12315 SW 224 ST, Palmetto Bay, FL 33170

12315 SW 224 ST, Palmetto Bay, FL 33170 is a store : retail outlet built in 1924 with 13,915 square feet of living space on a 40,110 square foot lot. The property is currently owned by FMV FAMILY LIMITED PARTNERSHIP, recorded as of 2026-03-29. The mailing address differs from the property address, suggesting this may be an investment property or rental.

The most recent sale was on 2001-12-01 for $1,000,000. The 2025 assessed value is $1,416,309 with a market value of $1,705,352. This breaks down to $1,002,750 for the land and $702,602 for the building.

The assessed value increased 10% from $1,287,554 in 2024. This property is located in FEMA Flood Zone X, which indicates minimal flood risk. Flood insurance is typically not required for properties in Zone X.

The median household income in this area is $80,306, and the median home value is $499,700. The population density is 1,254 people per square mile. This property currently has 1 open code violation on record with miami_dade code enforcement.

Open violations can affect property value and may need to be resolved before a sale can close. 12315 SW 224 ST, Palmetto Bay, FL 33170 is located in Palmetto Bay, Florida. Property records, tax assessments, sales history, and ownership information for this Palmetto Bay property are sourced from miami_dade County public records.

The current assessed value represents 142% of the most recent sale price. This high ratio could indicate the property was purchased below market value — a potential sign of a distressed sale or off-market deal. Based on the most recent sale, this property traded at $72 per square foot — a key metric for comparing value across Palmetto Bay's real estate market..