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

    3901 2nd Ave Miami, FL 33127-2921

    • Office buildings
    • 5,890 SF
    • 0.34 lot acres
    OFF-MARKET
    Last Sale
    Jun 05, 2024
    $3,500,000
    Value Estimations
    $3,500,000
    Show details
    Cap Rate Potential
    5.1%
    Office buildings
    Location Intelligence
    Property ID
    US18-1941773
    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

    • Cassina Store Miami / Furniture & Home Goods / Home Decor Store
    • Full Gospel Assembly / Church / Mosque
    • Green Miner Mining Services / Industrial Park / Production Facility

    Property Details for 3901 2nd Ave

    Year built
    1948
    Construction
    CONCRETE
    Lot size
    0.34 lot acres
    Property size
    5,890 SF
    Zone code
    4801:RESID-LIMITED RETAIL
    Property type
    Office buildings
    APN
    01-3124-021-0690
    APU
    131240210690

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,500,000
      ML approach
      $3,500,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,005,000
      6.5%
      $2,775,000
      7%
      $2,575,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,722,000
      Market price range: $1.95M - $7.77M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,020,000
      Current use
      AUTO REPAIR, GARAGE
      $4,765,000
      Change: +19% Conversion: Difficult
      RESTAURANT
      $4,370,000
      Change: +9% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $3,325,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1992
    Latitude
    25.8127
    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
    $45,731
    $2,025,000
    $199,658
    $2,224,658
    -
    $2,025,000
    $199,658
    $2,224,658

    Comparable in this City

    • Value Estimation by Request
      762 SF

      3401 Miami Ave Ste, Unit 231

      OFFICE BUILDING (MULTI-STORY) • 762 SF
      3401 Miami Ave Ste, Miami, FL 33127-3546
      View Details
    • Value Estimation
      $1,965,000
      4,422 SF

      425 26th St

      OFFICE BUILDING • 4,422 SF
      425 26th St, Miami, FL 33127-4119
      View Details
    • Value Estimation
      $4,050,000
      14,281 SF

      1000 54th St

      OFFICE BUILDING (MULTI-STORY) • 14,281 SF
      1000 54th St, Miami, FL 33127-1820
      View Details
    • Value Estimation
      $3,905,000
      14,863 SF

      194 30th St

      OFFICE BUILDING (MULTI-STORY) • 14,863 SF
      194 30th St, Miami, FL 33127-3708
      View Details
    • Value Estimation by Request
      762 SF

      3401 Miami Ave Ste, Unit 218

      OFFICE BUILDING (MULTI-STORY) • 762 SF
      3401 Miami Ave Ste, Miami, FL 33127-3545
      View Details
    • Value Estimation by Request
      762 SF

      3401 Miami Ave Ste, Unit 224

      OFFICE BUILDING (MULTI-STORY) • 762 SF
      3401 Miami Ave Ste, Miami, FL 33127-3545
      View Details

    Similar Nearby for Sale

    • $31,000,000
      32,150 SF

      Wynwood Development Opportunity For Sale

      Prime Wynwood location with significant development potential.
      2200-2230 NW 2Nd Ave, Miami, FL 33127
      View Details
    • $25,800,000
      38,418 SF

      Wynwood Income Investment Opportunity

      Prime Wynwood location with rent growth potential.
      2085 Nw 2Nd Ave, Miami, FL 33127
      View Details
    • $7,000,000
      0.33 Acres

      Prime Miami Commercial Land Assemblage

      Three-parcel assemblage totaling 21,600 SQFT in Miami's D1 zoning district.
      683 NW 30Th St, Miami, FL 33127
      View Details
    • Contact for pricing

      Modern Industrial Live-Work Loft

      Modern industrial loft in Miami's Creative District.
      250 NW 23 405, Miami, FL 33127
      View Details
    • $2,500,000
      0.33 Acres

      Miami Commercial Land Opportunity

      Two adjacent lots ideal for development in a high-demand area.
      679 NW 30Th St, Miami, FL 33127
      View Details
    • Contact for pricing

      Adaptable Retail/Office/Showroom Space Available

      Versatile 3,764 SF space in a gentrifying neighborhood.
      5900 NW 2Nd Ave, Miami, FL 33127
      View Details

    Similar Nearby for Lease

    • $0.19 SF/Yr
      3,000 SF

      Wynwood Warehouse: Creative Office Space

      Modern Wynwood warehouse; 3,000 sq ft, 4 parking spaces.
      123 23Rd St, Miami, FL 33127
      View Details
    • Contact for pricing
      330 SF

      Miami Office Space For Rent

      Office space for rent including utilities and common area amenities.
      804 NW 21St St, Miami, FL 33127
      View Details
    • $45 SF/Yr
      5,856 SF

      Office Space in Miami, FL

      5,856 SF office space available for lease.
      4201 NW 2Nd Ave, Miami, FL 33127
      View Details
    • $1.65 SF/Yr
      40,000 SF

      Wynwood Loft Office Space For Lease

      40,000 SF Industrial Loft Office
      250 23Rd St, Miami, FL 33127
      View Details
    • $35 SF/Yr
      10,300 SF

      Wynwood Creative Flex Space

      Miami Flex Space: 1,100 - 10,300 SF
      2887 5Th Ave, Miami, FL 33127
      View Details
    • $24 SF/Yr
      11,193 SF

      Allapattah Retail Center Investment

      High-traffic retail space, Miami, FL
      900 36Th St, Miami, FL 33127
      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.
    3901 2nd Ave
    Miami, FL 33127-2921
    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.