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

    2951 Virginia St Miami, FL 33133

    • Small apartment buildings
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0745884
    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

    • USA Supply Source LLC / Contractor

    Property Details for 2951 Virginia St

    Year built
    2008
    Property type
    Small apartment buildings

    Description

    This impeccably maintained 2008-built four-unit multifamily property in Miami's Coconut Grove offers a rare investment opportunity. The property comprises four two-story luxury townhomes, each featuring two bedrooms, two and a half bathrooms, and a private two-car garage. All units are currently leased. Interior amenities include open floor plans, impact glass windows, balconies in every room, modern kitchens equipped with stainless steel appliances, porcelain and engineered wood flooring in living areas, and in-unit laundry facilities. Window treatments are also included. Exterior features highlight two private gated entrances, attractive landscaping, and decorative lighting. The property's prime location provides convenient walking access to Cocowalk, local parks, shops, restaurants, a marina, and various bars. The asking price is $3,400,000. This is a turn-key investment in a highly desirable Miami neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2415406
    Latitude
    25.7358848

    Comparable in this City

    • $1,199,999

      South Bay Estates: Miami Multifamily

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    • $805,000

      Miami Duplex: Prime Investment Opportunity

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    • $2,200,000

      Luxury Coconut Grove Duplex

      Two 3/2.5 Townhomes, Prime Location
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    • $850,000

      Miami Duplex: Prime Location

      Two-unit investment property, tenant-occupied.
      3439 26Th St, Miami, FL 33133
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    • $1,490,000
      1,405 SF

      Coconut Grove Multifamily Investment

      Two-unit building, prime Coconut Grove location.
      2783 33Rd Ct, Miami, FL 33133
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    • $775,000
      1,608 SF

      Miami Duplex - Prime Location

      Charming duplex, high rental income, Coconut Grove.
      3199 26Th St, Miami, FL 33133
      View Details

    Similar Nearby for Sale

    • $1,199,999

      South Bay Estates: Miami Multifamily

      Prime Miami Multifamily Investment Opportunity
      2628 31St Pl, Miami, FL 33133
      View Details
    • $805,000

      Miami Duplex: Prime Investment Opportunity

      Two-unit apartment building, excellent location, strong rental demand.
      3605 26Th Ter, Miami, FL 33133
      View Details
    • $2,200,000

      Luxury Coconut Grove Duplex

      Two 3/2.5 Townhomes, Prime Location
      3156 Plaza St, Miami, FL 33133
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    • $850,000

      Miami Duplex: Prime Location

      Two-unit investment property, tenant-occupied.
      3439 26Th St, Miami, FL 33133
      View Details
    • $1,490,000
      1,405 SF

      Coconut Grove Multifamily Investment

      Two-unit building, prime Coconut Grove location.
      2783 33Rd Ct, Miami, FL 33133
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    • $775,000
      1,608 SF

      Miami Duplex - Prime Location

      Charming duplex, high rental income, Coconut Grove.
      3199 26Th St, Miami, FL 33133
      View Details

    Similar Nearby for Lease

    • $2,250 /Mo

      Remodeled Condo Near US1

      Remodeled, furnished one-bedroom condo near Brickell and Coconut Grove.
      2655 SW 24Th Ave, Miami, FL 33133
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    • $5,200 /Mo

      New Coconut Grove Residence

      Modern 2 bedroom, 2.5 bathroom residence in Coconut Grove.
      3265 Bird Ave, Miami, FL 33133
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    • $2,900 /Mo

      Renovated Apartment Near Coral Gables

      Renovated 3-bedroom apartment with in-unit laundry and parking.
      3161 SW 27Th Ln, Miami, FL 33133
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    • $1,750 /Mo

      Remodeled One-Bedroom Apartment For Rent

      Spacious, bright, remodeled 1-bedroom, 1-bathroom apartment in a great location.
      2734 SW 30Th Ct, Miami, FL 33133
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    • $4,400 /Mo

      Charming Bohemian Haven Apartment

      Remodeled apartment near city attractions, restaurants, and shops.
      2761 SW 33Rd Ave, Miami, FL 33133
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    • $2,200 /Mo

      Clean One-Bedroom Apartment Near Gables

      Charming 1-bedroom apartment with modern finishes and private laundry.
      2638 SW 30Th Ct, Miami, FL 33133
      View Details
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    2951 Virginia St
    Miami, FL 33133
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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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