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

    3605 115th Ave Doral, FL 33178-1856

    • Warehouses
    • 45,790 SF
    • 2.11 lot acres
    OFF-MARKET
    Last Sale
    Feb 21, 2024
    $14,500,000
    Value Estimations
    $14,545,000
    Show details
    Cap Rate Potential
    5.2%
    Warehouses
    Location Intelligence
    Property ID
    US18-4653602
    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

    • Wrk Lab / Office Furniture Store

    Property Details for 3605 115th Ave

    Year built
    1998
    Construction
    CONCRETE
    Lot size
    2.11 lot acres
    Property size
    45,790 SF
    Zone code
    7700:INDUSTRIAL,RESTRICT
    Property type
    Warehouses
    APN
    35-3030-030-0070
    APU
    3530300300070

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $14,500,000
      ML approach
      $14,500,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $12,640,000
      6.5%
      $11,665,000
      7%
      $10,830,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $17,700,000
      Market price range: $12.0M - $33.1M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $17,995,000
      Current use
      MEDICAL BUILDING
      $20,110,000
      Change: +12% Conversion: Difficult
      RETAIL STORES
      $18,740,000
      Change: +4% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Doral
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.3832
    Latitude
    25.807
    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
    $121,451
    $3,484,410
    $5,044,590
    $8,529,000
    -
    $3,484,410
    $5,044,590
    $8,529,000

    Comparable in this City

    • Value Estimation by Request
      10,443 SF

      10471 36th St, Unit 2

      WAREHOUSE, STORAGE • 10,443 SF
      10471 36th St, Doral, FL 33178-4367
      View Details
    • Value Estimation
      $610,000
      14,817 SF

      11355 34th St

      WAREHOUSE, STORAGE • 14,817 SF
      11355 34th St, Doral, FL 33178-1829
      View Details
    • Value Estimation
      $1,020,000
      50,463 SF

      9300 58th St

      WAREHOUSE, STORAGE • 50,463 SF
      9300 58th St, Doral, FL 33178-1631
      View Details
    • Value Estimation
      $965,000
      134,110 SF

      9001 87th Ave, Unit 100

      WAREHOUSE, STORAGE • 134,110 SF
      9001 87th Ave, Medley, FL 33178-4992
      View Details
    • Value Estimation
      $925,000
      13,768 SF

      10002 89th Ave

      WAREHOUSE, STORAGE • 13,768 SF
      10002 89th Ave, Medley, FL 33178-1409
      View Details
    • Value Estimation
      $750,000
      7,434 SF

      9651 89th Ave

      WAREHOUSE, STORAGE • 7,434 SF
      9651 89th Ave, Medley, FL 33178-1433
      View Details

    Similar Nearby for Sale

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      Doral Warehouse with Office Space

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      1.00 Acre

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      Doral Office-Warehouse Double Unit

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      Doral Office-Warehouse Unit For Sale

      2,651 sq. ft. Doral office-warehouse near major highways.
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    • $749,000

      Doral Light Industrial Warehouse

      Versatile commercial property in Doral's thriving business district.
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      Doral Office-Warehouse Space For Sale

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    Similar Nearby for Lease

    • $22 SF/Yr
      13,317 SF

      Medley Warehouse with Office Space

      Class A warehouse with office space for sublease in Medley.
      10801-11199 NW 122Nd Way, Medley, FL 33178
      View Details
    • $5,000 /Mo

      Doral Industrial Flex Space

      2,166 SF industrial flex space in Doral's warehouse district.
      6135 NW 102Nd Ave, Miami, FL 33178
      View Details
    • $18 SF/Yr
      7,100 SF

      Warehouse Space in Beacon Station

      87,040 SF warehouse with 36 dock doors for lease.
      10050 NW 116Th Way, Medley, FL 33178
      View Details
    • $16 SF/Yr
      15,000 SF

      Medley Industrial Space Available

      Industrial space with warehouse and office, convenient location.
      9304-9384 NW 102Nd Rd, Medley, FL 33178
      View Details
    • $21,700

      Air Conditioned Warehouse Space Available

      100% air-conditioned warehouse in Doral West, great location!
      3450 NW 115Th Ave, Miami, FL 33178
      View Details
    • $19 SF/Yr
      6,375 SF

      NW 115th Ave Warehouse For Lease

      6,375 SF Warehouse, Office Space Available
      3510 115 Ave, Doral, FL 33178
      View Details
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    Doral, FL 33178-1856
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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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