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Property profile & analytics
OFF-MARKET
Estimated value
$8,380,000
Community centers
40 3rd Ave, Miami, FL 33132-2512
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US18-5130871
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1993
Construction
CONCRETE
Total area
27,382 SF
Lot
0.34 ac (15,000 SF)
Zoning code
6401:COMMERCIAL
APN
01-0111-080-1020
UPID
US18-5130871
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.38M
Owner & transaction history
Flagler 251 LLC
Flagler 251 LLC
1 recorded transaction
Zoning & alternative use
6401:COMMERCIAL · Miami, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$12.0M
+54.5%
Warehouse, storage
$8.1M
+4.6%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$7,785,000
Current use
MEDICAL BUILDING
$12,025,000
Change: +55% · Conversion: Difficult
WAREHOUSE, STORAGE
$8,140,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$8.38M
Range $7.54M – $9.22M · ±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
$306 / 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
$146,311
Tax year 2023
Assessed value
$11,262,382
Assessed 2023
Previous assessed
$10,512,382
+7.1% YoY
Effective rate
1.30%
On assessed value
Assessed land
$10,500,000
Assessed improvement
$762,382
Land market value
$10,500,000
Improvement market value
$762,382
Total market value
$11,262,382
Applied tax rate
101.0000
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1993
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
2
Total area
27,382 SF
Lot
0.34 ac (15,000 SF)
Zoning code
6401:COMMERCIAL
APN
01-0111-080-1020
UPID
US18-5130871
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6401:COMMERCIAL · Miami, FL
Zoning 6401:COMMERCIAL · permitted uses
6401:COMMERCIAL · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$7.8M
MEDICAL BUILDING
Est. value
$12.0M
WAREHOUSE, STORAGE
Est. value
$8.1M
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1993
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Lot
0.34 ac
Current owner
From public records · entity-resolved
Flagler 251 LLC
Entity
Mailing address
255 E FLAGLER ST STE, MIAMI, FL 33131-1306
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
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
—
—
Flagler 251 LLC
—
Loan Modification
related
$13,000,000 · Us Century Bk
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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