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

    3838 Shipping Ave Miami, FL 33146

    • Warehouses
    • 2,328 SF
    • 0.08 lot acres
    For Sale
    View listing
    $5,690,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-7713242
    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

    • German Motorsports Inc / Auto Repair Shop

    Property Details for 3838 Shipping Ave

    Year built
    1983
    Construction
    CONCRETE
    Lot size
    0.08 lot acres
    Property size
    2,328 SF
    Zone code
    6110:COMM/RES-DESIGN DIST
    Property type
    Warehouses
    APN
    01-4117-003-2570
    APU
    141170032570

    Description

    This exceptional mixed-use property, located at 3838 Shipping Ave in Miami, Florida, presents a compelling investment opportunity. Situated in Miami-Dade County, zip code 33146, between the desirable neighborhoods of Coral Gables and Coconut Grove, this single-story building offers significant potential. Constructed in 1983, the property boasts a strategic location, providing easy access to major transportation routes and a vibrant urban environment. The asking price is $6,000,000. The property's mixed-use zoning allows for a variety of commercial and potentially residential applications, making it an ideal asset for investors seeking diverse income streams or redevelopment possibilities. The building's single-story design offers efficient layout and management. Its prime location between Coral Gables and Coconut Grove provides access to a high-density population with strong purchasing power and a thriving local economy. The property's address is easily accessible and highly visible, offering excellent potential for branding and signage. This is a rare opportunity to acquire a well-positioned mixed-use building in one of Miami's most sought-after areas. Further due diligence is recommended to fully assess the property's potential and suitability for your investment strategy. The geographic coordinates are 25.7329231 latitude and -80.2564236 longitude.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $360,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $635,000
      6.5%
      $585,000
      7%
      $545,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $690,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $660,000
      Change: -4% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2564
    Latitude
    25.7329
    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
    $14,698
    $968,000
    $73,176
    $1,041,176
    -
    $968,000
    $73,176
    $1,041,176

    Comparable in this City

    • Value Estimation
      $1,225,000
      5,200 SF

      3865 Shipping Ave

      WAREHOUSE, STORAGE • 5,200 SF
      3865 Shipping Ave, Miami, FL 33146-1516
      View Details
    • Value Estimation
      $3,370,000
      14,588 SF

      4525 Ponce De Leon Blvd

      WAREHOUSE, STORAGE • 14,588 SF
      4525 Ponce De Leon Blvd, Miami, FL 33146
      View Details
    • Value Estimation
      $18,065,000
      85,388 SF

      3095 39th Ave

      WAREHOUSE, STORAGE • 85,388 SF
      3095 39th Ave, Miami, FL 33146-1506
      View Details
    • Value Estimation
      $2,155,000
      9,794 SF

      365 Greco Ave

      WAREHOUSE, STORAGE • 9,794 SF
      365 Greco Ave, Coral Gables, FL 33146
      View Details
    • Value Estimation
      $1,280,000
      5,363 SF

      3080 38th Ct

      WAREHOUSE, STORAGE • 5,363 SF
      3080 38th Ct, Miami, FL 33146-1505
      View Details
    • Value Estimation
      $2,460,000
      10,361 SF

      3846 Shipping Ave

      WAREHOUSE, STORAGE • 10,361 SF
      3846 Shipping Ave, Miami, FL 33146-1517
      View Details

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    Similar Nearby for Lease

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      Coral Gables Warehouse Space

      Prime Coral Gables warehouse, multiple units available.
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      Luxury Coral Gables Retail Space

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    3838 Shipping Ave
    Miami, FL 33146
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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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