Church with Redevelopment
For Sale
$1,199,000
21 NE 168th Street, North Miami Beach, FL 33162
Existing house of worship at a corner location in the Residential Office District under RO zoning.
Property Size3,500 SF
Days on Market211
Property Features for 21 NE 168th Street
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Office
Zoning
RO
Site & Location
Neighborhood
Cakegrove
Highway Access
Yes
Building Details
Building Size
3,500 SF
Year Built
1977
Listing Agency:
EXP Realty, LLC.
Listed By:
Kevin Berman · License #694673
(954) 471-8120
Source:
Relinkre
Added: Mar 28
Changed: Oct 23
Last Checked: Oct 23 at 4:06PM
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 EXP Realty, LLC.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property is an existing house of worship located on a corner site at NE 168th Street and N. Miami Ave. It sits within the Residential Office District with RO zoning, offering the opportunity for continued religious use or adaptive reuse for other professional purposes as described in the listing.
The property is positioned minutes from major thoroughfares including Biscayne Blvd and I-95, and it is near the 163rd Street commercial district. The listing also notes proximity to Jackson North and Jackson Memorial Hospital, approximately two blocks to 1/3 mile away.
The property is positioned minutes from major thoroughfares including Biscayne Blvd and I-95, and it is near the 163rd Street commercial district. The listing also notes proximity to Jackson North and Jackson Memorial Hospital, approximately two blocks to 1/3 mile away.
Key Highlights
- Existing house of worship on a corner lot in the Residential Office District (RO zoning)
- Corner location at NE 168th St & N Miami Ave
- 20 parking spaces available on‑site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,768
Cap Rate
7.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,855,360
$1.9M
Cap Rate 7%
$1,325,257
$1.3M
Cap Rate 9%
$1,030,756
$1.0M
Market Conditions
NOI Build-Up for 3,500 SF
Gross rent
$159.6K $45.60/SF
− Vacancy
−$35.9K −$10.26/SF
EGI
$123.7K $35.34/SF
− OpEx
−$30.9K −$8.84/SF
NOI
$92.8K $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%
$1,855,360
Cap Rate 7%
$1,325,257
Cap Rate 9%
$1,030,756
Alternative Uses
Best Use
Office B
$1.33M
$1.16M – $1.55M
NOI $92,768 @ 7.0% cap · market cap 7.74%
Second Best
Healthcare Medical
$658.8K
$576.5K – $768.6K
NOI $46,116 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$1.78M
$1.55M – $2.07M
NOI $124,299 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,074
Businesses Nearby
Explore this area
Business Placement
Demographics for 33162, FL
45,277
Population
16,719
Households
2.7
Avg Household Size
39
Median Age
21%
College-Educated
81%
High-School Grad
5.3 sq mi
ZIP Area
8,543
Density / Sq Mi
$55,993
Median Household Income
$31,848
Median Earnings
$1,535
Median Rent
$345,000
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?
Church & religious facility - Existing house of worship at a corner location in the Residential Office District under RO zoning.
Where is this church & religious facility located?
The property is located at 21 NE 168th Street North Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Existing house of worship on a corner lot in the Residential Office District (RO zoning); Corner location at NE 168th St & N Miami Ave; 20 parking spaces available on‑site
