Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Versatile Building in North Miami Title is generated by Realmo AI

    1051 Nw 119th St, North Miami, FL 33181

    View on Map
    Claim this Listing
    For Sale
    $2,000,000

    Adaptable building suitable for office, medical, or event uses.

    Added:
    Nov 20, 2025
    Days on Market:
    191
    Last Refresh:
    May 25 at 10:09 pm

    Property Features for 1051 Nw 119th St

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Leopold Evariste

    Listing agent Leopold Evariste License #0576403

    Listing office LEO Realty, Inc.

    Listing date Nov 20, 2025

    Source Exprealty

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of LEO Realty, Inc.

    HighLights

    • Building suitable for multiple uses such as medical office, church, or banquet hall.
    • Contains 4 different offices.
    • Versatile building with many potential uses.
    • Beautiful building.
    • Must see to appreciate.

    Overview

    This building in North Miami offers versatility for various uses, including medical offices, churches, and banquet halls. The property features four distinct office spaces, providing flexibility for different layouts and operational needs. Its design and features make it suitable for use as a medical office, church, or wedding venue. The building's adaptable nature allows for a range of potential business applications.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    North Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.157988
    Latitude
    25.885486

    Nearby Similar for Sale

    • $2,850,000
      6,020 SF

      Flex/Industrial Asset on I-95

      High-visibility flex/industrial building with leasing upside in North Miami.
      625 NW 121st St, North Miami, FL 33168
      View Details
    • $2,100,000
      7,742 SF

      North Miami Retail Investment Opportunity

      Fully leased retail center with value-add potential in North Miami.
      12985 W Dixie Hwy, North Miami, FL 33161
      View Details
    • $7,850,000
      11,000 SF

      North Miami Industrial Warehouse For Sale

      11,000 SF warehouse with direct I-95 exposure in North Miami.
      660 NW 137th St, North Miami, FL 33168
      View Details
    • $1,990,000
      5,357 SF

      North Miami Retail/Office Opportunity

      Spacious building in North Miami, ideal for office or redevelopment.
      13242 NW 7th Ave, North Miami, FL 33168
      View Details
    • $515,000
      1,032 SF

      Remodeled Turn-Key North Miami Office

      Ready-to-use office space with city skyline views.
      12550 Biscayne Blvd, North Miami, FL 33181
      View Details
    • $1,900,000

      Gas Station C-Store Opportunity

      Gas station and C-store on busy corner lot.
      1601 NW 119 St, North Miami, FL 33167
      View Details
    • $150,000

      Established Lighting Store Business Opportunity

      Profitable lighting and electrical store with loyal customer base.
      2178 NE 123rd St, North Miami, FL 33181
      View Details
    • $5,200,000

      Waterfront Multifamily Property in North Miami

      Renovated 8-unit multifamily property with waterfront views and redevelopment potential.
      11900 N Bayshore Dr, North Miami, FL 33181
      View Details
    • $110,000

      North Miami Restaurant Opportunity

      Restaurant with licenses in place near North Bayshore Park.
      Restaurant For Sale In North Miami Beach Area, North Miami, FL 33181
      View Details
    • $325,000

      Office - North Miami, FL

      Furnished office suites with amenities, located near Aventura Mall.
      13499 Biscayne Blvd, North Miami, FL 33181
      View Details
    • $1,650,000
      3,646 SF

      North Miami Mixed-Use Property

      Commercial property with restaurant, kitchen, and apartment units for sale.
      Commercial Property For Sale In North Miami, North Miami, FL 33161
      View Details
    • $700,000

      Renovated Office Condo in North Miami

      Fully renovated office condo in a prime North Miami location.
      12550 Biscayne Boulevard, North Miami, FL 33181
      View Details

    FAQs

    What type of property is this?
    Office building - Adaptable building suitable for office, medical, or event uses.
    Where is this office building located?
    The property is located at 1051 Nw 119th St North Miami, FL.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: Building suitable for multiple uses such as medical office, church, or banquet hall.; Contains 4 different offices.; Versatile building with many potential uses.
    (786) 306-0390
    We can help!
    Listing Contact
    Leopold Evariste
    Real Estate License ID: 0576403
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1051 Nw 119th St, North Miami, FL
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!