12365 SW 224 ST, Palmetto Bay, FL 33170

12365 SW 224 ST, Palmetto Bay, FL 33170 is a 2-bedroom, 1-bathroom store : retail outlet built in 1950 with 2,761 square feet of living space on a 13,000 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 property has appreciated $978,500 (4551%) since the prior sale of $21,500 on 1973-05-01. The 2025 assessed value is $298,584 with a market value of $490,279.

This breaks down to $390,000 for the land and $100,279 for the building. The assessed value increased 10% from $271,440 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.

12365 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 complete ownership history of this property spans from 1973 to 2001, with 2 recorded transactions in the public record.

The current assessed value represents 30% of the most recent sale price. This low ratio may suggest the property is under-assessed relative to market value, common after recent improvements or a competitive purchase. Based on the most recent sale, this property traded at $362 per square foot — a key metric for comparing value across Palmetto Bay's real estate market..