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

    5600 2nd Ave Miami, FL 33127-1667

    • Outlet malls
    • 3,678 SF
    • 0.14 lot acres
    OFF-MARKET
    Value Estimations
    $345,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-6228380
    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

    • Irismely's pizza / Restaurant
    • Athena Bitcoin ATM / Crypto Atm / Atm
    • B & T Tire Repair Inc / Used Tire Shop
    • Western Union / Money Transfer Service
    • U-Haul Neighborhood Dealer / Trailer Rental Service / Van Rental Agency

    Property Details for 5600 2nd Ave

    Year built
    1955
    Construction
    CONCRETE
    Lot size
    0.14 lot acres
    Property size
    3,678 SF
    Zone code
    6107:RESID-MEDIUM RETAIL
    Property type
    Outlet malls
    APN
    01-3113-048-0440
    APU
    131130480440

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $350,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $270,000
      Market price range: $270k - $1.03M

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2003
    Latitude
    25.8272
    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
    $7,754
    $307,250
    $155,183
    $462,433
    -
    $307,250
    $155,183
    $462,433

    Comparable in this City

    • Value Estimation
      $535,000
      7,744 SF

      274 27th St

      WHOLESALE OUTLET, DISCOUNT STORE • 7,744 SF
      274 27th St, Miami, FL 33127-4122
      View Details
    • Value Estimation
      $495,000
      5,000 SF

      525 29th St

      WHOLESALE OUTLET, DISCOUNT STORE • 5,000 SF
      525 29th St, Miami, FL 33127-3917
      View Details
    • Value Estimation
      $495,000
      5,939 SF

      2501 2nd Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 5,939 SF
      2501 2nd Ave, Miami, FL 33127-4305
      View Details
    • Value Estimation
      $555,000
      2,225 SF

      197 36th St

      WHOLESALE OUTLET, DISCOUNT STORE • 2,225 SF
      197 36th St, Miami, FL 33127
      View Details
    • Value Estimation
      $760,000
      16,947 SF

      2380 5th Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 16,947 SF
      2380 5th Ave, Miami, FL 33127-4310
      View Details
    • Value Estimation
      $370,000
      3,982 SF

      71 54th St

      WHOLESALE OUTLET, DISCOUNT STORE • 3,982 SF
      71 54th St, Miami, FL 33127-1712
      View Details

    Similar Nearby for Sale

    • $5,199,000
      11,193 SF

      Allapattah Retail Center Investment

      High-value retail center, future development potential.
      900 36Th St, Miami, FL 33127
      View Details
    • $1,900,000
      7,860 SF

      Miami Buena Vista Assemblage Opportunity

      Four-parcel assemblage in Miami's Buena Vista neighborhood with development potential.
      5300 NW 2Nd Ave, Miami, FL 33127
      View Details
    • Contact for pricing
      3,111 SF

      Wynwood Restaurant/Bar with Large Yard

      Second-generation bar/restaurant with 5,000 SF yard in Wynwood.
      176 NW 24Th St, Miami, FL 33127
      View Details
    • $1,100,000
      1,700 SF

      Office or Retail in Revitalizing Neighborhood

      Office or retail property in a high-traffic, revitalizing area.
      5621 Nw 7Th Ave, Miami, FL 33127
      View Details
    • $8,500,000

      Wynwood Development Site For Sale

      Prime 14,500 SF Wynwood development site with mixed-use potential.
      127 NW 24Th St, Miami, FL 33127
      View Details
    • $1,350,000

      Wynwood Mixed-Use Investment Opportunity

      Dual-address corner lot with income potential in Wynwood North.
      203 NW 35Th St, Miami, FL 33127
      View Details

    Similar Nearby for Lease

    • $45 SF/Yr
      1,680 SF

      Retail Space in Miami Center

      Retail space available in a neighborhood shopping center.
      11000 Northwest 7Th Avenue Cir, Miami, FL 33127
      View Details
    • Contact for pricing
      4,800 SF

      Retail Space in Opportunity Zone

      Retail property with strong tenant sales and minimal vacancy.
      1100-1186 NW 54Th St, Miami, FL 33127
      View Details
    • Contact for pricing
      9,697 SF

      Midtown Miami Retail Strip Center

      Prime Miami retail space, multiple suites available.
      3100 Miami Ave, Miami, FL 33127
      View Details
    • $0.22 SF/Yr
      3,000 SF

      Miami Restaurant - 3000 SF

      Prime Miami restaurant space, single tenant, 3000 sq ft.
      791 20Th St, Miami, FL 33127
      View Details
    • $37 SF/Yr
      4,700 SF

      Miami Retail Shops on NW 2nd Ave

      High-visibility retail space, Miami, FL
      5901 2Nd Ave, Miami, FL 33127
      View Details
    • $75 SF/Yr
      5,000 SF

      Wynwood Retail Space Available

      Prime Wynwood location, flexible space, high foot traffic.
      300 29Th St, Miami, FL 33127
      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.
    5600 2nd Ave
    Miami, FL 33127-1667
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.