Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,415,000
Outlet malls
428 41st St Miami Beach, FL 33140-3504
Entity Owned
12-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-2918545
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1937
Construction
CONCRETE
Total area
5,084 SF
Lot
0.36 ac (15,790 SF)
Zoning code
6600:COMMERCIAL,LIBERAL
APN
02-3227-017-1180
UPID
US18-2918545
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
Current use
Occupant on record · Public records
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.55M
Comparable Approach
Comparable
$2.60M
Blend (final)
Blend
$2.42M
Owner & transaction history
432 W 41 St LLC · 12 yrs held
432 W 41 St LLC
since 2014
2 recorded transactions
Zoning & alternative use
6600:COMMERCIAL,LIBERAL · Miami Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.8M
+87.0%
Commercial (general)
$3.8M
+86.4%
Office building
$3.5M
+72.0%
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 Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Miami Beach 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%
$2,765,000
6.5%
$2,550,000
7%
$2,370,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,015,000
Current use
RESTAURANT
$3,770,000
Change: +87% · Conversion: Easy
COMMERCIAL (GENERAL)
$3,760,000
Change: +86% · Conversion: Easy
OFFICE BUILDING
$3,470,000
Change: +72% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,325,000
Change: +65% · Conversion: Difficult
MEDICAL BUILDING
$2,235,000
Change: +11% · Conversion: Difficult
Blend value · Realmo final
$2.42M
Range $2.17M – $2.66M · ±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
$475 / 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
$105,949
Tax year 2023
Assessed value
$6,721,847
Assessed 2023
Previous assessed
$6,721,847
+0.0% YoY
Effective rate
1.58%
On assessed value
Assessed land
$6,710,750
Assessed improvement
$11,097
Land market value
$6,710,750
Improvement market value
$11,097
Total market value
$6,721,847
Applied tax rate
200.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1937
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Buildings
3
Stories
1
Total area
5,084 SF
Lot
0.36 ac (15,790 SF)
Zoning code
6600:COMMERCIAL,LIBERAL
APN
02-3227-017-1180
UPID
US18-2918545
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6600:COMMERCIAL,LIBERAL · Miami Beach, FL
Zoning 6600:COMMERCIAL,LIBERAL · permitted uses
6600:COMMERCIAL,LIBERAL · Miami Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Miami Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.0M
RESTAURANT
Est. value
$3.8M
COMMERCIAL (GENERAL)
Est. value
$3.8M
OFFICE BUILDING
Est. value
$3.5M
AUTO REPAIR, GARAGE
Est. value
$3.3M
MEDICAL BUILDING
Est. value
$2.2M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1937
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Buildings
3
Lot
0.36 ac
Current owner
From public records · entity-resolved
432 W 41 St LLC
Entity
Free & Clear · 12 yrs held
Mailing address
6301 N OCEAN BLVD, OCEAN RIDGE, FL 33435-5213
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 3, 2017
—
432 W 41 St LLC
—
Grant Deed
related
$9,000,000 · Marquis Bk
Mar 20, 2014
—
432 W 41 St LLC
Alvin I Malnik
Correction 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 428 41st St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
