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    680 71st St Miami, FL 33150-3848

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    680 71st St Miami, FL 33150-3848

    View on Map
    • Office buildings
    • 1,250 SF
    • 0.06 lot acres
    Off-Market
    Property ID
    US18-2705754
    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

    • 71 Shine Shop / Car Wash
    • Worldwide car connect / Auto Repair Shop
    • MPH Imports & Export INC / Car Dealership

    Property Details for 680 71st St

    Year built
    1934
    Construction
    CONCRETE
    Lot size
    0.06 lot acres
    Property size
    1,250 SF
    Zone code
    7000:INDUSTRIAL,GENERAL
    Property type
    Office buildings
    APN
    01-3113-024-1010
    APU
    131130241010

    Description

    This exceptional mixed-use investment opportunity encompasses two buildings totaling 2,444 square feet on a combined 10,125 square foot lot in Miami, Florida. Located at 660 & 680 NW 71st Street, this property presents a compelling chance for redevelopment. The buildings, constructed in 1934, are situated in Miami-Dade County, zip code 33150, just west of the vibrant Little River neighborhood. The property consists of three parcels (folios 01-3113-024-1270, 01-3113-024-1010, 01-3113-024-1000), with individual lot sizes of 2,550, 2,575, and 4,120 square feet respectively. One building features a drive-in door. The property boasts D1 zoning, allowing for both commercial and industrial uses, with a maximum height of eight stories and a maximum density of 36 dwelling units per acre. Offered at $3,050,000, this translates to a price per square foot of $1,247.95. This presents a unique chance to capitalize on Miami's thriving real estate market and the potential for significant development within this dynamic area. The property's strategic location and flexible zoning make it an ideal investment for a variety of development projects.

    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
    -80.2084
    Latitude
    25.8394
    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
    $2,925
    $103,000
    $66,100
    $169,100
    -
    $103,000
    $66,100
    $169,100

    Comparable in this City

    • Value Estimation
      $1,395,000
      3,961 SF

      6464 Miami Ave

      PROFESSIONAL BUILDING • 3,961 SF
      6464 Miami Ave, Miami, FL 33150-4520
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    • Value Estimation
      $4,200,000
      10,760 SF

      10500 7th Ave

      OFFICE BUILDING • 10,760 SF
      10500 7th Ave, Miami, FL 33150-1006
      View Details
    • Value Estimation
      $1,425,000
      6,015 SF

      9201 8th Ave

      OFFICE BUILDING • 6,015 SF
      9201 8th Ave, Miami, FL 33150-2045
      View Details
    • Value Estimation
      $1,840,000
      7,672 SF

      799 62nd St

      OFFICE BUILDING • 7,672 SF
      799 62nd St, Miami, FL 33150-4331
      View Details
    • Value Estimation
      $3,265,000
      1,078 SF

      255 71st St

      OFFICE BUILDING • 1,078 SF
      255 71st St, Miami, FL 33150-3738
      View Details
    • Value Estimation
      $565,000
      1,994 SF

      17 84th St

      OFFICE BUILDING • 1,994 SF
      17 84th St, Miami, FL 33150-2620
      View Details

    Similar Nearby for Sale

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    Miami, FL 33150-3848
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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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