Add Listing
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

    6470 62nd Ave Miami, FL 33143

    • Outlet malls
    • 2,948 SF
    • 0.11 lot acres
    OFF-MARKET
    Last Sale
    May 25, 2023
    Value Estimations
    $705,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4410844
    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

    • Palma Garage Repair LLC / Hardware & Home Improvement / Production Facility

    Property Details for 6470 62nd Ave

    Year built
    1960
    Construction
    CONCRETE
    Lot size
    0.11 lot acres
    Property size
    2,948 SF
    Zone code
    6100:COMMERCIAL,NEIGHBRHD
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    09-4025-012-0380
    APU
    940250120380

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $832,000
      Market price range: $832k - $3.45M

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.294
    Latitude
    25.7105
    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
    $7,641
    $250,000
    $143,271
    $393,271
    -
    $250,000
    $143,271
    $393,271

    Comparable in this City

    • Value Estimation
      $1,380,000
      2,568 SF

      1401 Sunset Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 2,568 SF
      1401 Sunset Dr, Coral Gables, FL 33143-5824
      View Details
    • Value Estimation
      $3,290,000
      3,200 SF

      7090 59th Pl

      WHOLESALE OUTLET, DISCOUNT STORE • 3,200 SF
      7090 59th Pl, South Miami, FL 33143-3528
      View Details
    • Value Estimation
      $3,525,000
      6,275 SF

      6050 Dixie Hwy

      WHOLESALE OUTLET, DISCOUNT STORE • 6,275 SF
      6050 Dixie Hwy, South Miami, FL 33143-5042
      View Details
    • Value Estimation
      $2,750,000
      7,228 SF

      5796 Sunset Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 7,228 SF
      5796 Sunset Dr, South Miami, FL 33143-5332
      View Details
    • Value Estimation
      $3,220,000
      10,077 SF

      7300 57th Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 10,077 SF
      7300 57th Ave, South Miami, FL 33143-5312
      View Details
    • Value Estimation
      $560,000
      1,358 SF

      7242 56th Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 1,358 SF
      7242 56th Ave, Miami, FL 33143
      View Details

    Similar Nearby for Sale

    • $2,295,000

      Colonnade Dadeland Retail/Office Space

      Class A mixed-use building, ideal for medical or professional business.
      8390 SW 72Nd Ave, Miami, FL 33143
      View Details
    • $75,000

      Coral Gables Salon Business Opportunity

      Full-service salon in Coral Gables, ready for operation.
      57Th Ave, Coral Gables, FL 33143
      View Details
    • Contact for pricing

      South Dixie Highway Commercial Space

      Commercial space for sale on South Dixie Highway.
      8603 South Dixie Hwy, Miami, FL 33143
      View Details
    • Contact for pricing

      Retail Property on Dixie Highway

      Retail property for sale on South Dixie Highway, Miami.
      6601 S Dixie Hwy, Miami, FL 33143
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      330,000 SF Miami Retail Center

      Multi-level power center anchored by major national retailers.
      8312 S Dixie Hwy, Miami, FL 33143
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space Near University of Miami

      Retail space available in high-income area near University of Miami.
      6600 SW 57Th Dr, South Miami, FL 33143
      View Details
    • Contact for pricing
      3,532 SF

      Retail Space in Downtown Doral

      Retail space for lease in Downtown Doral shopping center.
      5335 NW 87Th St, Doral, FL 33143
      View Details
    • Contact for pricing

      Remodeled Office Space for Lease

      Ground floor office perfect for medical, retail, or professional use.
      6141 Sunset Dr, South Miami, FL 33143
      View Details
    • $39 SF/Yr

      Modern Office Building in Grove

      Four-story boutique office building near Coconut Grove MetroRail.
      2937 SW 27Th Ave, Coconut Grove, FL 33143
      View Details
    • Contact for pricing
      10,350 SF

      Medley Industrial Warehouse Space

      Functional industrial warehouse space in Medley industrial market.
      7441-7571 NW 75Th Ave, Medley, FL 33143
      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.
    6470 62nd Ave
    Miami, FL 33143
    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!