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Property profile & analytics
OFF-MARKET
Estimated value
$815,000
Manufacturing properties
3840 Shipping Ave Miami, FL 33146-1517
Entity Owned
26-yr Hold
Free & Clear
Property ID
US18-9089759
Property summary
AI-generated overview
This exceptional opportunity presents a thriving, second-generation French wholesale bakery in Miami, Florida. Located at 3840 Shipping Ave, Miami, FL 33146, this turnkey operation boasts over 30 years of success and includes all equipment, two delivery vans (inventory list available), and an established client base. The seller will provide training and support during a transition period, ensuring a smooth handover. The asking price is $575,000, encompassing both the established business and the underlying real estate. The 1948-built building sits on prime real estate, presenting significant potential for redevelopment. Its location in Miami-Dade County offers developers a unique chance to construct a substantial new building. This is a rare chance to acquire a profitable, long-standing business with significant upside potential, either continuing the existing operation or capitalizing on the land's redevelopment potential. Serious offers for the business and/or the land and building will be considered. Don't miss this exceptional investment opportunity.
Property profile
Verified
Property type
Manufacturing properties
Use group
FOOD PROCESSING
Year built
1968
Construction
CONCRETE
Total area
3,237 SF
Lot
0.12 ac (5,278 SF)
Zoning code
6110:COMM/RES-DESIGN DIST
APN
01-4117-003-2580
UPID
US18-9089759
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
-
Raphax Inc- Le Bon Pain French Bakery Bakery Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$670k
Comparable Approach
Comparable
$944k
Blend (final)
Blend
$815k
Owner & transaction history
Le Bon Pain INC · 26 yrs held
Le Bon Pain INC
since 1999
1 recorded transaction
Zoning & alternative use
6110:COMM/RES-DESIGN DIST · Miami, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$960,000
+11.0%
Neighborhood: shopping center
$920,000
+6.1%
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%
$725,000
6.5%
$670,000
7%
$620,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$865,000
Current use
WAREHOUSE, STORAGE
$960,000
Change: +11% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$920,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$815k
Range $734k – $897k · ±10%
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
$252 / 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
$23,706
Tax year 2023
Assessed value
$1,565,586
Assessed 2023
Previous assessed
$1,302,371
+20.2% YoY
Effective rate
1.51%
On assessed value
Assessed land
$1,451,450
Assessed improvement
$114,136
Land market value
$1,451,450
Improvement market value
$114,136
Total market value
$1,565,586
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
Manufacturing properties
Use group
FOOD PROCESSING
Status
Off-Market
Year built
1968
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
3,237 SF
Lot
0.12 ac (5,278 SF)
Zoning code
6110:COMM/RES-DESIGN DIST
APN
01-4117-003-2580
UPID
US18-9089759
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
INDUSTRIAL (GENERAL) Current
Est. value
$865,000
WAREHOUSE, STORAGE
Est. value
$960,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$920,000
INDUSTRIAL (GENERAL) Current
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1968
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
Le Bon Pain INC
Entity
Free & Clear · 26 yrs held
Mailing address
3840 SHIPPING AVE, MIAMI, FL 33146-1517
Ownership since
1999
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 1999
$300,000
Le Bon Pain INC
26 Unlimited Corp
Quit Claim Deed
related
—
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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