Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    350 NW 79Th St Miami, FL 33138

    • Outlet malls
    • 2,192 SF
    • 0.30 lot acres
    For Sale
    View listing
    $1,550,000
    Last Sale
    Apr 26, 2024
    $1,400,000
    Value Estimations
    Cap Rate Potential
    5.1%
    Outlet malls
    Location Intelligence
    Property ID
    US19-0555869
    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

    • MG Luxury car wash / Car Wash
    • ATM / Atm
    • Quick Stop / Convenience Store

    Property Details for 350 NW 79Th St

    Year built
    1949
    Construction
    CONCRETE
    Lot size
    0.30 lot acres
    Property size
    2,192 SF
    Zone code
    6100:COMMERCIAL,NEIGHBRHD
    Property type
    Outlet malls
    APN
    01-3112-015-0020
    APU
    131120150020

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,400,000
      ML approach
      $1,400,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,190,000
      6.5%
      $1,100,000
      7%
      $1,020,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,255,000
      Current use
      OFFICE BUILDING
      $1,495,000
      Change: +19% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,455,000
      Change: +16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2033
    Latitude
    25.8469
    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
    $19,580
    $1,300,000
    $128,637
    $1,428,637
    -
    $1,300,000
    $128,637
    $1,428,637

    Comparable in this City

    • Value Estimation
      $7,025,000
      16,809 SF

      730 95th St

      WHOLESALE OUTLET, DISCOUNT STORE • 16,809 SF
      730 95th St, Miami, FL 33150
      View Details
    • Value Estimation
      $1,500,000
      4,949 SF

      1108 62nd St

      WHOLESALE OUTLET, DISCOUNT STORE • 4,949 SF
      1108 62nd St, Miami, FL 33150-4219
      View Details
    • Value Estimation
      $2,565,000
      9,056 SF

      777 79th St

      WHOLESALE OUTLET, DISCOUNT STORE • 9,056 SF
      777 79th St, Miami, FL 33150-3135
      View Details
    • Value Estimation
      $2,840,000
      8,775 SF

      6301 7th Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 8,775 SF
      6301 7th Ave, Miami, FL 33150-4391
      View Details
    • Value Estimation
      $3,200,000
      6,825 SF

      9575 7th Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 6,825 SF
      9575 7th Ave, Miami, FL 33150-1803
      View Details
    • Value Estimation
      $1,450,000
      2,850 SF

      230 71st St

      WHOLESALE OUTLET, DISCOUNT STORE • 2,850 SF
      230 71st St, Miami, FL 33150-3739
      View Details

    Similar Nearby for Sale

    • $8,900,000

      Miami Mixed-Use Redevelopment Opportunity

      Prime location with redevelopment potential in booming Miami corridor.
      728 NW 79Th St, Miami, FL 33150
      View Details
    • Contact for pricing

      Creative Space in Little River

      Creative space ideal for office, retail, gallery, and dry goods.
      7000 NW 2Nd Ave, Miami, FL 33150
      View Details
    • Contact for pricing

      Retail Space on High-Traffic Corner

      Retail space with high visibility and strong transportation access.
      6211 NW 7Th Ave, Miami, FL 33150
      View Details
    • Contact for pricing

      Little River Bodyshop For Sale

      Bodyshop in Little River industrial corridor with 3-phase power.
      572 NW 72Nd St, Miami, FL 33150
      View Details
    • $2,600,000

      Little River Development Site

      Miami Retail Development Land
      540 79Th St, Miami, FL 33150
      View Details
    • $995,000
      0.11 Acres

      Miami Commercial Building For Sale

      3120 sq ft building in trending area with upside.
      6815 NW 7Th Ave, Miami, FL 33150
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      15,485 SF

      7750 NW 7th Ave Retail Space

      Miami Retail & Office Opportunity
      7750 7Th Ave, Miami, FL 33150
      View Details
    • $24 SF/Yr
      5,000 SF

      Retail Space in Miami

      5,000 square feet retail space available for lease.
      80 NW 72Nd St, Miami, FL 33150
      View Details
    • New
      $17 SF/Yr

      North Miami Healthcare/Retail/Office/Flex Building

      Stand-alone building suitable for healthcare, retail, office, or flex use.
      10190 NW 7Th Ave, Miami, FL 33150
      View Details
    • Contact for pricing
      10,000 SF

      Retail Space Available For Rent

      Retail space available for rent in Miami, FL.
      551 NE 81St St, Miami, FL 33150
      View Details
    • Contact for pricing
      1,333 SF

      Retail Space Available for Rent

      Retail space available for rent in Miami, Florida.
      553-561 NE 79Th St, Miami, FL 33150
      View Details
    • $1,850 /Mo
      750 SF

      Retail Space Near I-95

      Retail space available now, conveniently located near I-95.
      8423-8429 NW 7Th Ave, Miami, FL 33150
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    350 NW 79Th St
    Miami, FL 33138
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.