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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    511 34Th St Miami, FL 33127

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1561493
    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 real estate

    Property Details for 511 34Th St

    Property type
    Commercial real estate

    Description

    This exceptional 3,240 square foot lot, located at 511 NW 34th Street in Miami, Florida, presents a compelling development opportunity in the vibrant Wynwood Norte neighborhood. Zoned T5-L, this property allows for the construction of a building up to five stories high, with the potential for studio units, depending on the desired square footage per unit. The site benefits from its proximity to both the Design District and the Shops at Midtown, ensuring high visibility and convenient access to thriving retail and cultural destinations. Furthermore, the property is situated within a City of Miami-approved Neighborhood Revitalization District (NRD-2), offering potential advantages and streamlined processes for development. This designation allows for flexibility in building design, permitting a mix of multifamily residential units and commercial space on the ground floor, catering to a diverse range of uses and maximizing investment potential. The asking price for this exceptional development opportunity is $999,000. This property is ideal for developers seeking a prime location in a rapidly growing area with significant upside potential. The 33127 zip code offers easy access to major transportation arteries and a wealth of amenities. Don't miss this chance to acquire a highly desirable development site in one of Miami's most sought-after neighborhoods.

    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
    -80.203882781057
    Latitude
    25.808326412586

    Comparable in this City

    • $1,395,000

      Income-Producing Duplexes Development Opportunity

      13,500 sq ft corner lot with income-producing duplexes.
      2900 NW 10Th Ave, Miami, FL 33127
      View Details
    • $1,550,000
      0.17 Acres

      Miami Development Site For Sale

      Income-producing development site near Design District, Wynwood, Midtown, Downtown, Brickell.
      3421 NW 5Th Ave, Miami, FL 33127
      View Details
    • $1,550,000
      0.17 Acres

      Miami Development Site For Sale

      Income-producing development site near Design District, Wynwood, Midtown, Downtown, Brickell.
      3421 NW 5Th Ave, Miami, FL 33127
      View Details
    • $1,200,000
      2,307 SF

      Buena Vista Development Gem

      Miami 2-unit, 7,200 sq ft lot
      81 41St St, Miami, FL 33127
      View Details
    • $1,800,000

      Wynwood Norte Development Land

      Prime Miami lot, 24-unit potential.
      287 31St St, Miami, FL 33127
      View Details
    • $3,100,000
      0.33 Acres

      Miami Development Site For Sale

      Development site with income-producing units and potential for various uses.
      2410 NW 7Th Ct, Miami, FL 33127
      View Details

    Similar Nearby for Sale

    • $1,200,000
      2,307 SF

      Buena Vista Development Gem

      Miami 2-unit, 7,200 sq ft lot
      81 41St St, Miami, FL 33127
      View Details
    • $1,800,000

      Wynwood Norte Development Land

      Prime Miami lot, 24-unit potential.
      287 31St St, Miami, FL 33127
      View Details
    • $1,395,000

      Income-Producing Duplexes Development Opportunity

      13,500 sq ft corner lot with income-producing duplexes.
      2900 NW 10Th Ave, Miami, FL 33127
      View Details
    • $1,550,000
      0.17 Acres

      Miami Development Site For Sale

      Income-producing development site near Design District, Wynwood, Midtown, Downtown, Brickell.
      3421 NW 5Th Ave, Miami, FL 33127
      View Details
    • $1,550,000
      0.17 Acres

      Miami Development Site For Sale

      Income-producing development site near Design District, Wynwood, Midtown, Downtown, Brickell.
      3421 NW 5Th Ave, Miami, FL 33127
      View Details
    • $3,100,000
      0.33 Acres

      Miami Development Site For Sale

      Development site with income-producing units and potential for various uses.
      2410 NW 7Th Ct, Miami, FL 33127
      View Details

    Similar Nearby for Lease

    • $1,600 /Mo

      Remodeled Apartment Near Wynwood

      Recently renovated 1 bed, 1 bath apartment in Miami.
      5801 NW 1St Ave, Miami, FL 33127
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    • $3,100 /Mo

      Miami Duplex Near Wynwood

      Spacious 3 bedroom duplex in the heart of Miami.
      280 NW 39Th St, Miami, FL 33127
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    • $2,000 /Mo

      Wynwood Norte Apartment For Rent

      Cozy 2-bedroom apartment in Wynwood Norte, modern kitchen.
      227 NW 34Th St, Miami, FL 33127
      View Details
    • $4,000 /Mo

      Furnished Miami House with Lounge

      Cozy, furnished 4-bedroom house near Wynwood and Miami Beach.
      5504 NW 3Rd Ave, Miami, FL 33127
      View Details
    • $1,600 /Mo

      Renovated Apartment Near I-95

      One-bedroom, one-bath renovated apartment near 7th Ave and I-95.
      5600 NW 7Th Ct, Miami, FL 33127
      View Details
    • $2,450 /Mo

      New Miami Duplex Unit Rental

      Spacious, renovated 2/1 unit near Miami hotspots.
      1191 NW 40Th St, Miami, FL 33127
      View Details
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    511 34Th St
    Miami, FL 33127
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    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
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