Add Listing
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

    3002 NW 7Th Ave Miami, FL 33127

    • Retail residential properties
    • 1,170 SF
    • 0.11 lot acres
    For Sale
    View listing
    $2,800,000
    Last Sale
    May 22, 2020
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2625210
    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

    • Tipico Hondureño / Restaurant

    Property Details for 3002 NW 7Th Ave

    Year built
    1928
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.11 lot acres
    Property size
    1,170 SF
    Zone code
    4801:RESID-LIMITED RETAIL
    Property type
    Retail residential properties
    APN
    01-3126-005-0010
    APU
    131260050010

    Description

    This exceptional 15,500 sq. ft. commercial land assemblage in Miami, Florida, presents a compelling investment opportunity. Located at 3002 NW 7th Ave, Miami, FL 33127, this four-folio property includes an existing 3,500 sq. ft. building, offering immediate potential for redevelopment or repurposing. The property's strategic location within both a Rapid Transit Zone and an Opportunity Zone provides significant advantages. The Rapid Transit Zone access ensures excellent connectivity and accessibility, while the Opportunity Zone designation unlocks valuable tax incentives, substantially enhancing the return on investment. This combination of location, size, and potential tax benefits makes this property a highly attractive proposition for developers seeking to capitalize on Miami's dynamic real estate market. The property is priced at $2,900,000 and offers substantial density potential, allowing for a wide range of development possibilities. This is a rare chance to acquire a significant land parcel in a rapidly growing area of Miami-Dade County. The existing building provides immediate income potential or a platform for a phased development approach. Serious inquiries are encouraged.

    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
    -80.2076
    Latitude
    25.805
    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
    $6,575
    $283,800
    $66,472
    $350,272
    -
    $283,800
    $66,472
    $350,272

    Comparable in this City

    • Value Estimation
      $5,365,000
      17,008 SF

      2215 2nd Ave

      STORES & APARTMENTS • 17,008 SF
      2215 2nd Ave, Miami, FL 33127-4828
      View Details
    • Value Estimation
      $21,765,000
      367,056 SF

      90 29th St

      STORES & APARTMENTS • 367,056 SF
      90 29th St, Miami, FL 33127-4030
      View Details
    • Value Estimation
      $620,000
      2,597 SF

      159 36th St

      STORES & APARTMENTS • 2,597 SF
      159 36th St, Miami, FL 33127-3107
      View Details
    • Value Estimation
      $1,835,000
      7,055 SF

      2300 2nd Ave

      STORES & APARTMENTS • 7,055 SF
      2300 2nd Ave, Miami, FL 33127-4302
      View Details
    • Value Estimation
      $700,000
      2,585 SF

      235 35th St

      STORES & APARTMENTS • 2,585 SF
      235 35th St, Miami, FL 33127-3438
      View Details
    • Value Estimation
      $550,000
      1,647 SF

      2330 5th Ave

      STORES & APARTMENTS • 1,647 SF
      2330 5th Ave, Miami, FL 33127-4310
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      New Retail Space in Allapattah

      Ground-floor retail space in a mixed-use building in a growing neighborhood.
      1120 Nw 29Th St, Miami, FL 33127
      View Details
    • $1,700,000
      Pending

      Mixed-Use Property in Miami

      Mixed-use property in a great Miami location.
      3811 NW 2Nd Ave, Miami, FL 33127
      View Details
    • Contact for pricing

      Modern Industrial Live-Work Loft

      Modern industrial loft in Miami's Creative District.
      250 NW 23 405, Miami, FL 33127
      View Details
    • $700,000

      Wynwood Loft Building - Miami, FL

      Prime Wynwood mixed-use investment opportunity.
      250 23Rd St, Miami, FL 33127
      View Details
    • $650,000
      0.13 Acres

      Wynwood Norte Development Opportunity

      Mixed-use development opportunity in Wynwood Norte with existing billboard income.
      321 NW 37Th St, Miami, FL 33127
      View Details
    • $1,350,000

      Wynwood Mixed-Use Investment Opportunity

      Dual-address corner lot with income potential in Wynwood North.
      203 NW 35Th St, Miami, FL 33127
      View Details

    Similar Nearby for Lease

    • $4,100 /Mo

      Remodeled Live/Work Space in Miami

      Fully remodeled live/work space near Miami Design District.
      181 NW 44Th St, Miami, FL 33127
      View Details
    • $2,200 /Mo

      Miami 3-Bedroom Unit For Rent

      Charming 3-bedroom unit near Miami Design District.
      182 NW 51St St, Miami, FL 33127
      View Details
    • $37 SF/Yr
      4,700 SF

      Miami Retail Shops on NW 2nd Ave

      High-visibility retail space, Miami, FL
      5901 2Nd Ave, Miami, FL 33127
      View Details
    • $6,500 /Mo

      Freestanding Retail Building For Lease

      High-visibility corner retail building in Miami available for lease.
      4340 NW 7Th Ave, Miami, FL 33127
      View Details
    • $0.22 SF/Yr
      3,000 SF

      Miami Restaurant - 3000 SF

      Prime Miami restaurant space, single tenant, 3000 sq ft.
      791 20Th St, Miami, FL 33127
      View Details
    • $1.18 SF/Yr
      40,068 SF

      Wynwood Loft Office Space For Lease

      Spacious Wynwood office, perfect live/work.
      250 23Rd St, Miami, FL 33127
      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.
    3002 NW 7Th Ave
    Miami, FL 33127
    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.
    Sign Up Successful!
    You now have access to more from Realmo!