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Property profile & analytics
FOR SALE
Outlet malls
750 NW 119Th St Miami, FL 33168
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-3782744
For Sale
1 / 2
$7,560,000
750 NW 119Th St, Miami, FL 33168
View Listing →
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1999
Construction
CONCRETE
Total area
17,873 SF
Lot
1.9 ac (82,802 SF)
Zoning code
6051
APN
30-2135-014-0070
UPID
US18-3782744
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
Current use
Occupant on record · Public records
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
FedEx OnSite Postal Service Courier Service
-
COVID-19 Drive-Thru Testing at Walgreens Pharmacy
-
TD Bank ATM Atm
-
Walgreens Pharmacy Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.43M
CAP Approach
CAP
$8.97M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.43M
Owner & transaction history
Velan Partners LP · 2 yrs held
Velan Partners LP
since 2024
Last sale
$7.4M
5 recorded transactions
Zoning & alternative use
6051 · Miami, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$12.2M
+19.2%
Auto repair, garage
$11.7M
+14.3%
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 submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Miami 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
$7,430,000
ML approach
$7,430,000
CAP Approach
CAP Return
Estimation
6%
$9,720,000
6.5%
$8,970,000
7%
$8,330,000
Alternative Use
Use
Estimation
RETAIL STORES
$10,225,000
Current use
OFFICE BUILDING
$12,190,000
Change: +19% · Conversion: Easy
AUTO REPAIR, GARAGE
$11,685,000
Change: +14% · Conversion: Difficult
Blend value · Realmo final
$7.43M
Range $6.69M – $8.17M · ±10% · vs last sale $7.43M (Jun 6 2024)
Last sale anchor
$7.43M
Jun 6 2024
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
$416 / 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
$75,858
Tax year 2023
Assessed value
$4,739,800
Assessed 2023
Previous assessed
$4,739,800
+0.0% YoY
Effective rate
1.60%
On assessed value
Assessed land
$2,898,070
Assessed improvement
$1,841,730
Land market value
$2,898,070
Improvement market value
$1,841,730
Total market value
$4,739,800
Applied tax rate
3,000.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
For Sale
Year built
1999
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
17,873 SF
Lot
1.9 ac (82,802 SF)
Zoning code
6051
APN
30-2135-014-0070
UPID
US18-3782744
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6051 · Miami, FL
Zoning 6051 · permitted uses
6051 · Miami, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Miami. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$10.2M
OFFICE BUILDING
Est. value
$12.2M
AUTO REPAIR, GARAGE
Est. value
$11.7M
RETAIL STORES Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1999
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
1.9 ac
Current owner
From public records · entity-resolved
Velan Partners LP
Entity
Free & Clear · 2 yrs held
Mailing address
545 S FIGUEROA ST #614, LOS ANGELES, CA 90071-1704
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 6, 2024
$7,430,400
Velan Partners LP
Cp Thunder Fs LLC
Special Warranty Deed
—
Sep 14, 2022
—
Walgreen Co
Cp Thunder Fs LLC
Lease
—
Sep 14, 2022
$7,909,100
Cp Thunder Fs LLC
Walgreen Co
Special Warranty Deed
$500,000 · Wells Fargo Bank NA
Nov 4, 1999
$3,511,000
Walgreen Co
Barclay Group No 2 Ltd
Grant Deed
—
Sep 9, 1998
$175,000
Barclay Group #2 Ltd
Magazu,mary F
Trustees Deed
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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