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Property profile & analytics
OFF-MARKET
Estimated value
$1,695,000
Theaters & concert halls
3455 207th St Aventura, FL 33180-3700
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US19-0498865
Property profile
Verified
Property type
Theaters & concert halls
Use group
ARENA, CONVENTION CENTER
Year built
1988
Construction
CONCRETE
Total area
27,783 SF
Lot
6.31 ac (274,864 SF)
Zoning code
6000:COMMERCIAL,GENERAL
APN
28-1235-027-0010
UPID
US19-0498865
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.70M
Owner & transaction history
Waterways Plaza LLC · 20 yrs held
Waterways Plaza LLC
since 2006
7 recorded transactions
Zoning & alternative use
6000:COMMERCIAL,GENERAL · Aventura, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Aventura submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Aventura 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
ARENA, CONVENTION CENTER
$2,110,000
Current use
WAREHOUSE, STORAGE
$1,890,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$1.70M
Range $1.53M – $1.86M · ±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
$61 / 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
$167,477
Tax year 2023
Assessed value
$10,790,000
Assessed 2023
Previous assessed
$9,600,000
+12.4% YoY
Effective rate
1.55%
On assessed value
Assessed land
$9,620,240
Assessed improvement
$1,169,760
Land market value
$9,620,240
Improvement market value
$1,169,760
Total market value
$10,790,000
Applied tax rate
2,800.0000
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
Theaters & concert halls
Use group
ARENA, CONVENTION CENTER
Status
Off-Market
Year built
1988
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
2
Total area
27,783 SF
Lot
6.31 ac (274,864 SF)
Zoning code
6000:COMMERCIAL,GENERAL
APN
28-1235-027-0010
UPID
US19-0498865
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6000:COMMERCIAL,GENERAL · Aventura, FL
Zoning 6000:COMMERCIAL,GENERAL · permitted uses
6000:COMMERCIAL,GENERAL · Aventura, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Aventura. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
ARENA, CONVENTION CENTER Current
Est. value
$2.1M
WAREHOUSE, STORAGE
Est. value
$1.9M
ARENA, CONVENTION CENTER Current
WAREHOUSE, STORAGE
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
1988
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Lot
6.31 ac
Current owner
From public records · entity-resolved
Waterways Plaza LLC
Entity
Mailing address
500 W CYPRESS RD STE STE STE #350, FORT LAUDERDALE, FL 33309
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 9, 2020
—
Waterways Plaza LLC
—
Deed
related
$12,000,000 · Valley Nat'l Bk
May 8, 2006
$10,000,000
Waterways Plaza LLC
Bond-bally III Delawar Trust
Warranty Deed
$2,506,625 · Prudential Insurance Co
Jul 18, 1997
$3,793,000
Bond Bally III Delaware Trust
Spa Associates LP
Grant Deed
$4,314,170 · Bostonia Lending Group 1 INC
—
—
Bally Total Fitness Of Midwest In
—
Deed Of Trust
related
$100,000 · Bank Of Ny Mellon
—
—
Bally Total Fitness Of Midwest In
—
Deed Of Trust
related
—
—
—
Bally Total Fitness Of Midwest In
—
Deed Of Trust
related
$46,835,078 · Wells Fargo Capital Finance
—
—
Waterways Plaza LLC
—
Loan Modification
related
$12,000,000 · Valley Nat'l Bk
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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