Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    6345 NE 1St Ave Miami, FL 33138
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6345 NE 1St Ave Miami, FL 33138

    View on Map
    • Residential land & home lots
    • 4,750 SF
    Off-Market
    Property ID
    US18-6875910
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential land & home lots

    Property Details for 6345 NE 1St Ave

    Property size
    4,750 SF
    Property type
    Residential land & home lots

    Description

    The properties consist of three vacant lots "Little River" subdivision of Miami FL. The lots have similar zoning allowing for more density on the T4 lots and less on the T3. Combined, the lots total 21,580 ft of land with the potential "by right" to build twenty-three units. The owners' vision is that of a loosely tied "Townhome Enclave". All the parcels are positioned centrally within the Little River vicinity, nestled just northwest of the prosperous Edgewater and NIMO neighborhoods. To the south lie Downtown Miami and Miami Beach, while to the north, North Miami Beach remains a focal point for developers. As of 2024, it comprises 9% of Miami's units under construction, marking a significant surge from slightly over 4% prior to 2019. Sales volume accelerated in 2021 but has since slowed, with $110 million in volume in 2022 and 2023 volume totaling $170 million, still, this remains elevated relative to pre-pandemic levels.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.1941
    Latitude
    25.834414

    Comparable in this City

    • $1,099,500
      0.17 Acres

      Residential Lot Near Baywood Park

      Vacant residential lot in Miami's Historic Bayside neighborhood.
      891 NE 70Th St, Miami, FL 33138
      View Details
    • $7,500,000

      Residential Lots in Prime Location

      Eight residential vacant lots totaling 58,240 SF in Miami.
      890 NE 70Th St, Miami, FL 33138
      View Details
    • $6,995,000
      0.99 Acres

      Residential Lots in Bayside Neighborhood

      Six residential vacant lots in Miami's desirable Bayside neighborhood.
      860 NE 70Th St, Miami, FL 33138
      View Details
    • $1,620,000
      0.16 Acres

      Waterfront Lot with Ocean Access

      Waterfront lot with direct ocean access in Miami, Florida.
      531 NE 77, Miami, FL 33138
      View Details
    • New
      $2,950,000
      0.34 Acres

      Waterfront Lot in Miami

      14,744 SF waterfront lot ready for development.
      1051 NE 83Rd St, Miami, FL 33138
      View Details
    • $7,500,000
      0.20 Acres

      Residential Lots in Prime Location

      Eight residential vacant lots in Miami's historic neighborhood.
      890 NE 70Th St, Miami, FL 33138
      View Details

    Similar Nearby for Sale

    • $1,099,500
      0.17 Acres

      Residential Lot Near Baywood Park

      Vacant residential lot in Miami's Historic Bayside neighborhood.
      891 NE 70Th St, Miami, FL 33138
      View Details
    • $7,500,000

      Residential Lots in Prime Location

      Eight residential vacant lots totaling 58,240 SF in Miami.
      890 NE 70Th St, Miami, FL 33138
      View Details
    • $6,995,000
      0.99 Acres

      Residential Lots in Bayside Neighborhood

      Six residential vacant lots in Miami's desirable Bayside neighborhood.
      860 NE 70Th St, Miami, FL 33138
      View Details
    • $1,620,000
      0.16 Acres

      Waterfront Lot with Ocean Access

      Waterfront lot with direct ocean access in Miami, Florida.
      531 NE 77, Miami, FL 33138
      View Details
    • New
      $2,950,000
      0.34 Acres

      Waterfront Lot in Miami

      14,744 SF waterfront lot ready for development.
      1051 NE 83Rd St, Miami, FL 33138
      View Details
    • $7,500,000
      0.20 Acres

      Residential Lots in Prime Location

      Eight residential vacant lots in Miami's historic neighborhood.
      890 NE 70Th St, Miami, FL 33138
      View Details

    Similar Nearby for Lease

    • $1.09 SF/Yr
      27,425 SF

      Miami Warehouse: Prime Location

      27,425 SF Industrial Space, Single Tenant
      7301 1St Pl, Miami, FL 33138
      View Details
    • Contact for pricing
      3,200 SF

      Neighborhood Shopping Center Retail Space

      Retail space in a busy neighborhood shopping center.
      8000 NE 5Th Ave, Miami, FL 33138
      View Details
    • $2,350 /Mo

      Renovated Apartment with Modern Amenities

      Recently renovated apartment featuring modern appliances and central air.
      6231 NE 1St Ave, Miami, FL 33138
      View Details
    • $1,865 /Mo
      Pending

      Finished Office Suite in Miami Shores

      Turnkey 875 sq ft office suite in amenity-rich location.
      9200 NE 6Th Ave, Miami Shores, FL 33138
      View Details
    • Contact for pricing

      Mimo District Office Space

      Office space in the heart of the Mimo District.
      7100 Biscayne Blvd, Miami, FL 33138
      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.
    6345 NE 1St Ave
    Miami, FL 33138
    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!