Entity Owned 
For Sale
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531 Michigan Ave, Miami Beach, FL 33139
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Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1940
Construction
CONCRETE
Total area
8,858 SF
Lot
0.16 ac (7,000 SF)
Zoning code
6503:COMMERCIAL
APN
02-4203-009-6250
UPID
US19-0476082
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Grocery & Convenience Store Food Market
-
Atm
-
Barber Shop
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.43M
CAP Approach
CAP
$3.22M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.35M
Owner & transaction history
since 2022
Last sale
$2.5M
4 recorded transactions
Zoning & alternative use
6503:COMMERCIAL · Miami Beach, FL
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$2.35M
Value range
$2.11M – $2.58M
±10% around blend
Estimated value / SF
$265 / SF
Confidence
Property data
100
Market benchmarks
100
Comparable evidence
60
$2.11M
blend $2.35M
$2.58M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
8,858 SF
Lot area
0.16 ac
Year built
1940
Stories
2
APN
02-4203-009-6250
Zoning
6503:COMMERCIAL
Assessed value
$2,200,782
Annual tax
$41,588
3
Income approach: direct capitalization
Partial preview
Income approach indication
$3.22M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$3.49M
@ 6.5% CAP return
$3.22M
@ 7% CAP return
$2.99M
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$2.35M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 25 sales
$835
-68%
Submarket 664 sales
$739
-64%
County 734 sales
$674
-61%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $265/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Implied cap rate
8.90%
Implied, in-place cap rate for this retail residential properties
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 8.90%
9.0%
NOI (est.)
$177k *
Last sale · Jul 2022
$2.52M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.98M
Move the market yield to see immediate price impact.
Value / SF
$224
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
8.40%8.90%9.40%
$159k
$1.89M
$1.79M
$1.69M
$177k
$2.10M
$1.98M
$1.88M
$194k
$2.31M
$2.18M
$2.07M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$41,588
Tax year 2023
Assessed value
$2,200,782
Assessed 2023
Previous assessed
$2,200,782
+0.0% YoY
Effective rate
1.89%
On assessed value
Assessed land
$1,596,000
Assessed improvement
$604,782
Land market value
$1,596,000
Improvement market value
$604,782
Total market value
$2,200,782
Applied tax rate
200.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Status
For Sale
Year built
1940
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
2
Units
5
Total area
8,858 SF
Lot
0.16 ac (7,000 SF)
Zoning code
6503:COMMERCIAL
APN
02-4203-009-6250
UPID
US19-0476082
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6503:COMMERCIAL · Miami Beach, FLZoning 6503:COMMERCIAL · permitted uses
6503:COMMERCIAL · Miami Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1940
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Units
5
Lot
0.16 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
6503:COMMERCIAL
Jurisdiction
Miami Beach, FL
Recorded code
6503:COMMERCIAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for 6503:COMMERCIAL in Miami Beach, FL.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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