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    Property profile & analytics

    5830 2Nd Ave Miami, FL 33137

    • Automotive properties
    • 341 SF
    • 0.17 lot acres
    For Sale
    View listing
    $2,990,000
    Last Sale
    May 29, 2025
    $150,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0006618
    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

    • Toolsucanuse / Tool Rental Service

    Property Details for 5830 2Nd Ave

    Year built
    1953
    Construction
    CONCRETE
    Lot size
    0.17 lot acres
    Property size
    341 SF
    Zone code
    6101
    Property type
    Automotive properties
    APN
    01-3113-065-1700
    APU
    131130651700

    Description

    This exceptional opportunity presents a unique chance to acquire a four-parcel assemblage totaling 24,885 square feet of land in the vibrant Little Haiti neighborhood of Miami, Florida. Located on NE 2nd Avenue, this prime property boasts significant frontage and encompasses the entire north half of the block between NE 2nd Avenue and NE 1st Court. The assemblage consists of four contiguous lots, each with its own parcel identification number: 5830 NE 2nd Ave (T5-0 zoning), 154 NE 58 Terrace (T5-R zoning), 166 NE 58 (T5-R zoning), and 176 NE 58 Terrace (T5-R zoning). The T5 zoning allows for mixed-use development, permitting both residential and commercial construction up to five stories. Currently, an automotive business occupies Lot #1, while multifamily buildings are situated on Lots 2, 3, and 4. Income from these existing structures is unverified. This bulk sale presents a rare opportunity for redevelopment in a rapidly growing area, just blocks from the Magic City Innovation District, Design District, Buena Vista, Wynwood, and the Upper East Side. The asking price for this entire assemblage is $2,990,000, translating to a land value of $161 per square foot. Don't miss this chance to acquire a significant land holding in one of Miami's most dynamic neighborhoods.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $105,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $151,000
      Market price range: $13.7k - $171k

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1923
    Latitude
    25.829
    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
    $10,022
    $945,000
    $500
    $945,500
    -
    $945,000
    $500
    $945,500

    Comparable in this City

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      $265,000
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      225 59th St

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    • Value Estimation
      $1,555,000
      224,927 SF

      135 20th St

      VEHICLE SALES, RENTALS • 224,927 SF
      135 20th St, Miami, FL 33137
      View Details
    • Value Estimation
      $1,110,000
      135,368 SF

      2060 2nd Ave

      VEHICLE SALES, RENTALS • 135,368 SF
      2060 2nd Ave, Miami, FL 33137-4836
      View Details
    • Value Estimation
      $250,000
      525 SF

      6010 2nd Ave

      VEHICLE SALES, RENTALS • 525 SF
      6010 2nd Ave, Miami, FL 33137-2012
      View Details
    • Value Estimation
      $540,000
      9,731 SF

      29 29th St

      VEHICLE SALES, RENTALS • 9,731 SF
      29 29th St, Miami, FL 33137
      View Details
    • Value Estimation
      $560,000
      5,880 SF

      3005 2nd Ave

      VEHICLE SALES, RENTALS • 5,880 SF
      3005 2nd Ave, Miami, FL 33137-4113
      View Details

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    5830 2Nd Ave
    Miami, FL 33137
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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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