Zoned C-2BW Office
1747 NE 124th Street North Miami, FL 33181
1747 NE 124th Street, North Miami, FL, 33181
$2,075,000
For Sale
$2,075,000
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 Market15
Property Features for 1747 NE 124th Street
General Information
- Standard status
- Active
- Size
- 3,406 SF
- Lot size
- 0.31 Acres
Building Details
- Year Built
- 1956
Listing agency
Gridline Properties
(786) 325-5647
Listed by
Alfredo Riascos · License #A12052845
(786) 325-5647
Source
Laerrealty
Added: Jul 7 Updated: Jul 21 at 1:40AM Checked: Jul 21 at 3:22AM
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
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
Local 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 | $155.3k | $45.60 |
| − Vacancy | −$34.9k | −$10.26 |
| EGI | $120.4k | $35.34 |
| − OpEx | −$30.1k | −$8.84 |
| NOI | $90.3k | $26.51 |
3,406 SF · lease $45.60/SF/yr · vacancy 22.50% · expense 25.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
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FAQs
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 Street 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
