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

    4424 2nd Ave Miami, FL 33137-3428

    • Commercial land
    • 1,569 SF
    • 0.13 lot acres
    OFF-MARKET
    Last Sale
    Apr 09, 2020
    $340,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0246363
    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

    • Commercial land

    Property Details for 4424 2nd Ave

    Year built
    1945
    Construction
    CONCRETE
    Lot size
    0.13 lot acres
    Property size
    1,569 SF
    Zone code
    3901:KING HTS ORCHARD VI
    Property type
    Commercial land
    APN
    01-3124-024-0240
    APU
    131240240240

    Description

    This exceptional 5,460 square foot commercial and residential development site is located at 4424 NE 2nd Ave in Miami, Florida, 33137. The property boasts 100 feet of frontage on NE 2nd Avenue, a major thoroughfare connecting Buena Vista to Downtown Miami and Brickell. Zoned T4-L, this lot offers a blank canvas for a variety of projects, including office, retail, or multi-family developments. Its prime location offers proximity to the Miami Design District (a 5-7 minute walk depending on the destination within the district), the Upper Buena Vista development, and a major healthcare hub (Douglas Gardens Hospital) just five blocks south. The asking price is $1,700,000, translating to $311 per square foot. This represents a unique opportunity to capitalize on Miami's thriving real estate market and the ongoing development in the Buena Vista neighborhood. The property's convenient location and flexible zoning make it an ideal investment for developers seeking a high-impact project in a rapidly growing area. The lot's APN is 01-3124-024-0240. The site is within 1.2 miles of the Magic City Innovation District mega-project.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1917
    Latitude
    25.8168
    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
    $21,048
    $1,092,000
    $0.00
    $1,092,000
    -
    $1,092,000
    $0.00
    $1,092,000

    Comparable in this City

    • Value Estimation by Request
      0.13 Acres

      78 22nd St

      VACANT COMMERCIAL LAND • 0.13 Acres
      78 22nd St, Miami, FL 33137-4823
      View Details
    • Value Estimation by Request
      0.17 Acres

      114 26th St

      VACANT COMMERCIAL LAND • 0.17 Acres
      114 26th St, Miami, FL 33137-4408
      View Details
    • Value Estimation by Request
      0.10 Acres

      205 26th Ter

      VACANT COMMERCIAL LAND • 0.10 Acres
      205 26th Ter, Miami, FL 33137-4519
      View Details
    • Value Estimation by Request
      0.17 Acres

      74 24th St

      VACANT COMMERCIAL LAND • 0.17 Acres
      74 24th St, Miami, FL 33137
      View Details
    • Value Estimation by Request
      0.16 Acres

      95 21st St

      VACANT COMMERCIAL LAND • 0.16 Acres
      95 21st St, Miami, FL 33137-4819
      View Details
    • Value Estimation by Request
      0.21 Acres

      345 36th St

      VACANT COMMERCIAL LAND • 0.21 Acres
      345 36th St, Miami, FL 33137
      View Details

    Similar Nearby for Sale

    • $5,270,000

      Edgewater Multifamily Redevelopment Opportunity

      Prime Edgewater location with redevelopment potential near Biscayne Bay.
      401 NE 22Nd St, Miami, FL 33137
      View Details
    • $11,600,000

      Edgewater Development Opportunity

      27,202 SF development opportunity in Miami's Edgewater neighborhood.
      2600 NE 2Nd Ave, Miami, FL 33137
      View Details
    • $6,600,000
      10,000 SF

      Prime Edgewater Development Opportunity

      World-class development site in the heart of Edgewater, Miami.
      702-708 NE 26Th St, Miami, FL 33137
      View Details
    • Contact for pricing

      Land in Little Haiti Center

      Land for lease in Little Haiti, versatile commercial opportunities.
      5804 Ne 2Nd Ave, Miami, FL 33137
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Little Haiti Commercial Land Lease

      Prime Miami location, versatile zoning.
      5804 2Nd Ave, Miami, FL 33137
      View Details
    • $55 SF/Yr
      9,419 SF

      Biscayne Blvd Retail Spaces For Lease

      Prime MiMo District Retail Opportunity
      5700 Biscayne Blvd, Miami, FL 33137
      View Details
    • $0.07 SF/Yr
      10,958 SF

      Prime Flex Space, Miami Design District

      10,958 SF Flex Space - Ideal Location
      3621 Miami Ct, Miami, FL 33137
      View Details
    • $55 SF/Yr
      7,500 SF

      Buena Vista Commercial Building

      7,500 SF Freestanding Office/Retail
      4900 2Nd Ave, Miami, FL 33137
      View Details
    • Contact for pricing
      29,407 SF

      Mohawk Wynwood Retail Spaces

      Wynwood retail, 12 suites, prime location.
      56 29Th St, Miami, FL 33137
      View Details
    • $31 SF/Yr
      25,000 SF

      Upscale Miami Flex Warehouse

      Prime Miami flex space, ideal for creative businesses.
      5700 4Th Ave, Miami, FL 33137
      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.
    4424 2nd Ave
    Miami, FL 33137-3428
    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.