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Property profile & analytics
OFF-MARKET
Estimated value
$10,970,000
Turn key restaurants
850 Commerce St Miami Beach, FL 33139-6711
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-5991546
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1920
Total area
7,835 SF
Lot
0.21 ac (9,000 SF)
Zoning code
6502:COMMERCIAL
APN
02-4203-009-2100
UPID
US18-5991546
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.71M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.97M
Blend (final)
Blend
$10.97M
Owner & transaction history
Limestone Plant LLC · 4 yrs held
Limestone Plant LLC
since 2022
Last sale
$12.0M
6 recorded transactions
Zoning & alternative use
6502:COMMERCIAL · Miami Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$18.2M
+214.0%
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 Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Miami Beach 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
$11,160,000
ML approach
$9,710,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$18,245,000
Change: +214% · Conversion: Easy
Blend value · Realmo final
$10.97M
Range $9.87M – $12.07M · ±10% · vs last sale $12.00M (May 18 2022)
Last sale anchor
$12.00M
May 18 2022
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
$1,400 / 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
$183,544
Tax year 2023
Assessed value
$9,713,000
Assessed 2023
Previous assessed
$5,332,057
+82.2% YoY
Effective rate
1.89%
On assessed value
Assessed land
$4,500,000
Assessed improvement
$5,213,000
Land market value
$4,500,000
Improvement market value
$5,213,000
Total market value
$9,713,000
Applied tax rate
200.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1920
Heating
NONE
Cooling
CENTRAL
Stories
2
Bathrooms
8
Total area
7,835 SF
Lot
0.21 ac (9,000 SF)
Zoning code
6502:COMMERCIAL
APN
02-4203-009-2100
UPID
US18-5991546
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6502:COMMERCIAL · Miami Beach, FL
Zoning 6502:COMMERCIAL · permitted uses
6502:COMMERCIAL · Miami Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Miami Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$18.2M
RETAIL STORES
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
1920
Heating
NONE
Cooling
Yes
Stories
2
Bathrooms
8
Lot
0.21 ac
Current owner
From public records · entity-resolved
Limestone Plant LLC
Entity
Mailing address
200 S BISCAYNE BLVD STE #7, MIAMI, FL 33131-2310
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 18, 2022
$12,000,000
Limestone Plant LLC
Commerce Street Properties LLC
Special Warranty Deed
$7,200,000 · First National Bank Of South Miami
Mar 12, 2018
—
Commerce Street Properties LLC
—
Deed
related
$4,000,000 · City Nat'l Bk/fl
Aug 21, 2007
—
Ocean One At South Pointe LLC
Ramos,gervasio A & Iraida
Quit Claim Deed
related
—
—
—
850 Commerce Restaurant LLC
—
Deed Of Trust
related
$140,000 · Terminello Louis J (te)
—
—
Commerce Street Offices LLC
—
Deed Of Trust
related
$1,500,000 · City National Bank Of Florida
—
—
Commerce Street Properties LLC
—
Loan Modification
related
$4,000,000 · City Nat'l Bk/fl
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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