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Property profile & analytics
OFF-MARKET
Estimated value
$1,000,000
Warehouses
625 121st St North Miami, FL 33168-2530
Entity Owned
10-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-1644147
Property summary
AI-generated overview
This charming 1941-built North Miami duplex presents a fantastic investment opportunity. Situated on a spacious 10,696 square foot lot at 625 NE 121st St, 33161, this property offers two units with significant potential for expansion or redevelopment. The main house features two bedrooms, one bathroom, a full kitchen, and a family room, while the back house includes one bedroom, one bathroom, and a full kitchen. Each unit has its own electric meter. The property's R-5 multifamily zoning allows for the development of up to nine units, presenting a compelling opportunity to increase rental income or construct townhouses. The existing structure offers 1,748 square feet of living space. The property also boasts a beautiful backyard oasis and ample parking. Its prime location in North Miami, Florida, within Miami-Dade County, makes it an attractive option for both long-term rental income and short-term rentals such as Airbnb or vacation rentals. The asking price is $750,000. This is a single-story building with endless possibilities for the savvy investor.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2006
Construction
CONCRETE
Total area
6,020 SF
Lot
0.15 ac (6,750 SF)
Zoning code
6601:COMMERCIAL
APN
06-2125-018-1190
UPID
US18-1644147
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.22M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.00M
Owner & transaction history
Harvard Retail Corp · 10 yrs held
Harvard Retail Corp
since 2016
7 recorded transactions
Zoning & alternative use
6601:COMMERCIAL · North 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 North Miami submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North 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%
$1,315,000
6.5%
$1,215,000
7%
$1,125,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,655,000
Current use
Blend value · Realmo final
$1.00M
Range $900k – $1.10M · ±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
$166 / 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
$19,465
Tax year 2023
Assessed value
$1,211,000
Assessed 2023
Previous assessed
$912,000
+32.8% YoY
Effective rate
1.61%
On assessed value
Assessed land
$168,750
Assessed improvement
$1,042,250
Land market value
$168,750
Improvement market value
$1,042,250
Total market value
$1,211,000
Applied tax rate
600.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2006
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
2
Total area
6,020 SF
Lot
0.15 ac (6,750 SF)
Zoning code
6601:COMMERCIAL
APN
06-2125-018-1190
UPID
US18-1644147
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6601:COMMERCIAL · North Miami, FL
Zoning 6601:COMMERCIAL · permitted uses
6601:COMMERCIAL · North Miami, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Miami. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.7M
WAREHOUSE, STORAGE Current
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
2006
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Lot
0.15 ac
Current owner
From public records · entity-resolved
Harvard Retail Corp
Entity
Free & Clear · 10 yrs held
Mailing address
401 BISCAYNE BLVD STE N120, MIAMI, FL 33132-1969
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 27, 2016
—
Harvard Retail Corp
Schmidt,cristian B
Grant Deed
related
—
Jan 7, 2015
$595,000
Harvard Retail Group
Schmidt,cristian B
Warranty Deed
$476,000 · Bank Of America
Jun 7, 2006
—
Geronimo A Schmidt
Schmidt,cristian G
Quit Claim Deed
—
Dec 2, 2004
—
Cristian B Schmidt
Schmidt,geronimo A
Quit Claim Deed
related
—
Aug 21, 2003
$100,000
Geronimo A Schmidt
Coronado Custom Homes
Grant Deed
—
Mar 5, 2003
$35,000
Coronado Custom Homes INC
Foremost INC
Grant Deed
$35,000 · Nancy Walker
—
—
Geronimo A Schmidt
—
Deed Of Trust
related
$350,000 · Ocean 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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