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

    3501 2nd Ave Miami, FL 33127-3117

    • Warehouses
    • 3,950 SF
    • 0.10 lot acres
    OFF-MARKET
    Last Sale
    Apr 25, 2022
    $3,500,000
    Value Estimations
    $3,700,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0339381
    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

    • RIBS2GO / Restaurant
    • City Electric Supply Wynwood / Distribution Service / Electrical Supply Store
    • dbakers Sweet Studio / Bakery

    Property Details for 3501 2nd Ave

    Year built
    1952
    Construction
    CONCRETE
    Lot size
    0.10 lot acres
    Property size
    3,950 SF
    Zone code
    6101
    Property type
    Warehouses
    APN
    01-3125-019-0350
    APU
    131250190350

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,985,000
      ML approach
      $3,935,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,579,000
      Market price range: $1.41M - $8.51M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $4,385,000
      Current use
      RETAIL STORES
      $4,705,000
      Change: +7% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $4,140,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1992
    Latitude
    25.8098
    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
    $22,283
    $675,000
    $409,000
    $1,084,000
    -
    $675,000
    $409,000
    $1,084,000

    Comparable in this City

    • Value Estimation
      $3,965,000
      34,442 SF

      2100 Miami Ct

      WAREHOUSE, STORAGE • 34,442 SF
      2100 Miami Ct, Miami, FL 33127-4922
      View Details
    • Value Estimation
      $990,000
      4,642 SF

      233 36th St

      WAREHOUSE, STORAGE • 4,642 SF
      233 36th St, Miami, FL 33127-3129
      View Details
    • Value Estimation
      $1,490,000
      9,100 SF

      46 36th St

      WAREHOUSE, STORAGE • 9,100 SF
      46 36th St, Miami, FL 33127-3157
      View Details
    • Value Estimation
      $1,100,000
      8,836 SF

      120 54th St

      WAREHOUSE, STORAGE • 8,836 SF
      120 54th St, Miami, FL 33127-1716
      View Details
    • Value Estimation
      $670,000
      3,600 SF

      2222 5th Ave

      WAREHOUSE, STORAGE • 3,600 SF
      2222 5th Ave, Miami, FL 33127-4750
      View Details
    • Value Estimation
      $625,000
      3,283 SF

      167 25th St

      WAREHOUSE, STORAGE • 3,283 SF
      167 25th St, Miami, FL 33127-4417
      View Details

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      Allapattah Corner Warehouse For Sale

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      Miami Warehouse Investment Opportunity

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      Corner Warehouse in Allapattah

      Corner warehouse in Allapattah, great location, available for lease.
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    • $3,000,000
      2,000 SF

      Allapattah Warehouse with Large Yard

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    • $7,000,000
      0.33 Acres

      Prime Miami Commercial Land Assemblage

      Three-parcel assemblage totaling 21,600 SQFT in Miami's D1 zoning district.
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    Similar Nearby for Lease

    • Contact for pricing
      4,903 SF

      Allapattah Warehouse Space Available

      Air-conditioned warehouse space in Allapattah, near Wynwood and Design District.
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    • $35 SF/Yr

      Allapattah Office Warehouse with Yard

      3,400 SF office warehouse with fenced yard in Allapattah.
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    • $34 SF/Yr
      6,550 SF

      Wynwood Warehouse: Prime Miami Location

      6,550 SF Warehouse, Flexible Layout, Wynwood
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      View Details
    • $0.19 SF/Yr
      3,000 SF

      Wynwood Warehouse: Creative Office Space

      Modern Wynwood warehouse; 3,000 sq ft, 4 parking spaces.
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    • $7,500 /Mo

      Wynwood Gallery/Showroom Space Available

      Gallery/showroom with warehouse in vibrant Wynwood neighborhood.
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      View Details
    • Contact for pricing
      32,483 SF

      Allapattah Industrial Warehouse

      Miami warehouse, 32,483 SF, 2.5 acres
      2055 7Th Ave, Miami, FL 33127
      View Details
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    3501 2nd Ave
    Miami, FL 33127-3117
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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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