Zoned C-2BW Office
For Sale
$2,075,000
1747 NE 124th St, North Miami, FL 33181
Office building with 18 on-site parking spaces and C-2BW zoning allowing retail, office, restaurant, medical, and multifamily uses.
Property Size3,406 SF
Lot Size0.31 Acres
Price / SF$609.22
Days on Market170
Property Features for 1747 NE 124th St
General Information
Standard status
Active
Size
3,406 SF
Total Parking Spaces
18
Lot size
0.31 Acres
Property subtype
Mixed Use
Zoning
C-2BW
Building Details
Building Size
3,406 SF
Year Built
1956
Listing Agency:
Gridline Properties
Listed By:
Alfredo Riascos · License #3210686
(786) 325-5647
Source:
Marcelosteinmander
Added: May 5
Changed: Oct 19
Last Checked: Oct 19 at 3:37PM
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 Gridline Properties
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Investment Insights
Based on property information with market context.
1747 NE 124th Street is a 3,406 SF office building situated on an oversized 13,680 SF lot. The property includes 18 on-site parking spaces, supporting immediate functionality for an owner-user. Zoned C-2BW, the site allows a broad range of uses, including retail, office, restaurant, medical, and multifamily.
The location is one parcel off US-1/Biscayne Boulevard in North Miami, providing access and visibility along a major commercial corridor.
For development-minded buyers, the zoning permits up to 200 feet in height and approximately 150 units per acre, while the existing improvements can support interim use and help preserve redevelopment optionality.
The location is one parcel off US-1/Biscayne Boulevard in North Miami, providing access and visibility along a major commercial corridor.
For development-minded buyers, the zoning permits up to 200 feet in height and approximately 150 units per acre, while the existing improvements can support interim use and help preserve redevelopment optionality.
Key Highlights
- 3,406 SF office building built in 1956 on a 13,680 SF lot
- C‑2BW zoning allows retail, office, restaurant, medical, and multifamily uses
- 18 on‑site parking spaces included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$90,276
Cap Rate
4.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,805,520
$1.8M
Cap Rate 7%
$1,289,657
$1.3M
Cap Rate 9%
$1,003,067
$1.0M
Market Conditions
NOI Build-Up for 3,406 SF
Gross rent
$155.3K $45.60/SF
− Vacancy
−$34.9K −$10.26/SF
EGI
$120.4K $35.34/SF
− OpEx
−$30.1K −$8.84/SF
NOI
$90.3K $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%
$1,805,520
Cap Rate 7%
$1,289,657
Cap Rate 9%
$1,003,067
Alternative Uses
Best Use
Office B
$1.29M
$1.13M – $1.50M
NOI $90,276 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $120,961 @ 7.0% cap · market cap 5.83%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,391
Businesses Nearby
Explore this area
Business Placement
Demographics for 33181, FL
20,955
Population
9,401
Households
2.2
Avg Household Size
39
Median Age
41%
College-Educated
91%
High-School Grad
3.0 sq mi
ZIP Area
6,985
Density / Sq Mi
$56,473
Median Household Income
$40,233
Median Earnings
$1,665
Median Rent
$315,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Office building with 18 on-site parking spaces and C-2BW zoning allowing retail, office, restaurant, medical, and multifamily uses.
Where is this office building located?
The property is located at 1747 NE 124th St North Miami, FL.
What is the asking price?
The asking price for this property is $2,075,000.
What are key features of this property?
This property features: 3,406 SF office building built in 1956 on a 13,680 SF lot; C‑2BW zoning allows retail, office, restaurant, medical, and multifamily uses; 18 on‑site parking spaces included
