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 SF
Units Allowed: 321 units
Buildable Area: 330,000 SF
Existing Building Area: 12,000 SF
Uncovering Comparable Properties in the Area
Out of 5,000 properties within a one-mile radius, 11 are comparable to this listing. Here’s the breakdown:
5,024 properties
632 have a lot size between 10,000 and 20,000 SF
68 can also build more than 300,000 SF
23 can also yield between 300 and 350 units
11 also have less than 12,000 SF of an existing structure
It would be interesting to explore how many of the 11 comparable property owners would be open to selling.
