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Property profile & analytics
OFF-MARKET
Estimated value
$2,890,000
Office buildings
5920 68th St South Miami, FL 33143-3524
Entity Owned
5-yr Hold
Free & Clear
Property ID
US18-1535594
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1950
Construction
CONCRETE
Total area
5,653 SF
Lot
0.34 ac (14,600 SF)
Zoning code
6506:COMMERCIAL
APN
09-4025-028-1440
UPID
US18-1535594
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.66M
Comparable Approach
Comparable
$3.82M
Blend (final)
Blend
$2.89M
Owner & transaction history
68th Street Develoment LLC · 5 yrs held
68th Street Develoment LLC
since 2020
Last sale
$2.5M
5 recorded transactions
Zoning & alternative use
6506:COMMERCIAL · South Miami, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.2M
+13.8%
Commercial (general)
$4.2M
+13.5%
Auto repair, garage
$3.7M
+0.4%
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 South Miami submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South 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%
$2,885,000
6.5%
$2,660,000
7%
$2,470,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,685,000
Current use
RESTAURANT
$4,190,000
Change: +14% · Conversion: Moderate
COMMERCIAL (GENERAL)
$4,180,000
Change: +13% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,695,000
Change: +0% · Conversion: Difficult
RETAIL STORES
$3,235,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$2.89M
Range $2.60M – $3.18M · ±10% · vs last sale $2.50M (Aug 4 2020)
Last sale anchor
$2.50M
Aug 4 2020
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
$511 / 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
$38,564
Tax year 2023
Assessed value
$2,000,000
Assessed 2023
Previous assessed
$1,900,000
+5.3% YoY
Effective rate
1.93%
On assessed value
Assessed land
$730,000
Assessed improvement
$1,270,000
Land market value
$730,000
Improvement market value
$1,270,000
Total market value
$2,000,000
Applied tax rate
900.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1950
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
5,653 SF
Lot
0.34 ac (14,600 SF)
Zoning code
6506:COMMERCIAL
APN
09-4025-028-1440
UPID
US18-1535594
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6506:COMMERCIAL · South Miami, FLZoning 6506:COMMERCIAL · permitted uses
6506:COMMERCIAL · South Miami, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.7M
RESTAURANT
Est. value
$4.2M
COMMERCIAL (GENERAL)
Est. value
$4.2M
AUTO REPAIR, GARAGE
Est. value
$3.7M
RETAIL STORES
Est. value
$3.2M
OFFICE BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
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
1950
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.34 ac
Current owner
From public records · entity-resolved
68th Street Develoment LLC
Entity
Free & Clear · 5 yrs held
Mailing address
5920 SW 68TH ST, SOUTH MIAMI, FL 33143-3524
Mailing matches property
Yes
Owner-occupied
Yes
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 4, 2020
$2,500,000
68th Street Develoment LLC
5920 Crn South LLC
Warranty Deed
—
Jun 20, 2008
$875,000
5920 Crn South LLC
Berrin Cookie Ents LLC
Warranty Deed
$1,100,000 · Mellon United National Bank
Oct 12, 2000
$150,000
Berrin Cookie Enterprises LLC
Berrin,lawrence S & Sheryl J
Grant Deed
related
—
Nov 4, 1997
$139,050
Lawrence S Berrin
South Miami Bakery INC
Grant Deed
—
—
—
5920 Crn South LLC
—
Deed Of Trust
related
$110,000 · Mellon United National Bank
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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