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

    7512 3Rd Ct Miami, FL 33138

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5747439
    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 7512 3Rd Ct

    Property type
    Commercial real estate

    Description

    This exceptional 10,000 square foot land parcel presents a prime development opportunity in Miami's rapidly evolving Little River neighborhood. Located at 7512-7520 NE 3rd Ct, Miami, FL 33138, this property is zoned T5-R, allowing for the construction of up to 14 multifamily units or short-term rentals. The two contiguous lots, each 5,000 square feet, offer significant potential for investors seeking to capitalize on the area's burgeoning growth. Little River's strategic location provides easy access to desirable areas such as Wynwood, the Design District, MiMo, and Miami's developing urban core. The neighborhood is experiencing a surge in popularity, attracting new restaurants, entertainment venues, and residents seeking proximity to these vibrant districts. This presents a unique chance to build within a thriving community poised for continued expansion and increased property values. The property's proximity to the Magic City Innovative further enhances its appeal and potential for future appreciation. This is an exceptional opportunity to acquire a well-positioned development site in one of Miami's most dynamic neighborhoods. The asking price for this exceptional property is $875,000.

    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
    -80.1904924
    Latitude
    25.8441431

    Comparable in this City

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    • $327,135
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      Prime Miami lot, buildable, T5 zoning.
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      Waterfront Oasis in Little River

      Five-unit building on a large lot in Little River District.
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    • $5,250,000
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      Biscayne Blvd Multifamily Land

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    • $1,595,000
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      Miami Multifamily Investment Opportunity

      Five-Unit Building, Prime Miami Location
      6210 5Th Ave, Miami, FL 33138
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    • $1,997,000

      Renovated Multifamily Property in Miami

      Boutique multifamily property with modern finishes in vibrant Shorecrest neighborhood.
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    Similar Nearby for Sale

    • $327,135
      4,750 SF

      Miami Residential Land - 4,750 SF

      Prime Miami lot, buildable, T5 zoning.
      6345 1St Ave, Miami, FL 33138
      View Details
    • $1,875,000
      Pending

      Waterfront Oasis in Little River

      Five-unit building on a large lot in Little River District.
      8440 NE 1St Ave, Miami, FL 33138
      View Details
    • $1,875,000
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      Waterfront Oasis in Little River

      Five-unit building on a large lot in a Qualified Opportunity Zone.
      8440 NE 1St Ave, Miami, FL 33138
      View Details
    • $5,250,000
      1.50 Acres

      Biscayne Blvd Multifamily Land

      1.5-Acre Miami Shores Development Site
      10500 Biscayne Blvd, Miami Shores, FL 33138
      View Details
    • $2,400,000

      Miami Multifamily Investment Opportunity

      Six-unit apartment building, prime location.
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    • $3,150,000

      Waterfront Apartment Building in Miami

      Eight-unit waterfront apartment building in Miami Shores with modern amenities.
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    Similar Nearby for Lease

    • $2,500 /Mo

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      Updated 2-bedroom unit with den in central Miami location.
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      Miami Multifamily Property for Rent

      Multifamily property available for rent in Miami, Florida.
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    • $1,800 /Mo

      Renovated Shorecrest Apartment with Amenities

      Updated 1BR/1BA apartment with in-unit laundry and modern appliances.
      1070 NE 80Th St, Miami, FL 33138
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      Modern 2 bed, 2 bath apartment in prime Miami location.
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      Cozy Gated Multifamily Apartment

      Move-in ready one-bedroom apartment with on-site laundry and parking.
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      Multifamily Units Available For Rent

      Multifamily units available for rent, Section 8 vouchers accepted.
      50 NE 84Th St, Miami, FL 33138
      View Details
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    7512 3Rd Ct
    Miami, FL 33138
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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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