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    920 119th St Miami, FL 33168-2339

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    Property profile & analytics

    920 119th St Miami, FL 33168-2339

    View on Map
    • Office buildings
    • 3,720 SF
    • 0.20 lot acres
    Off-Market
    Last Sale Sep 22, 2023
    $2,000,000
    Property ID
    US18-1575028
    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.
    Value Estimations
    $2,060,000
    Show details
    Cap Rate Potential
    4.5%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Best Market Co LLC / Cosmetic Store

    Property Details for 920 119th St

    Year built
    1956
    Construction
    CONCRETE
    Lot size
    0.20 lot acres
    Property size
    3,720 SF
    Zone code
    6062
    Property type
    Office buildings
    APN
    30-2135-013-0070
    APU
    3021350130070

    Description

    This exceptional 3,720-square-foot industrial property, located at 920 NW 119th St, Miami, FL 33168, presents a unique investment opportunity. Classified as both Industrial and Special Purpose, this single-tenant building offers significant flexibility. The property's zoning designation is 6062, allowing for a wide range of uses. The building consists of one suite, making it ideal for a single occupant seeking a substantial space. Its adaptable nature makes it suitable for various businesses, including but not limited to churches, medical offices, private schools, car dealerships, markets, and convenience stores. The property's prime location in Miami offers excellent accessibility and visibility, making it an attractive proposition for businesses seeking a strategic foothold in a thriving market. The property's APN is 30-21-35-013-0070. This versatile space provides ample room for expansion and customization, catering to a diverse range of operational needs. Serious inquiries are encouraged to explore the potential of this exceptional property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,555,000
      ML approach
      $2,335,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,895,000
      6.5%
      $1,750,000
      7%
      $1,625,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,218,000
      Market price range: $1.23M - $4.91M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,535,000
      Current use
      COMMERCIAL (GENERAL)
      $2,750,000
      Change: +8% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,430,000
      Change: -4% Conversion: Difficult
      RETAIL STORES
      $2,130,000
      Change: -16% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2139
    Latitude
    25.8833
    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
    $9,376
    $297,500
    $247,989
    $545,489
    -
    $297,500
    $247,989
    $545,489

    Comparable in this City

    • Value Estimation
      $3,455,000
      11,290 SF

      650 120th St

      OFFICE BUILDING (MULTI-STORY) • 11,290 SF
      650 120th St, North Miami, FL 33168-2529
      View Details
    • Value Estimation
      $4,790,000
      10,601 SF

      655 107th St

      OFFICE BUILDING (MULTI-STORY) • 10,601 SF
      655 107th St, Miami, FL 33168-3256
      View Details
    • Value Estimation
      $870,000
      2,286 SF

      11501 2nd Ave

      OFFICE BUILDING • 2,286 SF
      11501 2nd Ave, Miami, FL 33168-4401
      View Details
    • Value Estimation
      $1,360,000
      5,000 SF

      10812 6th Ct

      OFFICE BUILDING • 5,000 SF
      10812 6th Ct, Miami, FL 33168-3259
      View Details
    • Value Estimation
      $625,000
      2,024 SF

      816 119th St

      OFFICE BUILDING • 2,024 SF
      816 119th St, Miami, FL 33168-2337
      View Details
    • Value Estimation
      $3,450,000
      19,005 SF

      11575 7th Ave

      OFFICE BUILDING • 19,005 SF
      11575 7th Ave, Miami, FL 33168-2505
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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    Similar Nearby for Lease

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      2,548 SF

      Renovated Commercial Space Near I-95

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      View Details
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    Miami, FL 33168-2339
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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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