Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3898 Shipping Ave Miami, FL 33146-1517

    • Manufacturing properties
    • 5,746 SF
    • 1.01 lot acres
    OFF-MARKET
    Last Sale
    Sep 08, 2022
    $13,000,000
    Value Estimations
    $12,455,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2431831
    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

    • Manufacturing properties

    Property Details for 3898 Shipping Ave

    Year built
    1953
    Construction
    CONCRETE
    Lot size
    1.01 lot acres
    Property size
    5,746 SF
    Zone code
    6110:COMM/RES-DESIGN DIST
    Property type
    Manufacturing properties
    APN
    01-4117-003-2490
    APU
    141170032490

    Description

    This exceptional 92,083-square-foot vacant, paved land parcel is ideally situated in Miami's Merrick Park area, offering unparalleled opportunities for various commercial and industrial ventures. The property is available for lease as a single tenancy and presents a unique chance to establish a significant presence in a thriving location. The site is divisible into three separate lots, providing flexibility for different business needs. Lot 1 encompasses 14,595 square feet and is available for $15,000 per month. Lot 2 offers 29,190 square feet at a monthly rate of $25,000. Finally, Lot 3 comprises 48,298 square feet and is priced at $40,000 per month. Potential uses include, but are not limited to, food truck parks, temporary truck parking, and staging areas. The property's convenient location in Miami, Florida (zip code 33146, 3898 Shipping Ave), provides easy access to major transportation routes and a robust consumer base. This is a rare opportunity to secure a substantial land parcel in a high-demand area. Contact us today to explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $13,790,000
      ML approach
      $10,030,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2574
    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
    $252,186
    $12,040,875
    $227,139
    $12,268,014
    -
    $12,040,875
    $227,139
    $12,268,014

    Comparable in this City

    • Value Estimation
      $2,480,000
      8,464 SF

      4101 Ponce De Leon Blvd

      MANUFACTURING (LIGHT) • 8,464 SF
      4101 Ponce De Leon Blvd, Coral Gables, FL 33146-1419
      View Details
    • Value Estimation
      $565,000
      2,130 SF

      109 San Lorenzo Ave

      MANUFACTURING (LIGHT) • 2,130 SF
      109 San Lorenzo Ave, Coral Gables, FL 33146-1513
      View Details
    • Value Estimation
      $815,000
      3,237 SF

      3840 Shipping Ave

      FOOD PROCESSING • 3,237 SF
      3840 Shipping Ave, Miami, FL 33146-1517
      View Details
    • Value Estimation by Request

      Confidential Sunset Dr

      Manufacturing properties
      0 Confidential Sunset Dr, Coral Gables, FL 33146
      View Details
    • Value Estimation by Request
      6,365 SF

      3050 38th Ct

      MANUFACTURING (LIGHT) • 6,365 SF
      3050 38th Ct, Miami, FL 33146-1505
      View Details
    • 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

    Similar Nearby for Sale

    • Contact for pricing

      Merrick Park Showroom/Flex/Warehouse Opportunity

      Showroom/flex/warehouse in Merrick Park Industrial District, near Coral Gables.
      3075 SW 39Th Ave, Miami, FL 33146
      View Details
    • $2,900,000

      Coral Gables Duplex Investment Opportunity

      Duplex near University of Miami, ideal for income or redevelopment.
      4995 Sistina Ave, Coral Gables, FL 33146
      View Details
    • $3,500,000

      Land Near Merrick Park Mall

      Commercial land for sale near Merrick Park and Coconut Grove.
      3771 Bird Rd, Miami, FL 33146
      View Details
    • $660,000

      Coral Gables Office Condo

      Prestigious office condo in the heart of Coral Gables.
      420 S Dixie Hwy, Miami, FL 33146
      View Details
    • Contact for pricing

      Turnkey Salon/Wellness Space, Coral Gables

      1,450 SF turnkey salon/wellness space on South Dixie Highway.
      430 S Dixie Hwy, Miami, FL 33146
      View Details
    • $5,690,000

      Commercial Property on Shipping Avenue

      Commercial property in Miami, Florida, located on Shipping Avenue.
      3838 Shipping Ave, Miami, FL 33146
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      11,134 SF

      Coral Gables Warehouse Space

      Prime Coral Gables warehouse, multiple units available.
      4225 Ponce De Leon Rd, Coral Gables, FL 33146
      View Details
    • $0.01 SF/Yr
      55,000 SF

      Madruga Ave Office Space Available

      Prime Location, Refrigerated Storage, Multiple Suites
      1550 Madruga Ave, Coral Gables, FL 33146
      View Details
    • $32 SF/Yr
      1,702 SF

      Coral Gables Office Space for Lease

      Prime Coral Gables Office, 1702 sq ft
      5915 Ponce De Leon Blvd, Coral Gables, FL 33146
      View Details
    • $70 SF/Yr
      286,906 SF

      Luxury Coral Gables Retail Space

      High-end showroom, prime location, 4,488 SF
      301 Altara Ave, Coral Gables, FL 33146
      View Details
    • $0.50 SF/Yr
      1,200 SF

      Coral Gables Office Suite for Sale/Lease

      Prime Coral Gables office, 1200 sq ft.
      420 Dixie Hwy, Coral Gables, FL 33146
      View Details
    • Contact for pricing

      Prime Medical Office Space in Plaza San Remo

      Class A, 1621 sq ft, Triple Net Lease
      6705 Red Rd, Coral Gables, FL 33146
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3898 Shipping Ave
    Miami, FL 33146-1517
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.