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Property profile & analytics
OFF-MARKET
Retail residential properties
3620 2nd Ave Miami, FL 33137-3616
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US18-9163209
Property summary
AI-generated overview
This exceptional free-standing building, located at 3620 NE 2nd Ave in Miami's Design District (zip code 33137), offers 5,385 square feet of retail space on a 6,195 square foot lot. The two-story structure is currently configured with four retail and creative office spaces, ideal for a flagship operation or mixed-use development. The property boasts a prominent location at the gateway to the Design District, ensuring high visibility and excellent access. Ample parking is available on-site, supplemented by over 100 nearby spaces. Zoned T6-12-O, this allows for significant development potential, including mixed-use projects up to twelve stories high. The building's prime location within Miami's vibrant art, design, and commerce hub presents a unique opportunity to establish a landmark presence. The asking price for this owner-user investment opportunity is $9,800,000. This multi-tenancy property is perfect for a variety of uses, including food and beverage establishments.
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1921
Construction
CONCRETE
Total area
5,385 SF
Lot
0.14 ac (6,195 SF)
Zoning code
6110:COMM/RES-DESIGN DIST
APN
01-3124-022-0030
UPID
US18-9163209
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
-
Ghee Indian Kitchen Restaurant
-
ERBA Grocery & Convenience Store Food Market
-
Old Greg's Pizza Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
3620 Ak LLC · 8 yrs held
3620 Ak LLC
since 2018
Last sale
$8.5M
7 recorded transactions
Zoning & alternative use
6110:COMM/RES-DESIGN DIST · Miami, 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 submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Miami 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$102,511
Tax year 2023
Assessed value
$5,300,000
Assessed 2023
Previous assessed
$5,000,000
+6.0% YoY
Effective rate
1.93%
On assessed value
Assessed land
$2,168,250
Assessed improvement
$3,131,750
Land market value
$2,168,250
Improvement market value
$3,131,750
Total market value
$5,300,000
Applied tax rate
100.0000
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
Retail residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
1921
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
2
Total area
5,385 SF
Lot
0.14 ac (6,195 SF)
Zoning code
6110:COMM/RES-DESIGN DIST
APN
01-3124-022-0030
UPID
US18-9163209
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6110:COMM/RES-DESIGN DIST · Miami, FL
Zoning 6110:COMM/RES-DESIGN DIST · permitted uses
6110:COMM/RES-DESIGN DIST · Miami, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Miami. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1921
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Lot
0.14 ac
Current owner
From public records · entity-resolved
3620 Ak LLC
Entity
Mailing address
5781 BISCAYNE BLVD STE CS2, MIAMI, FL 33137-2643
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 14, 2018
$6,550,000
3620 Ak LLC
36dd LLC
Warranty Deed
$3,600,000 · Banesco USA
May 12, 2017
—
Alexander Karakhanian
36dd LLC
Quit Claim Deed
related
—
May 27, 2015
$5,490,000
36dd LLC
3620 Design District Corp
Grant Deed
$3,000,000 · 3620 Design District Corp
Apr 27, 2012
$1,782,000
3620 Design District Corp
High Street Properties INC
Warranty Deed
$1,336,500 · Jpmorgan Chase Bank NA
Aug 10, 2011
—
High Street Properties INC
—
Trustees Deed
related
$50,000 · Regions Bank
Dec 30, 2005
—
High Street Properties INC
Santamarina,nelia A
Quit Claim Deed
related
$770,000 · Regions Bank
Jul 17, 2003
$710,000
High Street Properties INC
Statz,kay M
Grant Deed
$325,000 · Pacific National Bank
—
—
Nelia A Santamarina
—
Deed Of Trust
related
$80,000 · Boston Investors Group INC Cro
—
—
36dd LLC
—
Deed Of Trust
related
$3,000,000 · Interaudi Bk
—
—
High Street Properties INC
—
Deed Of Trust
related
$770,000 · Regions Bank
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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