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    Property profile & analytics

    960 87th Ave Miami, FL 33174-3254

    • Outlet malls
    • 1,180 SF
    • 0.46 lot acres
    OFF-MARKET
    Last Sale
    Mar 17, 2020
    $1,275,000
    Value Estimations
    $1,670,000
    Show details
    Cap Rate Potential
    2.3%
    Outlet malls
    Location Intelligence
    Property ID
    US18-6314150
    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

    • Espadas De Brazil Churrasqueria / Restaurant
    • Farm Stores / Restaurant / Bakery

    Property Details for 960 87th Ave

    Year built
    1964
    Construction
    CONCRETE
    Lot size
    0.46 lot acres
    Property size
    1,180 SF
    Zone code
    6200:COMMERCIAL,ARTERIAL
    Property type
    Outlet malls
    APN
    30-4009-004-0480
    APU
    3040090040480

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,680,000
      ML approach
      $1,655,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,379,000
      Market price range: $333k - $1.38M

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.3364
    Latitude
    25.7602
    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
    $22,587
    $1,585,920
    $100
    $1,586,020
    -
    $1,585,920
    $100
    $1,586,020

    Comparable in this City

    • Value Estimation
      $470,000
      5,752 SF

      626 109th Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 5,752 SF
      626 109th Ave, Miami, FL 33174-1338
      View Details
    • Value Estimation
      $590,000
      7,611 SF

      11006 Flagler St

      WHOLESALE OUTLET, DISCOUNT STORE • 7,611 SF
      11006 Flagler St, Miami, FL 33174-1222
      View Details
    • Value Estimation
      $910,000
      13,999 SF

      8720 Flagler St

      WHOLESALE OUTLET, DISCOUNT STORE • 13,999 SF
      8720 Flagler St, Miami, FL 33174-2404
      View Details
    • Value Estimation
      $1,130,000
      45,979 SF

      10300 Flagler St

      WHOLESALE OUTLET, DISCOUNT STORE • 45,979 SF
      10300 Flagler St, Miami, FL 33174-1746
      View Details
    • Value Estimation
      $655,000
      11,820 SF

      10700 Flagler St

      WHOLESALE OUTLET, DISCOUNT STORE • 11,820 SF
      10700 Flagler St, Miami, FL 33174-1422
      View Details
    • Value Estimation
      $435,000
      4,922 SF

      11040 Flagler St

      WHOLESALE OUTLET, DISCOUNT STORE • 4,922 SF
      11040 Flagler St, Miami, FL 33174-1222
      View Details

    Similar Nearby for Sale

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      Sweetwater Storefront - $109,800

      Prime Sweetwater Retail Space, High Traffic Area
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      Flagler Square Office/Retail Space

      Second floor office/retail space in Flagler Square Shopping Center.
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    • $45,000

      Established Flooring Business Opportunity

      Flooring business for sale with equipment, trailer, and marketing assets.
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      Prime Sweetwater Retail Center

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    Similar Nearby for Lease

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      1,426 SF

      Miami Retail Space For Rent

      Neighborhood shopping center with high visibility on Flagler Street.
      9501 W Flagler St, Miami, FL 33174
      View Details
    • Contact for pricing
      112,423 SF

      Park Hill Plaza: Miami Retail Center

      Prime Miami retail center, high visibility.
      9545 Flagler St, Miami, FL 33174
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    • $2 SF/Yr
      14,000 SF

      Sweetwater Office/Retail Gem

      14,000 SF, Remodeled, Prime Location
      300 107Th Ave, Miami, FL 33174
      View Details
    • $51 SF/Yr
      604 SF

      Sweetwater Retail Space - 604 SF

      Prime Sweetwater retail space, single tenant, great location.
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    • Contact for pricing
      112,423 SF

      Park Hill Plaza Retail Space

      Miami retail space, high visibility.
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    • $3,300 /Mo

      Centrally Located Multifamily Rental Property

      Spacious rental near Turnpike, FIU, shopping, and restaurants.
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      View Details
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    960 87th Ave
    Miami, FL 33174-3254
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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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