7240 NE 4 Ave
Ownership and recorded sale history
What has actually traded in Upper Biscayne / NE 79th
Recorded transactions for retail properties in the upper Biscayne Boulevard and NE 79th Street corridor, narrowed to the buildings closest to this one in size and age.
Reading this against the corridor
The county assesses this building at $229/SF. Recorded sales of retail properties in Upper Biscayne / NE 79th since 2021 have a median of $428/SF, across a range of $196/SF to $706/SF.
Across those 8 recorded sales, the median sale price came in at 1.04× the county assessed value. Assessed values are set for taxation and are reset on their own schedule, so they routinely sit apart from transaction prices — in either direction.
At 24,727 SF this building is materially larger than the 8,040 SF median for retail properties trading in this corridor, which narrows the pool of directly comparable transactions.
By footprint it sits in roughly the 100th percentile of retail properties that have traded in this corridor — 0 of the 20 recorded sales were of larger buildings.
The assessment works out 46% below the median price per square foot of the comparable sales shown below. That is an arithmetic comparison of a tax figure against transaction prices, not a statement about what this building would sell for.
What this means for this building depends on what no public record contains — the leases, the condition, the rent roll.
Recorded sales of comparable size and vintage
| Property | Size | Built | Sold | Price | Per SF |
|---|---|---|---|---|---|
6621 Biscayne Blvd | 8,826 | 1936 | 2024 | $4,255,400 | $482 |
7501 NE 2 Ave | 12,568 | 1924 | 2023 | $5,125,400 | $408 |
7200 Biscayne Blvd | 6,701 | 1948 | 2023 | $4,730,000 | $706 |
8425 Biscayne Blvd | 7,255 | 1953 | 2023 | $2,700,000 | $372 |
7935 Biscayne Blvd | 5,566 | 1954 | 2023 | $2,350,000 | $422 |
208 NE 78 St | 15,910 | 1925 | 2022 | $8,050,000 | $506 |
1060 NE 79 St | 6,212 | 1968 | 2022 | $2,700,000 | $435 |
471 NE 79 St + 1 more parcel | 17,978 | 1930 | 2021 | $3,525,000 | $196 |
Important Disclosures
Not a listing. The property described on this page is not listed for sale or lease by Justin Crow or Mattis Advisors. Justin Crow has no listing authority for this property and does not represent the owner unless explicitly engaged in a written agreement.
Not an appraisal. Nothing on this page constitutes an appraisal, a Broker's Opinion of Value, or a Broker Price Opinion under Florida Statute 475.612. The submarket benchmarks shown are general market observations and are not specific opinions of value for this property.
Public records. All property data is sourced from the Miami-Dade County Property Appraiser's public records and is reproduced here for informational purposes. Property data may be inaccurate or out of date. Justin Crow makes no warranty as to the accuracy or completeness of any information on this page.
Owner opt-out. If you are the owner of this property and would prefer this page be removed, please email justin@mattisadvisors.com with the subject "Opt-out — Folio 0132070520040." We will remove the page within 24 hours of receipt, no questions asked.
About. Justin Crow is a Florida-licensed real estate associate operating under Mattis Advisors. Brokerage activity is conducted through Mattis Advisors.