deepblog

Assessing Rental Demand in Miami: A Close Look at High Potential Tracts

In our analysis, we juxtapose the current rental units in the top ten tracts with the highest unit development potential across the City of Miami, factoring in both the demand for rental units and the median rent in these tracts. Rental Units and Development Potential in Miami's Top Ten Tracts...

Pioneering Building Development: Harnessing AI for Optimal Locational Decisions

Deepblocks is an AI company dedicated to tackling the challenging question - "Where should I build?" Traditionally, answering this question would require an intimate understanding of local markets or a vast collection of complex datasets that combine information about development capacity, existing property inventory, and population demand. The Scalability Advantage...

<strong>Assessing Pricing Scenarios for 231 E Flagler ST: A Developer's Perspective</strong>

We analyzed the 231 E Flagler ST listing by running it through multiple pricing scenarios, taking into account construction costs and potential rents based on the developer's vision. Rents for 1,200 SF units in the area range from $2,800/mo to $11,000/mo, heavily influenced by the target market and the building's...

Evaluating the Uniqueness of a Property: The Case of 231 E Flagler ST

Utilizing the Market Scanner to Compare Property Characteristics To determine the uniqueness of a property like 231 E Flagler ST, we use the market scanner to compare properties with similar characteristics within a one-mile radius: Lot size: 14,000 SFUnits Allowed: 321 unitsBuildable Area: 330,000 SFExisting Building Area: 12,000 SF Uncovering...

Discovering a Rare Development Opportunity in Downtown Miami

Unearthing a Prime Listing in Downtown Miami We found a unique development opportunity at 231 E Flagler St in Downtown Miami, listed on Crexi and represented by Mariano Saal from TIR Prime Realty. The listing is unpriced, so we used Deepblocks to determine a potential price. Navigating Miami Zoning Overlays:...

Evaluating the Feasibility of 423 NE 27th ST: Crunching the Numbers for a Profitable Investment

Feasibility Study to determine the profitability of investing in 423 NE 27th ST, we first maximized the residential units allowed, required parking, and minimum setbacks—on the ground and above the eighth floors. We also repositioned the tower for an amenities area over the plinth. With the following conservative assumptions, our...

Comparable Properties: Assessing Value in the Edgewater Real Estate Market

Following our 423 NE 27th ST analysis, we delve into comparable properties within the Edgewater area. By examining the overlapping characteristics of these properties, we can assess whether any offer is a better deal than the $25 million asking price of the subject property. Identifying Comparable Properties We identified 13...

Tracing an Edgewater Property's Journey: A Glimpse into the Sales History and Future Potential

Listing Research This week, we look closer at an Edgewater property with a notable sales history. Located at 423 NE 27th ST, this property was assembled in 2022 by Groupe City, a French developer, for $14.8 million, which included preliminary plans by renowned architecture firm Arquitectonica. A Surprising Turn of...

Balancing Expectations: Navigating Feasibility Studies with AI Assistance in Real Estate Investments

Feasibility studies often reveal harsh realities. In this post, we'll explore a feasibility study for listing 3400 NE 2 AVE, Miami, FL. Initially, we estimate 162 units, resulting in a 31-story building. When factoring in the 243 required parking spots, the building height increases to 43 stories. The zoning regulations...

The Power of AI in Feasibility Studies: Uncovering Real Potential for Real Estate Investments

Feasibility studies are crucial in real estate investment, particularly for Value-Add and Opportunistic funds. The AI assistant provides preliminary zoning data on units allowed, parking requirements, maximum building height, and FAR, helping uncover a property's true potential. The AI-Assisted Feasibility Study in Action The AI assistant analyzes property 133 NE...

Navigating the Final Stages of Site Selection: Analyzing Properties with AI Assistance

After narrowing down the list of potential investment properties, the AI now assists the analyst in comparing the remaining properties based on price, shape, existing building area, development potential, and sea level rise risk. Comparing Price and Cash-Flow Potential Priced at $355/SF and $551/SF of land, the latter features an...

Delving Deeper: AI-Assisted Analysis of Property Development Potential in Edgewater, Miami

The AI-Assisted Analysis compared three property listings in Edgewater to make informed investment decisions based on their lot sizes and the applicable zoning rules. Lot sizes are a critical aspect, as most municipalities impose minimum requirements for development purposes. One of the properties they examined was a 2,125 SF lot,...