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    6551 Collins Ave Miami Beach, FL 33141-4646
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    Property profile & analytics

    6551 Collins Ave Miami Beach, FL 33141-4646

    View on Map
    • Hotels
    • 246,217 SF
    • 1.14 lot acres
    Off-Market
    Property ID
    US19-0510480
    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
    $25,675,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hotels

    Property Details for 6551 Collins Ave

    Year built
    2014
    Construction
    CONCRETE
    Lot size
    1.14 lot acres
    Property size
    246,217 SF
    Zone code
    4100:MULTI-FAMILY,101+U/A
    Property type
    Hotels
    APN
    02-3211-007-0390
    APU
    232110070390

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $30,875,000
      6.5%
      $28,500,000
      7%
      $26,465,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami Beach
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1197
    Latitude
    25.8489
    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
    $703,897
    $34,010,250
    $5,289,750
    $39,300,000
    -
    $34,010,250
    $5,289,750
    $39,300,000

    Comparable in this City

    • Value Estimation
      $595,000
      7,903 SF

      8440 Harding Ave

      HOTEL • 7,903 SF
      8440 Harding Ave, Miami Beach, FL 33141-1216
      View Details
    • Value Estimation
      $505,000
      8,368 SF

      7130 Harding Ave

      HOTEL • 8,368 SF
      7130 Harding Ave, Miami Beach, FL 33141-3214
      View Details
    • Value Estimation
      $1,270,000
      20,878 SF

      8601 Harding Ave

      HOTEL • 20,878 SF
      8601 Harding Ave, Miami Beach, FL 33141-1219
      View Details
    • Value Estimation
      $4,000,000
      4,519 SF

      6945 Abbott Ave

      HOTEL • 4,519 SF
      6945 Abbott Ave, Miami Beach, FL 33141-3104
      View Details
    • Value Estimation
      $890,000
      15,364 SF

      6495 Indian Crk Dr

      HOTEL • 15,364 SF
      6495 Indian Crk Dr, Miami Beach, FL 33141-5804
      View Details
    • Value Estimation by Request

      7300 Ocean Ter

      Multifamily properties
      7300 Ocean Ter, Miami Beach, FL 33141
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      19,778 SF

      Miami Beach Hotel For Sale

      Two-story hotel near the ocean with long-term stay potential.
      6300 Collins Ave, Miami Beach, FL 33141
      View Details
    • $2,250,000

      Miami Beach Suites For Sale

      Fully occupied Miami Beach suites near North Shore Open Space Park.
      7936 Harding Ave, Miami Beach, FL 33141
      View Details
    • Contact for pricing
      1,384 SF

      Oceanfront Condo Hotel with Restaurant

      Miami Beach condo hotel with restaurant in a vibrant location.
      7300 Ocean Ter, Miami Beach, FL 33141
      View Details
    • Contact for pricing
      14,500 SF

      Oceanfront Condo Hotel with Restaurant

      Miami Beach condo hotel with restaurant in prime location.
      7300 Ocean Ter, Miami Beach, FL 33141
      View Details
    • $10,500,000
      19,824 SF

      Miami Beach Hospitality Investment Opportunity

      Prime hotel property near the beach in Miami Beach.
      6755 Harding Ave, Miami Beach, FL 33141
      View Details
    • $2,250,000

      Miami Beach Suites Near Beach

      Fully occupied suites near North Shore Open Space Park.
      7936 Harding Ave, Miami Beach, FL 33141
      View Details

    Similar Nearby for Lease

    • $0.43 SF/Yr
      2,250 SF

      Collins Ave Retail Space For Lease

      Prime Miami Beach Retail, High Foot Traffic
      6942 Collins Ave, Miami Beach, FL 33141
      View Details
    • $8,000 /Mo

      Miami Beach Office Space For Lease

      Office spaces available in North Beach with flexible configurations.
      6930 Collins Ave, Miami Beach, FL 33141
      View Details
    • Contact for pricing

      Prime Storefront in Miami Beach

      Open space with natural light, ideal for retail or office.
      1016 71St St, Miami Beach, FL 33141
      View Details
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    6551 Collins Ave
    Miami Beach, FL 33141-4646
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    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
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