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

    3404 Miami Ave Miami, FL 33127-3526

    • Turn key restaurants
    • 4,758 SF
    • 0.07 lot acres
    OFF-MARKET
    Last Sale
    Aug 19, 2022
    $4,533,400
    Value Estimations
    $4,415,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1614956
    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

    • the18thmiami / Night Club
    • Parking Lot / Parking Lot
    • Park Now Miami / Parking Lot
    • Proof Restaurant / Restaurant
    • Upstairs Midtown Miami / Lounge

    Property Details for 3404 Miami Ave

    Year built
    1937
    Construction
    WOOD
    Lot size
    0.07 lot acres
    Property size
    4,758 SF
    Zone code
    6101
    Property type
    Turn key restaurants
    APN
    01-3125-019-1260
    APU
    131250191260

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,375,000
      ML approach
      $4,410,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,548,000
      Market price range: $1.72M - $6.28M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $3,530,000
      Current use
      RETAIL STORES
      $5,665,000
      Change: +61% Conversion: Easy
      WAREHOUSE, STORAGE
      $5,280,000
      Change: +50% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $4,985,000
      Change: +41% Conversion: Easy
      AUTO REPAIR, GARAGE
      $3,850,000
      Change: +9% Conversion: Difficult
      OFFICE BUILDING
      $3,245,000
      Change: -8% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1956
    Latitude
    25.8084
    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
    $78,361
    $693,000
    $3,119,000
    $3,812,000
    -
    $693,000
    $3,119,000
    $3,812,000

    Comparable in this City

    • Value Estimation
      $490,000
      10,540 SF

      2637 Miami Ave

      RESTAURANT • 10,540 SF
      2637 Miami Ave, Miami, FL 33127-4437
      View Details
    • Value Estimation
      $250,000
      2,100 SF

      4490 2nd Ave

      RESTAURANT • 2,100 SF
      4490 2nd Ave, Miami, FL 33127-2608
      View Details
    • Value Estimation
      $525,000
      3,980 SF

      2550 2nd Ave

      RESTAURANT • 3,980 SF
      2550 2nd Ave, Miami, FL 33127-4306
      View Details
    • Value Estimation
      $445,000
      4,350 SF

      415 26th St

      RESTAURANT • 4,350 SF
      415 26th St, Miami, FL 33127-4119
      View Details
    • Value Estimation
      $5,665,000
      4,264 SF

      169 23rd St

      RESTAURANT • 4,264 SF
      169 23rd St, Miami, FL 33127-4490
      View Details
    • Value Estimation by Request
      11,365 SF

      325 24th St

      RESTAURANT • 11,365 SF
      325 24th St, Miami, FL 33127-4325
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Turnkey Restaurant Space in Miami

      Restaurant space with grease trap, hood, and patio.
      3032 NW 7Th Ave, Miami, FL 33127
      View Details
    • $35,000

      Turnkey Restaurant Space in Miami

      Fully built-out restaurant space in a sought-after Miami location.
      2509 N Miami Ave, Miami, FL 33127
      View Details
    • $750,000

      Wynwood Restaurant: Turn-Key Opportunity

      Fully renovated restaurant in Wynwood, ready for immediate operation.
      Miami, FL 33127
      View Details
    • Contact for pricing
      3,111 SF

      Wynwood Restaurant/Bar with Large Yard

      Second-generation bar/restaurant with 5,000 SF yard in Wynwood.
      176 NW 24Th St, Miami, FL 33127
      View Details
    • $110,000

      Established Restaurant in Downtown Miami

      Operating restaurant in prime location near gas station and expressway.
      1 NW 54Th St, Miami, FL 33127
      View Details
    • $3,950,000
      1,560 SF

      Turnkey Commissary Kitchen For Sale

      Freestanding, fully equipped 1,560 SF commissary kitchen on 6,225 SF lot.
      643 NW 20Th St, Miami, FL 33127
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,400 SF

      Turnkey Restaurant Space Available

      Restaurant space for rent in WYND27 urban development.
      143 NW 26Th St, Miami, FL 33127
      View Details
    • Contact for pricing
      6,000 SF

      Wynwood Restaurant Space Available

      Second generation restaurant space in Wynwood's vibrant business district.
      170 NW 24Th St, Miami, FL 33127
      View Details
    • Contact for pricing
      1,500 SF

      Wynwood Retail Space: Prime Location

      Move-in ready retail space in vibrant Wynwood.
      2300 2Nd Ave, Miami, FL 33127
      View Details
    • Contact for pricing
      2,000 SF

      Wynwood Plaza Retail Opportunity

      Unique open-air plaza in Wynwood's creative district.
      2610-2616 NW 5Th Ave, Miami, FL 33127
      View Details
    • Contact for pricing
      9,000 SF

      Prime Miami Retail Space Available

      9,000 SF Retail/Restaurant Space in Miami
      1451 Miami 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
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    3404 Miami Ave
    Miami, FL 33127-3526
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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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