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Property profile & analytics
OFF-MARKET
Estimated value
$12,455,000
Manufacturing properties
3898 Shipping Ave Miami, FL 33146-1517
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-2431831
Property summary
AI-generated overview
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.
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1953
Construction
CONCRETE
Total area
5,746 SF
Lot
1.01 ac (43,785 SF)
Zoning code
6110:COMM/RES-DESIGN DIST
APN
01-4117-003-2490
UPID
US18-2431831
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.03M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$12.46M
Owner & transaction history
Merrick Parc LLC · 3 yrs held
Merrick Parc LLC
since 2022
Last sale
$13.0M
3 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
Method
Estimation
Statistic approach
$13,790,000
ML approach
$10,030,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$12.46M
Range $11.21M – $13.70M · ±10% · vs last sale $13.00M (Sep 8 2022)
Last sale anchor
$13.00M
Sep 8 2022
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
$2,168 / 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
$252,186
Tax year 2023
Assessed value
$12,268,014
Assessed 2023
Previous assessed
$10,079,497
+21.7% YoY
Effective rate
2.06%
On assessed value
Assessed land
$12,040,875
Assessed improvement
$227,139
Land market value
$12,040,875
Improvement market value
$227,139
Total market value
$12,268,014
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
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1953
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Buildings
4
Stories
1
Total area
5,746 SF
Lot
1.01 ac (43,785 SF)
Zoning code
6110:COMM/RES-DESIGN DIST
APN
01-4117-003-2490
UPID
US18-2431831
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
1953
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Buildings
4
Lot
1.01 ac
Current owner
From public records · entity-resolved
Merrick Parc LLC
Entity
Free & Clear · 3 yrs held
Mailing address
301 ALMERIA AVE STE #330, CORAL GABLES, FL 33134-5822
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Sep 8, 2022
—
Merrick Parc LLC
Amr Investment Corp
Quit Claim Deed
related
—
Mar 13, 2019
$13,000,000
3898 Shipping Ave LLC
Matheson,finlay B & Joan W
Grant Deed
—
Mar 13, 2019
$100
3898 Shipping Ave LLC
Matheson,finlay B & Joan W
Quit Claim Deed
related
$9,000,000 · Finlay Brooks Matheson Tr (ct)
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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