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Property profile & analytics
OFF-MARKET
Estimated value
$14,510,000
Hotels
5560 Waterford District Dr Miami, FL 33126-2028
Entity Owned
3-yr Hold
Free & Clear
Property ID
US18-0454932
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1972
Construction
CONCRETE
Total area
142,350 SF
Lot
1.45 ac (63,120 SF)
Zoning code
6400:COMMERCIAL,CENTRAL
APN
30-3131-015-0010
UPID
US18-0454932
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.97M
CAP Approach
CAP
$16.48M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$14.51M
Owner & transaction history
5550 Bl Drive Management LLC · 3 yrs held
5550 Bl Drive Management LLC
since 2022
Last sale
$14.0M
7 recorded transactions
Zoning & alternative use
6400:COMMERCIAL,CENTRAL · Miami, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$13,525,000
ML approach
$8,970,000
CAP Approach
CAP Return
Estimation
6%
$17,850,000
6.5%
$16,480,000
7%
$15,300,000
Blend value · Realmo final
$14.51M
Range $13.06M – $15.96M · ±10% · vs last sale $14.02M (Dec 28 2022)
Last sale anchor
$14.02M
Dec 28 2022
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
$102 / 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
$340,087
Tax year 2023
Assessed value
$19,941,642
Assessed 2023
Previous assessed
$1,263,400
+1,478.4% YoY
Effective rate
1.71%
On assessed value
Assessed land
$1,262,400
Assessed improvement
$18,679,242
Land market value
$1,262,400
Improvement market value
$18,679,242
Total market value
$19,941,642
Applied tax rate
3,000.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1972
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Buildings
2
Stories
10
Bathrooms
270
Total area
142,350 SF
Lot
1.45 ac (63,120 SF)
Zoning code
6400:COMMERCIAL,CENTRAL
APN
30-3131-015-0010
UPID
US18-0454932
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6400:COMMERCIAL,CENTRAL · Miami, FL
Zoning 6400:COMMERCIAL,CENTRAL · permitted uses
6400:COMMERCIAL,CENTRAL · 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.
Building & site characteristics
From public records
Year built
1972
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
10
Buildings
2
Bathrooms
270
Lot
1.45 ac
Current owner
From public records · entity-resolved
5550 Bl Drive Management LLC
Entity
Free & Clear · 3 yrs held
Mailing address
82 NWNW DR #204, MIAMI, FL 33126-4258
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 28, 2022
$14,022,900
5550 Bl Drive Management LLC
Columbia Hospitality INC
Special Warranty Deed
—
Jan 5, 2021
—
Blue Lagoon Mia LLC
—
Deed
related
$3,700,000 · Colliers Funding LLC
Sep 3, 2020
$470,700
5550 Bl Drive Investment LLC
Gainesville Capital LLC
Grant Deed
—
Feb 19, 2020
$10,425,000
Columbia Hospitality INC
57th Avenue Hospitality LLC
Grant Deed
—
Dec 4, 2018
—
Blue Lagoon Dev LLC
—
Grant Deed
related
$20,903,266 · Firstbank Florida
Dec 29, 2017
$6,000,000
Blue Lagoon Mia LLC
Blue Lagoon Development LLC
Special Warranty Deed
$3,736,000 · Dougherty Funding LLC
Jun 4, 2007
—
Blue Lagoon Dev LLC
—
Deed Of Trust
related
$41,834,250 · Firstbank Puerto Rico Miami Ag
Nov 21, 2006
$13,166,000
Blue Lagoon Dev LLC
Garber Hotel Investments LLC
Warranty Deed
—
Feb 19, 2004
$6,317,500
Garber Hotel Investments LLC
Dt-miami LP
Grant Deed
$7,000,000 · Totalbank
Jul 16, 1999
$11,848,000
Dt-miami LP
Pah-dt Miami Airport Partners
Grant Deed
$346,000 · Bear Stearns Funding INC
—
—
Blue Lagoon Dev LLC
—
Deed Of Trust
related
$12,997,441 · Firstbank Puerto Rico Miami Ag
—
—
Blue Lagoon Dev LLC
—
Loan Modification
related
$6,489,768 · Firstbank Florida
—
—
Blue Lagoon Mia LLC
—
Loan Modification
related
$3,700,000 · Colliers Funding LLC
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.
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