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Property profile & analytics
FOR SALE
Assisted living facilities
Collins Ave, Miami Beach, FL 33139
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US18-0470206
For Sale
1 / 2
$170,000
Collins Ave, Miami Beach, FL 33139
View Listing →
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1970
Construction
CONCRETE
Total area
80,778 SF
Lot
0.75 ac (32,500 SF)
Zoning code
6502:COMMERCIAL
APN
02-4203-003-1260
UPID
US18-0470206
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.50M
Blend (final)
Blend
$14.33M
Owner & transaction history
42 Collins Aventue LLC · 8 yrs held
42 Collins Aventue LLC
since 2018
3 recorded transactions
Zoning & alternative use
6502:COMMERCIAL · 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$19,465,000
Current use
Blend value · Realmo final
$14.33M
Range $12.90M – $15.76M · ±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
$177 / 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
$501,140
Tax year 2023
Assessed value
$26,520,000
Assessed 2023
Previous assessed
$26,355,000
+0.6% YoY
Effective rate
1.89%
On assessed value
Assessed land
$16,250,000
Assessed improvement
$10,270,000
Land market value
$16,250,000
Improvement market value
$10,270,000
Total market value
$26,520,000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
For Sale
Year built
1970
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
4
Units
230
Bathrooms
94
Total area
80,778 SF
Lot
0.75 ac (32,500 SF)
Zoning code
6502:COMMERCIAL
APN
02-4203-003-1260
UPID
US18-0470206
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
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$19.5M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
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
1970
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
4
Units
230
Bathrooms
94
Lot
0.75 ac
Current owner
From public records · entity-resolved
42 Collins Aventue LLC
Entity
Mailing address
2071 FLATBUSH AVE #22, BROOKLYN, NY 11234-4340
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 20, 2023
—
42 Collins Avenue LLC
—
Deed
related
$38,702,400 · Vnb New York LLC
May 7, 2018
$30,750,000
42 Collins Aventue LLC
Southiointe Heiguts LLC
Special Warranty Deed
$30,102,400 · Vnb New York LLC
Nov 14, 2005
$14,500,000
Southpointe Heights LLC
Ohi Asset Fl LLC
Warranty Deed
$26,766,500 · Regions Bank
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?”
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