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

    611 71st Ave Miami, FL 33144-2724

    • Warehouses
    • 15,920 SF
    • 0.47 lot acres
    OFF-MARKET
    Last Sale
    Aug 14, 2020
    Value Estimations
    $2,125,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3186264
    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

    • The Collision Center Inc / Auto Body Shop

    Property Details for 611 71st Ave

    Year built
    1957
    Construction
    CONCRETE
    Lot size
    0.47 lot acres
    Property size
    15,920 SF
    Zone code
    7000:INDUSTRIAL,GENERAL
    Property type
    Warehouses
    APN
    01-4002-013-0010
    APU
    140020130010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.3096
    Latitude
    25.7644
    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
    $28,570
    $1,228,380
    $675,620
    $1,904,000
    -
    $1,228,380
    $675,620
    $1,904,000

    Comparable in this City

    • Value Estimation
      $1,850,000
      11,536 SF

      880 68th Ct

      WAREHOUSE, STORAGE • 11,536 SF
      880 68th Ct, Miami, FL 33144-4721
      View Details
    • Value Estimation
      $2,020,000
      12,732 SF

      900 69th Ave

      WAREHOUSE, STORAGE • 12,732 SF
      900 69th Ave, Miami, FL 33144-4731
      View Details
    • Value Estimation
      $630,000
      4,640 SF

      519 71st Ave

      WAREHOUSE, STORAGE • 4,640 SF
      519 71st Ave, Miami, FL 33144-2722
      View Details
    • Value Estimation
      $1,540,000
      9,000 SF

      701 71st Ave

      WAREHOUSE, STORAGE • 9,000 SF
      701 71st Ave, Miami, FL 33144-2726
      View Details
    • Value Estimation
      $640,000
      4,560 SF

      587 71st Ave

      WAREHOUSE, STORAGE • 4,560 SF
      587 71st Ave, Miami, FL 33144-2722
      View Details
    • Value Estimation
      $2,145,000
      16,008 SF

      401 71st Ave

      WAREHOUSE, STORAGE • 16,008 SF
      401 71st Ave, Miami, FL 33144-2720
      View Details

    Similar Nearby for Sale

    • $5,000,000
      5,237 SF

      Miami Industrial Warehouse - $5M

      Established Transmission Shop, Turnkey Operation
      7007 13Th Ter, Miami, FL 33144
      View Details
    • $1,295,000

      Free Standing Building For Sale

      Centrally located free standing building, used as printing company.
      710 SW 73Rd Ct, Miami, FL 33144
      View Details
    • $800,000

      Prime Miami Restaurant for Sale

      Established eatery, high traffic area, owner financing.
      7406-7400 8Th St, Miami, FL 33144
      View Details
    • Contact for pricing

      Commercial Space on 8th Street

      Commercial space with divided offices, parking, and client potential.
      6355 SW 8Th St 2-E, Miami, FL 33144
      View Details
    • $60,000

      Remodeled Beauty Salon on High-Traffic

      Turnkey beauty salon with a fast-growing customer base.
      8150 SW 8, Miami, FL 33144
      View Details
    • $475,000

      Professional Office Space in Miami

      1,068 SF office with private offices, reception, and kitchenette.
      8370 W Flagler St, Miami, FL 33144
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      925 SF

      Miami Warehouse with Palmetto Exposure

      Street-level industrial warehouse suitable for manufacturing, storage, office, import/export.
      4650-4666 SW 75Th Ave, Miami, FL 33144
      View Details
    • Contact for pricing
      355,051 SF

      Flagler Park Plaza: Miami Retail Center

      Prime Miami retail space; multiple suites available.
      0 82 Ave, Fontainebleau, FL 33144
      View Details
    • $18 SF/Yr
      820 SF

      Executive Offices with 24/7 Access

      Executive offices for rent with 24/7 access and parking.
      2501-2545 NW 72Nd Ave, Miami, FL 33144
      View Details
    • Contact for pricing

      Flagler Street Retail with Drive-Thru

      3,567 SF building with drive-thru on 1.2 acres.
      7901 West Flagler St, Miami, FL 33144
      View Details
    • $3,000 /Mo

      Spacious Home Near Palmetto Expressway

      3-bedroom, 2-bathroom home near shopping, airport, and expressway.
      7880 Grand Canal Dr, Miami, FL 33144
      View Details
    • $2,800 /Mo

      West Miami Mixed-Use Commercial Space

      Flexible commercial space in high-traffic West Miami location.
      5798 SW 8Th St, Miami, FL 33144
      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.
    611 71st Ave
    Miami, FL 33144-2724
    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.