHD
    Property type
    Parking lots & garages
    APN
    01-3127-016-1250
    APU
    131270161250

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,840,000
      ML approach
      $2,835,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2392
    Latitude
    25.8033
    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
    $4,563
    $371,250
    $8,276
    $379,526
    -
    $371,250
    $8,276
    $379,526

    Comparable in this City

    • Value Estimation
      $300,000
      0.43 Acres

      1251 23rd St

      PARKING LOT • 0.43 Acres
      1251 23rd St, Miami, FL 33142
      View Details
    • Value Estimation
      $235,000
      0.39 Acres

      3635 34th St

      PARKING LOT • 0.39 Acres
      3635 34th St, Miami, FL 33142
      View Details
    • Value Estimation
      $255,000
      0.31 Acres

      2025 36th St

      PARKING LOT • 0.31 Acres
      2025 36th St, Miami, FL 33142-5429
      View Details
    • Value Estimation
      $290,000
      0.20 Acres

      2301 17th Ave

      PARKING LOT • 0.20 Acres
      2301 17th Ave, Miami, FL 33142
      View Details
    • Value Estimation
      $455,000
      1.52 Acres

      Miami, FL 33142

      PARKING LOT • 1.52 Acres
      Miami, FL 33142
      View Details
    • Value Estimation
      $285,000
      0.06 Acres

      Miami, FL 33142

      PARKING LOT • 0.06 Acres
      Miami, FL 33142
      View Details

    Similar Nearby for Sale

    • $99,900

      Commercial Lot in Evolving District

      2,813 Sq.Ft. lot with versatile development potential.
      1485 NW 54Th St, Miami, FL 33142
      View Details
    • $1,300,000

      Operating Car Dealership on 36th

      Commercial lot with active car dealership on NW 36th Street.
      3634 NW 36Th St, Miami, FL 33142
      View Details
    • $99,000

      Established Car Rental Near Airport

      Car rental business opportunity near Miami International Airport.
      4121 NW 25Th St, Miami, FL 33142
      View Details
    • $1,200,000

      Miami Automotive Shop For Sale

      Commercial building suitable for automotive or mixed-use development.
      2112 NW 36Th St, Miami, FL 33142
      View Details
    • $6,500,000
      14,225 SF

      Single-Tenant Industrial Property in Miami

      Single-tenant industrial property with 14,225 SF rentable area.
      2355 NW 35Th Ave, Miami, FL 33142
      View Details
    • $2,300,000

      Automotive Repair Shop Near Casino

      Commercial property near Hialeah Park Casino, currently an auto shop.
      3200 NW 54Th St, Miami, FL 33142
      View Details

    Similar Nearby for Lease

    • $2,300 /Mo

      Office Space with Parking Included

      Office space with parking, car wash, ideal for car-related businesses.
      3990 NW 26Th St, Miami, FL 33142
      View Details
    • $7,000 /Mo

      Miami Industrial Stand-Alone Building

      Stand-alone commercial building suitable for automotive, retail, warehouse, or manufacturing.
      2112 NW 36Th St, Miami, FL 33142
      View Details
    • $5 SF/Yr
      861 SF

      Miami Retail Space For Lease

      High-traffic, 861 sq ft warehouse
      4647 17Th Ave, Miami, FL 33142
      View Details
    • $3,000 /Mo

      Allapattah Retail Space For Rent

      Renovated retail space with frontage on NW 20th Street.
      2494 NW 20Th St, Miami, FL 33142
      View Details
    • $3,875 /Mo
      1,500 SF

      Adaptable Space in Growing Submarket

      1,500 SF space suitable for retail, creative, or office uses.
      2100 NW 22Nd Ct, Miami, FL 33142
      View Details
    • $4,000 /Mo
      3,444 SF

      Retail Space on NW 36th

      Retail space in high-traffic Allapattah corridor, minutes from Wynwood.
      2284 Nw 36Th St, Miami, FL 33142
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2951 27th Ave
    Miami, FL 33142-6540
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.