Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    7000 97th Ave Ste, Unit 121 Miami, FL 33173-1474
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7000 97th Ave Ste, Unit 121 Miami, FL 33173-1474

    View on Map
    • Office buildings
    • 947 SF
    Off-Market
    Last Sale Nov 7, 2022
    $675,000
    Property ID
    US18-6121860
    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
    $615,000
    Show details
    Cap Rate Potential
    3.3%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Dr. Andres R. Palomo, MD / Physician

    Property Details for 7000 97th Ave Ste

    Year built
    1982
    Property size
    947 SF
    Zone code
    9500:OFFICE PARK DISTRICT
    Property type
    Office buildings
    APN
    30-4029-061-0140
    APU
    3040290610140

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $485,000
      6.5%
      $445,000
      7%
      $415,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $560,000
      Market price range: $365k - $560k
      AI Estimate
      $476,000
      Market price range: $53.9k - $476k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $460,000
      Current use
      COMMERCIAL (GENERAL)
      $700,000
      Change: +52% Conversion: Easy
      AUTO REPAIR, GARAGE
      $620,000
      Change: +34% Conversion: Difficult
      RETAIL STORES
      $540,000
      Change: +17% Conversion: Moderate
      MEDICAL BUILDING
      $415,000
      Change: -10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.3504
    Latitude
    25.7034
    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
    $7,591
    $0.00
    $0.00
    $445,090
    -
    $0.00
    $0.00
    $445,090

    Comparable in this City

    • Value Estimation
      $745,000
      1,536 SF

      7385 87th Ave2-a

      OFFICE BUILDING (MULTI-STORY) • 1,536 SF
      7385 87th Ave2-a, Miami, FL 33173-5477
      View Details
    • Value Estimation
      $1,440,000
      3,500 SF

      7600 87th Ave Ste, Unit 202

      PROFESSIONAL BUILDING • 3,500 SF
      7600 87th Ave Ste, Miami, FL 33173-3635
      View Details
    • Value Estimation
      $1,580,000
      3,840 SF

      7600 87th Ave Ste, Unit 203

      PROFESSIONAL BUILDING • 3,840 SF
      7600 87th Ave Ste, Miami, FL 33173-3635
      View Details
    • Value Estimation
      $1,290,000
      2,630 SF

      7765 87th Ave Ste 201a

      OFFICE BUILDING (MULTI-STORY) • 2,630 SF
      7765 87th Ave Ste 201a, Miami, FL 33173-2586
      View Details
    • Value Estimation
      $775,000
      1,580 SF

      7755 87th Ave Ste 110b

      OFFICE BUILDING (MULTI-STORY) • 1,580 SF
      7755 87th Ave Ste 110b, Miami, FL 33173-2534
      View Details
    • Value Estimation
      $2,345,000
      4,560 SF

      9193 72nd St Ste, Unit 210

      PROFESSIONAL BUILDING • 4,560 SF
      9193 72nd St Ste, Miami, FL 33173-3487
      View Details

    Similar Nearby for Sale

    • $1,600,000
      2,570 SF

      Office Condo Near Baptist Hospital

      Versatile office condo with income potential near Baptist Hospital.
      7374 SW 93Rd Ave, Miami, FL 33173
      View Details
    • Contact for pricing
      1,530 SF

      7765 SW 87th Ave, Miami, FL 33173

      Office Units • 1,530 SF
      7765 SW 87Th Ave, Miami, FL 33173
      View Details
    • $200,000

      Miami Restaurant & Bar for Sale

      Turnkey Peruvian Restaurant, Great Location
      0 Peruvian Restaurant @Sunset, Miami, FL 33173
      View Details

    Similar Nearby for Lease

    • $42 SF/Yr

      New Medical/Professional Office Space

      New construction medical/professional office space for lease in Kendall.
      7373 SW 93Rd Ave, Miami, FL 33173
      View Details
    • Contact for pricing

      Two-Story Office Buildings For Rent

      Two-story office buildings with immediate occupancy, utilities included.
      10300 SW 72Nd St, Miami, FL 33173
      View Details
    • $0.01 SF/Yr
      40,568 SF

      Miami Office Building for Lease

      Prime Medical Office Space in Miami, FL
      9945 72Nd St, Miami, FL 33173
      View Details
    • Contact for pricing
      1,655 SF

      High-Quality Office Space Available

      Customized office space with landscaped patio, easy highway access.
      9350-9360 SW 72Nd St, Miami, FL 33173
      View Details
    • Contact for pricing
      1,142 SF

      High-Quality Customizable Office Space

      Customizable office space with on-site management and ample parking.
      9415-9585 SW 72Nd St, Miami, FL 33173
      View Details
    • $0.01 SF/Yr
      40,568 SF

      Sunset Square Medical Office Building

      Miami medical office, 40,568 sq ft, 95 parking spaces
      9945 72Nd St, Miami, FL 33173
      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.
    7000 97th Ave Ste, Unit 121
    Miami, FL 33173-1474
    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!