Back to Search
Property profile & analytics
FOR LEASE
Bars & Pubs
55 24th St Miami, FL 33137-4828
Entity Owned
6-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-5673711
For Lease
$1,180,000
55 24th St, Miami, FL 33137-4828
View Listing →
Property profile
Verified
Property type
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Year built
1921
Construction
CONCRETE
Total area
14,630 SF
Lot
0.37 ac (15,960 SF)
Zoning code
6101
APN
01-3125-010-0170
UPID
US18-5673711
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
-
MAD CLUB Wynwood Nightclub DJ & Entertainment
-
EUPHORIA at MAD Club Wynwood Hotel & Motel Resort
-
La Otra at Mad Wynwood Nightclub DJ & Entertainment
-
Wynwood Factory Nightclub DJ & Entertainment
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$720k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.64M
Blend (final)
Blend
$1.18M
Owner & transaction history
24th St Magoo LLC · 6 yrs held
24th St Magoo LLC
since 2020
7 recorded transactions
Zoning & alternative use
6101 · Miami, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.9M
+16.7%
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 submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Miami 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
$720,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NIGHTCLUB (COCKTAIL LOUNGE)
$1,670,000
Current use
RESTAURANT
$1,945,000
Change: +17% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,400,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$1.18M
Range $1.06M – $1.30M · ±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
$81 / 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
$89,716
Tax year 2023
Assessed value
$4,361,413
Assessed 2023
Previous assessed
$3,970,405
+9.8% YoY
Effective rate
2.06%
On assessed value
Assessed land
$3,591,000
Assessed improvement
$770,413
Land market value
$3,591,000
Improvement market value
$770,413
Total market value
$4,361,413
Applied tax rate
100.0000
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
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Status
For Lease
Year built
1921
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
14,630 SF
Lot
0.37 ac (15,960 SF)
Zoning code
6101
APN
01-3125-010-0170
UPID
US18-5673711
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6101 · Miami, FL
Zoning 6101 · permitted uses
6101 · Miami, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Miami. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NIGHTCLUB (COCKTAIL LOUNGE) Current
Est. value
$1.7M
RESTAURANT
Est. value
$1.9M
WAREHOUSE, STORAGE
Est. value
$1.4M
NIGHTCLUB (COCKTAIL LOUNGE) Current
RESTAURANT
WAREHOUSE, STORAGE
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
1921
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.37 ac
Current owner
From public records · entity-resolved
24th St Magoo LLC
Entity
Free & Clear · 6 yrs held
Mailing address
309 NW 23RD ST #300, MIAMI, FL 33127-4317
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 17, 2020
—
55 Ne 24 Street Fee Owner LLC
—
Deed
related
$5,000,000 · Jp Morgan Chase Bk
Feb 26, 2020
—
24th St Magoo LLC
17 East Mr P LLC
Quit Claim Deed
related
—
Jul 25, 2018
—
17 East Mr P LLC
—
Grant Deed
related
$12,000,000 · Jpmorgan Chase Bk NA
Apr 13, 2018
—
55 Ne 24 Street Fee Owner LLC
—
Deed
related
$8,000,000 · Jp Morgan Chase Bk
Oct 19, 2017
—
55 Ne 24 Street Fee Owner LLC
—
Grant Deed
related
$7,200,000 · Jp Morgan Chase Bk
Apr 4, 2017
$1,312,500
55 Ne 24 Street Fee Owner LLC
Rosenthal
Warranty Deed
—
Jun 18, 1997
$306,000
Royal West INC
Mufson,florence G
Grant Deed
—
—
—
55 Ne 24 Street Fee Owner LLC
—
Loan Modification
related
$5,000,000 · Jp Morgan Chase Bk
—
—
55 Ne 24 Street Fee Owner LLC
—
Loan Modification
related
$8,000,000 · Jp Morgan Chase Bk
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?”
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.
