Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    702 1st St Miami, FL 33130-1206

    • Retail residential properties
    • 286,166 SF
    • 1.45 lot acres
    OFF-MARKET
    Last Sale
    Jul 01, 2022
    $92,000,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0361678
    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

    • Oneway Law Group / Law Firm / Escrow Service

    Property Details for 702 1st St

    Year built
    2021
    Construction
    CONCRETE
    Lot size
    1.45 lot acres
    Property size
    286,166 SF
    Zone code
    6110:COMM/RES-DESIGN DIST
    Property type
    Retail residential properties
    APN
    01-0201-050-1010
    APU
    102010501010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2067
    Latitude
    25.7724
    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
    $1,621,900
    $7,900,080
    $70,999,920
    $78,900,000
    -
    $7,900,080
    $70,999,920
    $78,900,000

    Comparable in this City

    • Value Estimation
      $325,000
      2,308 SF

      104 5th Ave

      STORES & APARTMENTS • 2,308 SF
      104 5th Ave, Miami, FL 33130-1321
      View Details
    • Value Estimation
      $315,000
      4,180 SF

      815 Flagler St

      STORES & APARTMENTS • 4,180 SF
      815 Flagler St, Miami, FL 33130-1221
      View Details
    • Value Estimation
      $285,000
      800 SF

      983 6th St

      STORES & APARTMENTS • 800 SF
      983 6th St, Miami, FL 33130
      View Details
    • Value Estimation
      $260,000
      1,676 SF

      831 8th St

      STORES & APARTMENTS • 1,676 SF
      831 8th St, Miami, FL 33130-3703
      View Details
    • Value Estimation
      $580,000
      64,017 SF

      961 7th St

      STORES & APARTMENTS • 64,017 SF
      961 7th St, Miami, FL 33130-4249
      View Details
    • Value Estimation
      $315,000
      6,080 SF

      102 Flagler St

      STORES & APARTMENTS • 6,080 SF
      102 Flagler St, Miami, FL 33130-1505
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Prime Mixed-Use Development Land

      1.74 acre mixed-use development site in Brickell, Miami.
      301 SW 8Th St, Miami, FL 33130
      View Details
    • $18,000,000
      79,487 SF

      Havana River Assemblage: Miami Development Site

      1.82-acre mixed-use development opportunity
      606 Flagler St, Miami, FL 33130
      View Details
    • $1,999,000

      Prime Little Havana Retail Space

      Historic building, high-traffic location, great investment.
      817 8Th St, Miami, FL 33130
      View Details
    • $1,615,000

      Little Havana Multifamily Investment

      Fourplex, fully renovated, high demand.
      112 11Th Ave, Miami, FL 33130
      View Details
    • Contact for pricing
      3,160 SF

      Downtown Miami Retail Space

      Retail space in the heart of Downtown Miami's vibrant scene.
      11 NE 6Th St, Miami, FL 33130
      View Details
    • Contact for pricing
      11,661 SF

      Development Site in Little Havana

      Prime development site with flexible zoning in Miami's Little Havana.
      300 Nw 12Th Ave, Miami, FL 33130
      View Details

    Similar Nearby for Lease

    • $2,750 /Mo

      Modern Live-Work Space Available

      Modern 2 bed + den live/work space near Calle 8.
      403 SW 12Th Ave, Miami, FL 33130
      View Details
    • $77 SF/Yr
      1,543 SF

      Downtown Office Suite - Move-In Ready

      Modern, furnished office; 1,543 sq ft + 1,000 sq ft terrace.
      175 7Th St, Miami, FL 33130
      View Details
    • $0.41 SF/Yr
      230,000 SF

      Latitude One Office Condo, Miami

      Prime Brickell Office Space, 230,000 sq ft
      175 7Th St, Miami, FL 33130
      View Details
    • $0.61 SF/Yr
      16,724 SF

      West Brickell Industrial Flex Space

      Prime Miami Flex Space, 16,724 SF
      529 4Th St, Miami, FL 33130
      View Details
    • $0.12 SF/Yr
      9,002 SF

      Miami Riverfront Restaurant Space

      Prime Miami location, 9,002 sq ft.
      175 7Th St, Miami, FL 33130
      View Details
    • $2,300 /Mo

      Little Havana Apartment For Rent

      Centrally located 2 bed, 1.5 bath unit in Little Havana.
      1063 SW 22Nd St, Miami, FL 33130
      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.
    702 1st St
    Miami, FL 33130-1206
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.