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Property profile & analytics
OFF-MARKET
Estimated value
$630,000
Bars & Pubs
323 23rd St Miami Beach, FL 33139-1715
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US18-1533347
Property profile
Verified
Property type
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Year built
1925
Construction
CONCRETE
Total area
4,362 SF
Lot
0.2 ac (8,890 SF)
Zoning code
6600:COMMERCIAL,LIBERAL
APN
02-3226-001-0540
UPID
US18-1533347
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$505k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$753k
Blend (final)
Blend
$630k
Owner & transaction history
323 Sobe LLC · 11 yrs held
323 Sobe LLC
since 2015
6 recorded transactions
Zoning & alternative use
6600:COMMERCIAL,LIBERAL · Miami Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$890,000
+79.2%
Auto repair, garage
$675,000
+35.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Miami Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Miami Beach submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$505,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NIGHTCLUB (COCKTAIL LOUNGE)
$495,000
Current use
RETAIL STORES
$890,000
Change: +79% · Conversion: Difficult
AUTO REPAIR, GARAGE
$675,000
Change: +36% · Conversion: Difficult
COMMERCIAL (GENERAL)
$410,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$630k
Range $567k – $693k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$144 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$46,120
Tax year 2023
Assessed value
$2,440,626
Assessed 2023
Previous assessed
$2,440,851
0.0% YoY
Effective rate
1.89%
On assessed value
Assessed land
$2,222,500
Assessed improvement
$218,126
Land market value
$2,222,500
Improvement market value
$218,126
Total market value
$2,440,626
Applied tax rate
200.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Status
Off-Market
Year built
1925
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
4,362 SF
Lot
0.2 ac (8,890 SF)
Zoning code
6600:COMMERCIAL,LIBERAL
APN
02-3226-001-0540
UPID
US18-1533347
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6600:COMMERCIAL,LIBERAL · Miami Beach, FL
Zoning 6600:COMMERCIAL,LIBERAL · permitted uses
6600:COMMERCIAL,LIBERAL · Miami Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Miami Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NIGHTCLUB (COCKTAIL LOUNGE) Current
Est. value
$495,000
RETAIL STORES
Est. value
$890,000
AUTO REPAIR, GARAGE
Est. value
$675,000
COMMERCIAL (GENERAL)
Est. value
$410,000
NIGHTCLUB (COCKTAIL LOUNGE) Current
RETAIL STORES
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1925
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.2 ac
Current owner
From public records · entity-resolved
323 Sobe LLC
Entity
Mailing address
7757 WOOD DUCK DR, BOCA RATON, FL 33434-5143
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2025
—
323 Sobe LLC
—
Deed
related
$3,500,000 · Stanley Freundlich Etux
Jul 20, 2022
—
323 Sobe LLC
—
Deed
related
$3,450,000 · Verus Capital Corp
Nov 9, 2021
—
323 Sobe LLC
—
Deed
related
$465,000 · Yarden Consulting LLC
May 6, 2015
$3,250,000
323 Sobe LLC
Teran Myriam
Warranty Deed
$3,500,000 · Stanley & Judith Freundlich
Dec 28, 2000
$235,000
Myriam Teran
Teran INC
Grant Deed
related
—
—
—
Myriam Teran
—
Deed Of Trust
related
$25,000 · John Cunill
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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