Renovated Office Condo
1680 MICHIGAN Unit 918 Miami Beach, FL 33139
For Sale
$825,000
Pending
Renovated office condo suite with reception, two glass offices, open work areas, and kitchenette plus two covered parking spaces.
Property Size1,137 SF
Days on Market3922
Property Features for 1680 MICHIGAN Unit 918
General Information
Standard status
Pending
Size
1,137 SF
Property subtype
General Commercial
Building Details
Year Built
1974
Listing Agency:
Streamline Properties, Inc.
(305) 535-2900
Listed By:
Saul Gross
(305) 535-2900
Source:
Xome
Added: Nov 2, 2015
Changed: Jul 28
Last Checked: Jul 28 at 10:15AM
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 Streamline Properties, Inc.
Investment Insights
Based on property information with market context.
This renovated office condo suite is located within a Class A building and features sophisticated finishes throughout. The layout includes a reception area, two glass offices, two open work spaces, a sleek kitchenette, and a private bathroom. Two assigned parking spaces are provided in a covered garage.
The building includes concierge service in the lobby. Additional guest parking is available in an adjacent municipal lot.
The unit is well-suited for an office tenant looking for a configured interior with private and collaborative work areas, along with dedicated parking in a covered facility.
The building includes concierge service in the lobby. Additional guest parking is available in an adjacent municipal lot.
The unit is well-suited for an office tenant looking for a configured interior with private and collaborative work areas, along with dedicated parking in a covered facility.
Key Highlights
- Renovated office condo suite in a Class A building (Year built: 1974)
- Layout includes a reception area, two glass offices, and two open work spaces
- Includes a sleek kitchenette and a private bathroom
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $51.8k | $45.60 |
| − Vacancy | −$11.7k | −$10.26 |
| EGI | $40.2k | $35.34 |
| − OpEx | −$10.0k | −$8.84 |
| NOI | $30.1k | $26.51 |
1,137 SF · lease $45.60/SF/yr · vacancy 22.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$430.5K
$376.7K – $502.3K
NOI $30,136 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$576.8K
$504.7K – $673.0K
NOI $40,379 @ 7.0% cap · market cap 4.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Renovated office condo suite with reception, two glass offices, open work areas, and kitchenette plus two covered parking spaces.
Where is this office units located?
The property is located at 1680 MICHIGAN Unit 918 Miami Beach, FL.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Renovated office condo suite in a Class A building (Year built: 1974); Layout includes a reception area, two glass offices, and two open work spaces; Includes a sleek kitchenette and a private bathroom
