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Property profile & analytics
OFF-MARKET
Estimated value
$1,710,000
Outlet malls
5841 Flagler St Miami, FL 33144-3316
Entity Owned
3-yr Hold
Free & Clear
Property ID
US18-4993878
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1971
Construction
CONCRETE
Total area
7,076 SF
Lot
0.31 ac (13,352 SF)
Zoning code
6100:COMMERCIAL,NEIGHBRHD
APN
01-4001-003-2000
UPID
US18-4993878
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
-
El Encanto Clothing Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.06M
Blend (final)
Blend
$1.71M
Owner & transaction history
Westar Flagler Center LLC · 3 yrs held
Westar Flagler Center LLC
since 2022
5 recorded transactions
Zoning & alternative use
6100:COMMERCIAL,NEIGHBRHD · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$2,315,000
Current use
WAREHOUSE, STORAGE
$2,105,000
Change: -9% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,010,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$1.71M
Range $1.54M – $1.88M · ±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
$242 / 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
$31,739
Tax year 2023
Assessed value
$1,544,000
Assessed 2023
Previous assessed
$1,122,600
+37.5% YoY
Effective rate
2.06%
On assessed value
Assessed land
$934,640
Assessed improvement
$609,360
Land market value
$934,640
Improvement market value
$609,360
Total market value
$1,544,000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1971
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
7,076 SF
Lot
0.31 ac (13,352 SF)
Zoning code
6100:COMMERCIAL,NEIGHBRHD
APN
01-4001-003-2000
UPID
US18-4993878
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6100:COMMERCIAL,NEIGHBRHD · Miami, FL
Zoning 6100:COMMERCIAL,NEIGHBRHD · permitted uses
6100:COMMERCIAL,NEIGHBRHD · 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
RETAIL STORES Current
Est. value
$2.3M
WAREHOUSE, STORAGE
Est. value
$2.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.0M
RETAIL STORES Current
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1971
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.31 ac
Current owner
From public records · entity-resolved
Westar Flagler Center LLC
Entity
Free & Clear · 3 yrs held
Mailing address
9615 SW 118TH ST, MIAMI, FL 33176-4233
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 19, 2022
—
Westar Flagler Center LLC
Westar Sc Holdings LLC
Intrafamily Transfer
related
—
Jul 8, 2021
—
Westar Sc Holdings LLC
—
Deed
related
$75,000 · Imc Private Capital LLC
Jul 28, 2020
$1,450,000
Westar Sc Holdings LLC
West Flagler Acquisition LLC
Grant Deed
—
Aug 6, 2012
—
West Flagler Acquisition LLC
Kirby Grover L Trust
Grant Deed
related
—
Feb 5, 1997
—
Kirby Trust
Kirby,grover L
Quit Claim Deed
related
—
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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