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

    3055 5Th Ave Miami, FL 33127

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1673413
    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

    • Commercial real estate

    Property Details for 3055 5Th Ave

    Property type
    Commercial real estate

    Description

    This exceptional 10,000+ square foot corner lot, located at 3055 NW 5th Ave in Miami, Florida (zip code 33127), presents a remarkable opportunity for multifamily development. Situated in the highly desirable Wynwood Norte neighborhood, this property boasts a prime location on a coveted avenue. The lot is fully fenced and benefits from recently approved zoning allowing for up to 150 units per acre, or up to 38 units on this specific parcel. The zoning permits the construction of a five-story building, making it ideal for a high-density residential project. The property's strategic location offers convenient walkability to the Design District, Midtown Stores, and the vibrant Wynwood Art scene. While the property is currently zoned for multifamily development, it is important to note that the potential buyer should conduct their own due diligence to verify all zoning and development regulations. The asking price for this exceptional development opportunity is $2,500,000. Serious inquiries only, with proof of funds required. Please respect the privacy of current occupants and refrain from disturbing them.

    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
    -80.2030015
    Latitude
    25.8054253

    Comparable in this City

    • $5,990,000

      Wynwood Development Opportunity

      Prime Wynwood lot, high income potential.
      60 20Th St, Miami, FL 33127
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    • $450,000

      Allapattah Vacant Lot - Miami, FL

      Prime Allapattah development opportunity.
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    • $2,500,000

      Miami Wynwood Development Opportunity

      Prime Wynwood location, high-density zoning.
      154 30Th St, Miami, FL 33127
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    • $895,000

      Miami Commercial Lot Investment

      Prime Miami location, 14,945 sq ft, commercial zoning.
      1171 54Th St, Miami, FL 33127
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    • $3,795,000
      9,918 SF

      Buena Vista Development Opportunity

      Flexible zoning in a vibrant neighborhood for mixed-use development.
      5110 Nw 2Nd Ave, Miami, FL 33127
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    • $2,200,000
      0.27 Acres

      Miami Commercial Building Investment Opportunity

      Commercial building in Miami's growing submarket, ideal for redevelopment.
      2223 NW 7Th Ave, Miami, FL 33127
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    Similar Nearby for Sale

    • $1,650,000

      Wynwood Norte Development Opportunity

      8-Story Mixed-Use Potential, Prime Location
      346 36Th St, Miami, FL 33127
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    • $5,990,000

      Wynwood Development Opportunity

      Prime Wynwood lot, high income potential.
      60 20Th St, Miami, FL 33127
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    • $450,000

      Allapattah Vacant Lot - Miami, FL

      Prime Allapattah development opportunity.
      1101 25Th St, Miami, FL 33127
      View Details
    • $2,500,000

      Miami Wynwood Development Opportunity

      Prime Wynwood location, high-density zoning.
      154 30Th St, Miami, FL 33127
      View Details
    • $895,000

      Miami Commercial Lot Investment

      Prime Miami location, 14,945 sq ft, commercial zoning.
      1171 54Th St, Miami, FL 33127
      View Details
    • $3,795,000
      9,918 SF

      Buena Vista Development Opportunity

      Flexible zoning in a vibrant neighborhood for mixed-use development.
      5110 Nw 2Nd Ave, Miami, FL 33127
      View Details

    Similar Nearby for Lease

    • $0.02 SF/Yr
      30,000 SF

      Wynwood Norte Mixed-Use Opportunity

      30,000 SF Open Concept Space
      3422 5Th Ave, Miami, FL 33127
      View Details
    • Contact for pricing

      Prime Miami Commercial Lot

      10,000 sq ft paved lot, ready for business
      700 48Th St, Miami, FL 33127
      View Details
    • $112 SF/Yr
      1,500 SF

      Prime Miami Special Purpose Space

      1,500 sq ft, single-tenant, Wynwood proximity.
      346 36Th St, Miami, FL 33127
      View Details
    • $360 /Mo
      6,430 SF

      Miami Retail Space for Lease

      Allapattah Hair Salon Opportunity
      4500 2Nd Ave, Miami, FL 33127
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    • $36 SF/Yr
      2,650 SF

      Historic Miami Villa: Prime Location

      Unique 5-bed, 2-bath property, 2,650 sq ft.
      5811 Miami Ave, Miami, FL 33127
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    • $43 SF/Yr
      690 SF

      Miami Retail Space: 7th Ave Gem

      Prime Miami retail space, 689 sq ft.
      5020 7Th Ave, Miami, FL 33127
      View Details
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    3055 5Th Ave
    Miami, FL 33127
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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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