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Property profile & analytics
OFF-MARKET
Estimated value
$37,800,000
Hotels
350 Ocean Dr Miami Beach, FL 33139-6905
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-2359775
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1940
Construction
CONCRETE
Total area
28,714 SF
Lot
0.26 ac (11,500 SF)
Zoning code
3003:MULTI-FAMILY
APN
02-4203-003-0450
UPID
US18-2359775
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$36.21M
Blend (final)
Blend
$37.80M
Owner & transaction history
Catalyst Balfour Property LLC · 3 yrs held
Catalyst Balfour Property LLC
since 2022
Last sale
$39.3M
7 recorded transactions
Zoning & alternative use
3003:MULTI-FAMILY · Miami Beach, 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 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
$36,500,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$33,115,000
Current use
Blend value · Realmo final
$37.80M
Range $34.02M – $41.58M · ±10% · vs last sale $39.25M (Sep 22 2022)
Last sale anchor
$39.25M
Sep 22 2022
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
$1,316 / 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
$214,467
Tax year 2023
Assessed value
$11,800,000
Assessed 2023
Previous assessed
$10,700,000
+10.3% YoY
Effective rate
1.82%
On assessed value
Assessed land
$8,050,000
Assessed improvement
$3,750,000
Land market value
$8,050,000
Improvement market value
$3,750,000
Total market value
$11,800,000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1940
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
3
Units
64
Bathrooms
64
Total area
28,714 SF
Lot
0.26 ac (11,500 SF)
Zoning code
3003:MULTI-FAMILY
APN
02-4203-003-0450
UPID
US18-2359775
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
3003:MULTI-FAMILY · Miami Beach, FL
Zoning 3003:MULTI-FAMILY · permitted uses
3003:MULTI-FAMILY · 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
HOTEL/MOTEL Current
Est. value
$33.1M
HOTEL/MOTEL Current
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
1940
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
3
Units
64
Bathrooms
64
Lot
0.26 ac
Current owner
From public records · entity-resolved
Catalyst Balfour Property LLC
Entity
Mailing address
181 BAY ST 4700TH PO TORONTO ON 5TH 2ND CANADA BOX 792ND XX
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 9, 2025
—
Catalyst Balfour Property LLC
—
Deed
related
$18,000,000 · Bi 118 LLC
Sep 22, 2022
$39,250,000
Catalyst Balfour Property LLC
Hna Lh Od LLC
Special Warranty Deed
$18,000,000 · Balfour Hotel Lender 1 LLC
Aug 16, 2019
$34,750,000
Hna Lh Od LLC
Green Comet LLC
Trustees Deed
$23,400,000 · Vmc Lender LLC
Oct 2, 2018
—
Green Comet LLC
—
Loan Modification
related
$648,962,687 · Mercantil Bk NA
Oct 31, 2016
—
Green Comet LLC
—
Deed
related
$2,000,000 · Pcf Balfour LLC
Jun 22, 2016
—
Green Comet LLC
—
Deed
related
$2,000,000 · Sabadell United Bk NA
Jul 11, 2014
—
Green Comet LLC
—
Loan Modification
related
$9,000,000 · Sabadell United Bk NA
—
—
Green Comet LLC
—
Deed Of Trust
related
$5,135,808 · Bank Of Miami NA
—
—
Green Comet LLC
—
Deed Of Trust
related
$800,651 · First United Bank
—
—
Green Comet LLC
—
Loan Modification
related
$2,000,000 · Sabadell United Bk NA
—
—
Green Comet LLC
—
Deed Of Trust
related
$2,000,000 · Pcf Balfour LLC
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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