Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    61 41st St Miami, FL 33137-3513
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    61 41st St Miami, FL 33137-3513

    View on Map
    • Office buildings
    • 37,326 SF
    • 0.30 lot acres
    Off-Market
    Property ID
    US19-0878095
    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.
    Value Estimations
    $15,630,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Institute of Contemporary Art, Miami / Art Museum / Arts Organization
    • Art canter / Art Gallery

    Property Details for 61 41st St

    Year built
    2017
    Construction
    CONCRETE
    Lot size
    0.30 lot acres
    Property size
    37,326 SF
    Zone code
    8000:COMMUNITY FACILITY
    Property type
    Office buildings
    APN
    01-3124-024-1330
    APU
    131240241330

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $19,035,000
      6.5%
      $17,570,000
      7%
      $16,315,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $19,776,000
      Market price range: $11.4M - $35.8M
      AI Estimate
      $9,540,000
      Market price range: $2.87M - $19.3M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $22,975,000
      Current use
      AUTO REPAIR, GARAGE
      $24,405,000
      Change: +6% Conversion: Difficult
      RETAIL STORES
      $23,330,000
      Change: +2% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1943
    Latitude
    25.8144
    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
    $0.00
    $7,546,875
    $4,912,582
    $12,459,457
    -
    $7,546,875
    $4,912,582
    $12,459,457

    Comparable in this City

    • Value Estimation
      $565,000
      1,597 SF

      4770 Biscayne Blvd Ste, Unit 540

      OFFICE BUILDING (MULTI-STORY) • 1,597 SF
      4770 Biscayne Blvd Ste, Miami, FL 33137-3225
      View Details
    • Value Estimation
      $875,000
      2,475 SF

      4770 Biscayne Blvd Ste, Unit 600

      OFFICE BUILDING (MULTI-STORY) • 2,475 SF
      4770 Biscayne Blvd Ste, Miami, FL 33137-3225
      View Details
    • Value Estimation
      $505,000
      1,357 SF

      4770 Biscayne Blvd Ste, Unit 740

      OFFICE BUILDING (MULTI-STORY) • 1,357 SF
      4770 Biscayne Blvd Ste, Miami, FL 33137-3244
      View Details
    • Value Estimation
      $620,000
      1,757 SF

      4770 Biscayne Blvd Ste, Unit 30

      OFFICE BUILDING (MULTI-STORY) • 1,757 SF
      4770 Biscayne Blvd Ste, Miami, FL 33137-3213
      View Details
    • Value Estimation by Request
      1,319 SF

      4770 Biscayne Blvd Ste, Unit 460

      OFFICE BUILDING (MULTI-STORY) • 1,319 SF
      4770 Biscayne Blvd Ste, Miami, FL 33137-3239
      View Details
    • Value Estimation by Request
      337 SF

      600 36th St Ste C3

      OFFICE BUILDING (MULTI-STORY) • 337 SF
      600 36th St Ste C3, Miami, FL 33137-3961
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      53,630 SF

      Renovated Edgewater Office Building

      Five-story office building in Miami's Edgewater neighborhood.
      2125 Biscayne Blvd, Miami, FL 33137
      View Details
    • Contact for pricing
      8,710 SF

      Midtown Miami Retail Property

      Two-story retail property in Miami's thriving Midtown district.
      45 NE 36Th St, Miami, FL 33137
      View Details
    • Contact for pricing

      State-of-the-Art Recording Studio

      Commercial zoned building with recording studio in the Design District.
      5020 Biscayne Boulevard Way, Miami, FL 33137
      View Details
    • Contact for pricing
      1,274 SF

      Freestanding Building in Urban Corridor

      Located where Midtown, Edgewater, and Wynwood meet, Miami, FL.
      85-89 NE 27Th St, Miami, FL 33137
      View Details
    • $1,249,000
      2,400 SF

      Prime Miami Office Space

      $1.25M, 2400 SF, Updated Office
      4770 Biscayne Blvd, Miami, FL 33137
      View Details

    Similar Nearby for Lease

    • $35 SF/Yr

      Miami Office/Medical Building For Rent

      Five-story office/medical building in Miami's Biscayne Corridor Submarket.
      3000 Biscayne Blvd, Miami, FL 33137
      View Details
    • $4 SF/Yr
      2,730 SF

      4300 Biscayne Blvd

      Office properties & Spaces
      4300 Biscayne Blvd, Miami, FL 33137
      View Details
    • $35 SF/Yr
      1,058 SF

      Medical Office in Biscayne Corridor

      Class C medical office space for lease in Miami.
      3000-3030 Biscayne Blvd, Miami, FL 33137
      View Details
    • $75 SF/Yr
      25,101 SF

      Modern Office Space with Amenities

      Office space featuring rooftop access, terraces, and fitness center.
      95 NW 29Th St, Miami, FL 33137
      View Details
    • $360 /Mo
      1 SF

      Prime Miami Office Space

      1,373 sq ft Office, High Visibility
      5050 Biscayne Blvd, Miami, FL 33137
      View Details
    • Contact for pricing

      Retail/Office Space For Lease

      Retail or office space available for lease in prime location.
      480 NE 31St St, Miami, FL 33137
      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.
    61 41st St
    Miami, FL 33137-3513
    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.
    Sign Up Successful!
    You now have access to more from Realmo!