Versatile Building with Multiple
For Sale
$2,000,000
1051 NW 119th St, North Miami, FL 33168
Adaptable building suitable for office, religious, or event use.
Property Size5,680 SF
Price / SF$352.11
Days on Market314
Property Features for 1051 NW 119th St
General Information
Standard status
Active
Size
5,680 SF
Building Details
Year Built
1956
Listing Agency:
LEO Realty, Inc.
Listed By:
Leopold Evariste · License #0576403
(786) 306-0390
Source:
Chenoregroup
Added: Nov 28, 2025
Changed: Sep 24
Last Checked: Oct 7 at 2:20PM
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.
Investment Insights
Based on property information with market context.
This building features four distinct offices, offering versatility for various uses. It is suitable for a medical office, church, or banquet hall. The property's adaptability allows for a range of potential business operations.
Key Highlights
- Versatile building suitable for various uses like medical office, church, or banquet hall.
- Building contains 4 different offices.
- Beautiful building.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$150,548
Cap Rate
7.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,010,960
$3.0M
Cap Rate 7%
$2,150,686
$2.2M
Cap Rate 9%
$1,672,756
$1.7M
Market Conditions
NOI Build-Up for 5,680 SF
Gross rent
$259.0K $45.60/SF
− Vacancy
−$58.3K −$10.26/SF
EGI
$200.7K $35.34/SF
− OpEx
−$50.2K −$8.84/SF
NOI
$150.5K $26.51/SF
Area
Miami-Dade County, FL
Vacancy
22.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,010,960
Cap Rate 7%
$2,150,686
Cap Rate 9%
$1,672,756
Alternative Uses
Best Use
Office B
$2.15M
$1.88M – $2.51M
NOI $150,548 @ 7.0% cap · market cap 7.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.88M
$2.52M – $3.36M
NOI $201,719 @ 7.0% cap · market cap 10.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
774
Businesses Nearby
Explore this area
Business Placement
Demographics for 33168, FL
24,715
Population
6,761
Households
3.7
Avg Household Size
39
Median Age
16%
College-Educated
79%
High-School Grad
3.6 sq mi
ZIP Area
6,865
Density / Sq Mi
$58,636
Median Household Income
$31,984
Median Earnings
$1,576
Median Rent
$329,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Adaptable building suitable for office, religious, or event use.
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: Versatile building suitable for various uses like medical office, church, or banquet hall.; Building contains 4 different offices.; Beautiful building.
