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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    702 26Th St Miami, FL 33137

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2249970
    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

    • Commercial real estate

    Property Details for 702 26Th St

    Property type
    Commercial real estate

    Description

    This exceptional 10,000 sq ft development land parcel, situated at 702-708 NE 26th Street in Miami's vibrant Edgewater neighborhood (zip code 33137, Miami-Dade County, Florida), presents a unique investment opportunity. Zoned T6-36A-L, the property boasts approved entitlements for a substantial development project encompassing 68 lodging units and 57 parking spaces, totaling 136,540 square feet of floor area. Architectural plans, prepared by a local firm, are available for review, showcasing the site's impressive potential. The asking price for this prime Miami real estate is $5,500,000. This is a turnkey opportunity for developers seeking to capitalize on the thriving Edgewater market. The property's location offers easy access to major transportation arteries, local amenities, and the dynamic urban landscape of Miami. Detailed plans are available upon request, providing a comprehensive understanding of the approved development parameters and design concepts. This is a rare chance to acquire a fully entitled development site in a highly sought-after area of Miami, poised for significant growth and return on investment. Broker co-op is available.

    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
    -80.186024
    Latitude
    25.801523

    Comparable in this City

    • $10,630,000

      Edgewater Development Land

      Miami development site, 0.81 acres
      100 21St St, Miami, FL 33137
      View Details
    • $3,500,000
      5,220 SF

      Edgewater Redevelopment Opportunity

      7-Unit Multifamily, High Potential
      437 30Th St, Miami, FL 33137
      View Details
    • Contact for pricing

      Edgewater Development Site

      Prime Miami location, huge potential.
      49 22Nd St, Miami, FL 33137
      View Details
    • $1,975,000

      Morningside Redevelopment Opportunity

      10,250 SF Miami Lot, 21-Unit Potential
      631 60Th St, Miami, FL 33137
      View Details
    • $5,270,000

      Edgewater Multifamily Redevelopment Opportunity

      Prime Edgewater location with redevelopment potential near Biscayne Bay.
      401 NE 22Nd St, Miami, FL 33137
      View Details

    Similar Nearby for Sale

    • $10,630,000

      Edgewater Development Land

      Miami development site, 0.81 acres
      100 21St St, Miami, FL 33137
      View Details
    • $3,500,000
      5,220 SF

      Edgewater Redevelopment Opportunity

      7-Unit Multifamily, High Potential
      437 30Th St, Miami, FL 33137
      View Details
    • Contact for pricing

      Edgewater Development Site

      Prime Miami location, huge potential.
      49 22Nd St, Miami, FL 33137
      View Details
    • $1,975,000

      Morningside Redevelopment Opportunity

      10,250 SF Miami Lot, 21-Unit Potential
      631 60Th St, Miami, FL 33137
      View Details
    • $5,270,000

      Edgewater Multifamily Redevelopment Opportunity

      Prime Edgewater location with redevelopment potential near Biscayne Bay.
      401 NE 22Nd St, Miami, FL 33137
      View Details

    Similar Nearby for Lease

    • $1,450 /Mo

      Inviting Unit in Little Haiti

      Comfortable, modern unit in vibrant Little Haiti neighborhood.
      259 NE 56 2, Miami, FL 33137
      View Details
    • $2,750 /Mo

      Edgewater Two Bedroom Apartment

      Spacious apartment near Wynwood, Midtown, and Design District.
      425 NE 30Th St, Miami, FL 33137
      View Details
    • $2,100 /Mo

      Miami Multifamily Property for Rent

      Multifamily property available for rent in Miami, Florida.
      225 NE 56Th St, Miami, FL 33137
      View Details
    • $2,000 /Mo

      Furnished Studio Near Midtown

      Remodeled studio apartment near Midtown and Design District.
      245 NE 33Rd St, Miami, FL 33137
      View Details
    • $2,150 /Mo

      Gated Multifamily Unit For Rent

      Second-story, 2-bedroom, 1-bath unit with in-unit laundry and parking.
      174 NE 55Th St, Miami, FL 33137
      View Details
    • $3,400 /Mo

      Updated Duplex Near Wynwood

      Move-in ready, updated 4/2 duplex near Wynwood and Miami Shores.
      5753 NW 6Th Ave, Miami, FL 33137
      View Details
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    702 26Th St
    Miami, FL 33137
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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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