Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$965,000
Hotels
944 Washington Ave Miami Beach, FL 33139-5016
Entity Owned
26-yr Hold
~
Est. High Equity
Property ID
US18-1620198
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1936
Construction
CONCRETE
Total area
15,106 SF
Lot
0.17 ac (7,550 SF)
Zoning code
6400:COMMERCIAL,CENTRAL
APN
02-4203-009-0140
UPID
US18-1620198
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
$680k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$965k
Owner & transaction history
Elevator Partners · 26 yrs held
Elevator Partners
since 1999
5 recorded transactions
Zoning & alternative use
6400:COMMERCIAL,CENTRAL · Miami Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
$680,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$965k
Range $869k – $1.06M · ±10%
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
$64 / 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
$101,475
Tax year 2023
Assessed value
$5,370,000
Assessed 2023
Previous assessed
$5,100,000
+5.3% YoY
Effective rate
1.89%
On assessed value
Assessed land
$3,020,000
Assessed improvement
$2,350,000
Land market value
$3,020,000
Improvement market value
$2,350,000
Total market value
$5,370,000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1936
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
3
Units
42
Bathrooms
42
Total area
15,106 SF
Lot
0.17 ac (7,550 SF)
Zoning code
6400:COMMERCIAL,CENTRAL
APN
02-4203-009-0140
UPID
US18-1620198
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6400:COMMERCIAL,CENTRAL · Miami Beach, FL
Zoning 6400:COMMERCIAL,CENTRAL · permitted uses
6400:COMMERCIAL,CENTRAL · 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.
Building & site characteristics
From public records
Year built
1936
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
3
Units
42
Bathrooms
42
Lot
0.17 ac
Current owner
From public records · entity-resolved
Elevator Partners
Entity
Mailing address
PO BOX 414198, MIAMI BEACH, FL 33141-0198
Ownership since
1999
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
Dec 9, 1999
$1,750,000
Elevator Partners
Vernon B Garraway Trustee
Grant Deed
$2,000,000 · Suntrust Bank Miami NA
—
—
Vernon B Garraway Trustee
—
Deed Of Trust
related
$101,000 · City First Mortgage Corp
—
—
Hotel Chelsea South Beach LLC
—
Deed Of Trust
related
$2,000,000 · Suntrust Bank NA
—
—
Hotel Chelsea South Beach LLC
—
Deed Of Trust
related
$2,000,000 · Suntrust Bank NA
—
—
Elevator Partners
—
Deed Of Trust
related
$250,000 · Suntrust Bank NA
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 944 Washington Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
