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Property profile & analytics
OFF-MARKET
Estimated value
$4,520,000
Turn key restaurants
404 1st Ave Florida City, FL 33034-5010
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US18-0381510
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2015
Construction
CONCRETE
Total area
3,866 SF
Lot
0.48 ac (20,953 SF)
Zoning code
7000:INDUSTRIAL,GENERAL
APN
16-7930-001-0292
UPID
US18-0381510
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
$2.98M
Blend (final)
Blend
$4.52M
Owner & transaction history
Iler Investments LLC · 5 yrs held
Iler Investments LLC
since 2020
Last sale
$4.6M
7 recorded transactions
Zoning & alternative use
7000:INDUSTRIAL,GENERAL · Florida City, 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 Florida City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Florida City 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
RESTAURANT
$2,885,000
Current use
Blend value · Realmo final
$4.52M
Range $4.07M – $4.97M · ±10% · vs last sale $4.60M (Sep 30 2020)
Last sale anchor
$4.60M
Sep 30 2020
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
$1,169 / 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
$21,220
Tax year 2023
Assessed value
$1,407,000
Assessed 2023
Previous assessed
$1,270,000
+10.8% YoY
Effective rate
1.51%
On assessed value
Assessed land
$377,154
Assessed improvement
$1,029,846
Land market value
$377,154
Improvement market value
$1,029,846
Total market value
$1,407,000
Applied tax rate
1,600.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
2015
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Bathrooms
2
Total area
3,866 SF
Lot
0.48 ac (20,953 SF)
Zoning code
7000:INDUSTRIAL,GENERAL
APN
16-7930-001-0292
UPID
US18-0381510
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
7000:INDUSTRIAL,GENERAL · Florida City, FL
Zoning 7000:INDUSTRIAL,GENERAL · permitted uses
7000:INDUSTRIAL,GENERAL · Florida City, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Florida City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$2.9M
RESTAURANT Current
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
2015
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Bathrooms
2
Lot
0.48 ac
Current owner
From public records · entity-resolved
Iler Investments LLC
Entity
Mailing address
8370 SW 2ND ST, MIAMI, FL 33144-2004
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 18, 2024
—
Iler Investments LLC
—
Deed
related
$6,000,000 · United Community Bank
Apr 25, 2023
—
Petrogas Florida INC
—
Deed
related
$700,000 · Ocean Bank
Sep 30, 2020
$4,597,500
Iler Investments LLC
Pollo Operations INC
Grant Deed
$2,300,000 · Seaside Bk&tr
Jul 10, 2015
$1,235,000
Pollo Operations INC
Capaud Investments LLC
Grant Deed
—
Aug 4, 2005
$700,000
Capaud Investments LLC
R & R Strano Family Ltd
Warranty Deed
$700,000 · Eagle National Bank Of Miami NA
Aug 4, 2005
—
Capaud Investments LLC
Strano,vito & Rosario
Quit Claim Deed
related
—
Apr 10, 2003
—
Strano,rosario
Strano Brothers Partnership
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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