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Property profile & analytics
OFF-MARKET
Estimated value
$10,010,000
Industrial land
3811 Shipping Ave Miami, FL 33146-1500
Entity Owned
6-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-5108809
Property profile
Verified
Property type
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Year built
1950
Construction
CONCRETE
Total area
9,015 SF
Lot
0.88 ac (38,467 SF)
Zoning code
6110:COMM/RES-DESIGN DIST
APN
01-4117-003-2090
UPID
US18-5108809
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
-
Avalon Merrick Park Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.01M
Owner & transaction history
Avalon Merrick Park LLC · 6 yrs held
Avalon Merrick Park LLC
since 2020
Last sale
$12.9M
3 recorded transactions
Zoning & alternative use
6110:COMM/RES-DESIGN DIST · Miami, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.7M
+176.8%
Commercial (general)
$6.7M
+175.9%
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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$6,685,000
Change: +177% · Conversion: Difficult
COMMERCIAL (GENERAL)
$6,665,000
Change: +176% · Conversion: Difficult
Blend value · Realmo final
$10.01M
Range $9.01M – $11.01M · ±10% · vs last sale $12.90M (Apr 1 2020)
Last sale anchor
$12.90M
Apr 1 2020
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
$1,110 / 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
$178,043
Tax year 2023
Assessed value
$10,584,540
Assessed 2023
Previous assessed
$10,584,540
+0.0% YoY
Effective rate
1.68%
On assessed value
Assessed land
$10,578,425
Assessed improvement
$6,115
Land market value
$10,578,425
Improvement market value
$6,115
Total market value
$10,584,540
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
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Status
Off-Market
Year built
1950
Construction
CONCRETE
Heating
NONE
Cooling
REFRIGERATOR
Stories
2
Total area
9,015 SF
Lot
0.88 ac (38,467 SF)
Zoning code
6110:COMM/RES-DESIGN DIST
APN
01-4117-003-2090
UPID
US18-5108809
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.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$6.7M
COMMERCIAL (GENERAL)
Est. value
$6.7M
RESTAURANT
COMMERCIAL (GENERAL)
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
1950
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Lot
0.88 ac
Current owner
From public records · entity-resolved
Avalon Merrick Park LLC
Entity
Free & Clear · 6 yrs held
Mailing address
4040 WILSON BLVD STE #1000, ARLINGTON, VA 22203-4439
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 1, 2020
$12,900,000
Avalon Merrick Park LLC
M-3811 Shipping Owner LLC
Grant Deed
—
May 30, 2017
$10,900,000
M 3811 Shipping Owner LLC
Bellsouth Telecommunications LLC
Special Warranty Deed
$5,450,000 · Goldman Sachs Bank USA
—
—
M-3811 Shipping Owner LLC
—
Loan Modification
related
$5,450,000 · Goldman Sachs Bk USA
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.
Try Rey
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