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Property profile & analytics
OFF-MARKET
Estimated value
$950,000
Office buildings
645 128th St, North Miami, FL 33168-2735
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-3932055
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1951
Construction
CONCRETE
Total area
1,260 SF
Lot
0.19 ac (8,100 SF)
Zoning code
6601:COMMERCIAL
APN
06-2125-004-0260
UPID
US18-3932055
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
$950k
CAP Approach
CAP
$595k
Comparable Approach
Comparable
$1.08M
Blend (final)
Blend
$950k
Owner & transaction history
U Haul Co Of Florida · 1 yrs held
U Haul Co Of Florida
since 2024
Last sale
$950,000
1 recorded transaction
Zoning & alternative use
6601:COMMERCIAL · North Miami, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$930,000
+8.4%
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 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
$950,000
ML approach
$950,000
CAP Approach
CAP Return
Estimation
6%
$645,000
6.5%
$595,000
7%
$550,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$860,000
Current use
COMMERCIAL (GENERAL)
$930,000
Change: +8% · Conversion: Easy
AUTO REPAIR, GARAGE
$825,000
Change: -4% · Conversion: Difficult
RETAIL STORES
$720,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$950k
Range $855k – $1.05M · ±10% · vs last sale $950k (Nov 22 2024)
Last sale anchor
$950k
Nov 22 2024
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
$754 / 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
$5,931
Tax year 2023
Assessed value
$266,381
Assessed 2023
Previous assessed
$266,607
-0.1% YoY
Effective rate
2.23%
On assessed value
Assessed land
$202,500
Assessed improvement
$63,881
Land market value
$202,500
Improvement market value
$63,881
Total market value
$266,381
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1951
Construction
CONCRETE
Heating
NONE
Stories
1
Bathrooms
1
Total area
1,260 SF
Lot
0.19 ac (8,100 SF)
Zoning code
6601:COMMERCIAL
APN
06-2125-004-0260
UPID
US18-3932055
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
OFFICE BUILDING Current
Est. value
$860,000
COMMERCIAL (GENERAL)
Est. value
$930,000
AUTO REPAIR, GARAGE
Est. value
$825,000
RETAIL STORES
Est. value
$720,000
OFFICE BUILDING Current
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
1951
Construction
CONCRETE
Heating
NONE
Stories
1
Bathrooms
1
Lot
0.19 ac
Current owner
From public records · entity-resolved
U Haul Co Of Florida
Entity
Free & Clear · 1 yrs held
Mailing address
6775 RICKWOOD DR, PENSACOLA, FL 32526-8079
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 22, 2024
$950,000
U Haul Co Of Florida
Thomas A Lostetter
Special Warranty Deed
—
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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