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

    3133 Commodore Plz Miami, FL 33133-5817

    • Outlet malls
    • 3,115 SF
    • 0.11 lot acres
    OFF-MARKET
    Value Estimations
    $1,320,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1921519
    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

    • The Showroom / Boutique

    Property Details for 3133 Commodore Plz

    Year built
    1950
    Construction
    CONCRETE
    Lot size
    0.11 lot acres
    Property size
    3,115 SF
    Zone code
    6101
    Property type
    Outlet malls
    APN
    01-4121-047-0430
    APU
    141210470430

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,695,000
      6.5%
      $1,565,000
      7%
      $1,450,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $914,000
      Market price range: $321k - $1.27M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,850,000
      Current use
      AUTO REPAIR, GARAGE
      $2,035,000
      Change: +10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2442
    Latitude
    25.7275
    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
    $32,327
    $1,500,000
    $164,972
    $1,664,972
    -
    $1,500,000
    $164,972
    $1,664,972

    Comparable in this City

    • Value Estimation
      $1,765,000
      4,876 SF

      3206 Grand Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 4,876 SF
      3206 Grand Ave, Miami, FL 33133-5011
      View Details
    • Value Estimation
      $7,155,000
      21,897 SF

      Coral Gables, FL 33133

      WHOLESALE OUTLET, DISCOUNT STORE • 21,897 SF
      Coral Gables, FL 33133
      View Details
    • Value Estimation
      $3,995,000
      10,090 SF

      Coral Gables, FL 33133

      WHOLESALE OUTLET, DISCOUNT STORE • 10,090 SF
      Coral Gables, FL 33133
      View Details
    • Value Estimation
      $7,765,000
      30,447 SF

      3324 Virginia St

      WHOLESALE OUTLET, DISCOUNT STORE • 30,447 SF
      3324 Virginia St, Miami, FL 33133-5220
      View Details
    • Value Estimation
      $1,485,000
      5,520 SF

      2638 28th Ln

      WHOLESALE OUTLET, DISCOUNT STORE • 5,520 SF
      2638 28th Ln, Miami, FL 33133-3135
      View Details
    • Value Estimation
      $2,275,000
      6,964 SF

      3117 Bird Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 6,964 SF
      3117 Bird Ave, Miami, FL 33133-4427
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Space in Prime Location

      Neighborhood plaza on US 1 between Coconut Grove and Coral Gables.
      2750 26Th Ave, Miami, FL 33133
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      Coconut Grove Retail Beauty Salon

      Retail space in Coconut Grove neighborhood, suitable for beauty salon.
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      Pending

      Residential Lot in Miami

      Versatile residential lot for parking or lawn expansion.
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      View Details
    • $5,200,000

      Prime Coconut Grove Restaurant

      High-Profit Italian Eatery, $5.2M
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      Retail Space at Grove Marina

      Retail space for lease at Grove Marina.
      3385 Pan American Dr, Miami, FL 33133
      View Details
    • $13,990,000
      30,000 SF

      Retail Property with High Traffic

      Retail property featuring high traffic and three-phase electrical capacity.
      2640-2646 SW 28Th St, Miami, FL 33133
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,458 SF

      Retail Space in Coconut Grove

      Two-story retail/office space in a tourist destination.
      3000 Florida Ave, Miami, FL 33133
      View Details
    • Contact for pricing
      270,087 SF

      ZOI House Retail Space for Lease

      Prime Coconut Grove Retail Opportunity
      2900 28Th Ln, Miami, FL 33133
      View Details
    • $0.06 SF/Yr
      7,134 SF

      Miami Warehouse: 7,134 SF

      Single-tenant warehouse, prime Miami location.
      3001 28Th Ln, Miami, FL 33133
      View Details
    • $7,500 /Mo

      3111 Commodore Plaza

      BEST RETAILSPACE IN COCONUT GROVE
      3111 Commodoore Plz, Coconut Grove, FL 33133
      View Details
    • $120 SF/Yr
      2,167 SF

      Prime Retail Space in Miami

      Highly visible retail space in a desirable Miami location.
      3418 Main Hwy, Miami, FL 33133
      View Details
    • $120 SF/Yr
      2,167 SF

      Retail Space Available For Rent

      Retail space available for lease in Miami, Florida.
      3432 Main Hwy, Miami, FL 33133
      View Details
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    3133 Commodore Plz
    Miami, FL 33133-5817
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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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