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

    740 71st St Miami, FL 33150-3841

    • Commercial land
    • 0.33 lot acres
    OFF-MARKET
    Last Sale
    Jul 23, 2024
    $3,500,000
    Value Estimations
    $3,500,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5245262
    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

    • Blacksmith Tattoo Company / Tattoo Shop
    • Master Tattoo Institute / Training Centre

    Property Details for 740 71st St

    Lot size
    0.33 lot acres
    Zone code
    7000:INDUSTRIAL,GENERAL
    Property type
    Commercial land
    APN
    01-3114-019-0280
    APU
    131140190280

    Description

    This exceptional opportunity presents a rare chance to lease up to 72,726 square feet (1.66 acres) of industrial land situated in Miami's vibrant Little River neighborhood. The property, located at 740 NW 71st St, Miami, FL 33150, is zoned for a variety of industrial uses, making it highly versatile and adaptable to diverse business needs. Currently offered as a single-tenant lease, this expansive lot is perfectly suited for industrial outdoor storage (IOS), offering ample space for equipment, materials, or vehicles. However, its flexibility extends beyond IOS

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,500,000
      ML approach
      $3,500,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2097
    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
    $11,758
    $572,000
    $0.00
    $572,000
    -
    $572,000
    $0.00
    $572,000

    Comparable in this City

    • Value Estimation by Request
      0.06 Acres

      Miami, FL 33150

      VACANT COMMERCIAL LAND • 0.06 Acres
      Miami, FL 33150
      View Details
    • Value Estimation by Request
      0.14 Acres

      7036 5th Ave

      VACANT COMMERCIAL LAND • 0.14 Acres
      7036 5th Ave, Miami, FL 33150
      View Details
    • Value Estimation by Request
      0.16 Acres

      7600 6th Ct

      VACANT COMMERCIAL LAND • 0.16 Acres
      7600 6th Ct, Miami, FL 33150-3206
      View Details
    • Value Estimation by Request
      0.13 Acres

      517 72nd Ln

      VACANT COMMERCIAL LAND • 0.13 Acres
      517 72nd Ln, Miami, FL 33150-3405
      View Details
    • Value Estimation by Request
      0.08 Acres

      Miami, FL 33150

      VACANT COMMERCIAL LAND • 0.08 Acres
      Miami, FL 33150
      View Details
    • Value Estimation by Request
      0.15 Acres

      330 79th St

      VACANT COMMERCIAL LAND • 0.15 Acres
      330 79th St, Miami, FL 33150-2941
      View Details

    Similar Nearby for Sale

    • $649,000
      0.11 Acres

      Miami Development Opportunity: Two Folios

      Two adjacent lots totaling 10,000 sqft, ideal for development.
      759 NW 73Rd St, Miami, FL 33150
      View Details
    • $649,000
      0.23 Acres

      Miami Development Opportunity: Zoned BU-2

      Two adjacent lots totaling 10,000 sqft, zoned BU-2 in Miami.
      759 NW 73Rd St, Miami, FL 33150
      View Details
    • Contact for pricing

      Miami Land Lot For Sale

      7,200 SF land lot suitable for various uses.
      7136 NW 5Th Ct, Miami, FL 33150
      View Details
    • $1,300,000

      Commercial Parcels on NW 79th

      Two contiguous commercial parcels ideal for mixed-use development.
      490 NW 79Th St, Miami, FL 33150
      View Details
    • $2,600,000

      Development Site in Opportunity Zone

      14,560 SF infill development site zoned T6-8-O.
      540 NW 79Th St, Miami, FL 33150
      View Details
    • $2,500,000

      Prime Land for Residential Development

      Three contiguous lots ideal for residential or retail development.
      710 NW 81St St, Miami, FL 33150
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      2,156 SF

      197 NW 79th St

      Flex space
      197 79Th St, Miami, FL 33150
      View Details
    • $0.05 SF/Yr
      7,850 SF

      Miami Office Space: 7771 NW 7th Ave

      Modern Miami Office, 7,850 SF
      7771 7Th Ave, Miami, FL 33150
      View Details
    • $2,850 /Mo

      Miami Duplex for Rent

      Duplex with 3 bedrooms, 2 bathrooms, and modern amenities.
      7777 NW 8Th Ct, Miami, FL 33150
      View Details
    • $1,805 /Mo

      Cozy Apartment in Little River

      Charming 1-bedroom apartment in a connected Miami neighborhood.
      7638 N Miami Ave, Miami, FL 33150
      View Details
    • $1,500 /Mo

      Updated Two-Bedroom Miami Home

      Recently updated 2-bedroom home with modern features and ample light.
      6326 NW 4Th Ave, Miami, FL 33150
      View Details
    • $2,350 /Mo

      Miami Duplex Unit For Rent

      Spacious 2-bedroom, 1-bath duplex unit available for rent.
      785 NW 96Th St, Miami, FL 33150
      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.
    740 71st St
    Miami, FL 33150-3841
    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.