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Property profile & analytics
OFF-MARKET
Estimated value
$1,380,000
Commercial land
6949 Bay Dr Miami Beach, FL 33141-5489
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US19-0489106
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1936
Construction
CONCRETE
Total area
4,898 SF
Lot
0.22 ac (9,750 SF)
Zoning code
3900:MULTI-FAM,38-62 U/A
APN
02-3210-013-0180
UPID
US19-0489106
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.78M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.38M
Owner & transaction history
Pico Real Estate Corp · 15 yrs held
Pico Real Estate Corp
since 2010
7 recorded transactions
Zoning & alternative use
3900:MULTI-FAM,38-62 U/A · Miami Beach, FL
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 Miami Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Miami Beach 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,930,000
6.5%
$1,780,000
7%
$1,655,000
Blend value · Realmo final
$1.38M
Range $1.24M – $1.52M · ±10%
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
$282 / 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
$17,477
Tax year 2023
Assessed value
$1,076,729
Assessed 2023
Previous assessed
$1,076,729
+0.0% YoY
Effective rate
1.62%
On assessed value
Assessed land
$1,072,500
Assessed improvement
$4,229
Land market value
$1,072,500
Improvement market value
$4,229
Total market value
$1,076,729
Applied tax rate
200.0000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1936
Construction
CONCRETE
Heating
NONE
Stories
2
Bathrooms
9
Total area
4,898 SF
Lot
0.22 ac (9,750 SF)
Zoning code
3900:MULTI-FAM,38-62 U/A
APN
02-3210-013-0180
UPID
US19-0489106
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
3900:MULTI-FAM,38-62 U/A · Miami Beach, FLZoning 3900:MULTI-FAM,38-62 U/A · permitted uses
3900:MULTI-FAM,38-62 U/A · Miami Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Zoning Ordinance
Building & site characteristics
From public records
Year built
1936
Construction
CONCRETE
Heating
NONE
Stories
2
Bathrooms
9
Lot
0.22 ac
Current owner
From public records · entity-resolved
Pico Real Estate Corp
Entity
Mailing address
2136 NE 123RD ST, NORTH MIAMI, FL 33181-2902
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 30, 2010
$430,000
Pico Real Estate Corp
Bfg Real Estate Holdings INC
Grant Deed
—
Sep 30, 2010
—
Bfg Real Estate Holdings INC
Great Fl Bk
Quit Claim Deed
related
—
Jul 22, 2010
$269,600
Bfg Real Estate Holdings INC
6949 Bay Partners INC Coc
Trustees Deed
related
—
Sep 29, 2009
$369,900
Great Fl Bk
6949 Bay Partners INC
Warranty Deed
—
Jun 20, 2008
—
6949 Bay Partners INC
—
Trustees Deed
related
$300,000 · Gregory Alvarez
Apr 18, 2008
—
6949 Bay Partners INC
—
Trustees Deed
related
$1,000 · Capital Mortgage LLC
Jul 17, 2006
$500,000
6949 Bay Partners INC
Philips Dev Group II INC
Quit Claim Deed
related
—
Mar 31, 2003
$740,000
Phillips Development Group INC
Presic,vladen
Grant Deed
$518,000 · Colonial Bank
—
—
6949 Bay Partners INC
—
Deed Of Trust
related
$300,000 · Gregory Alvarez
—
—
Pico Real Estate Corp
—
Deed Of Trust
related
$650,000 · Horst Philipp
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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