Mixed-Use Building with Retail
New
For Sale
$3,500,000
610 NE 124th St, North Miami, FL 33161
Flexible commercial layout pairs retail space with substantial storage and utility areas.
Property Size6,480 SF
Price / SF$540.12
Days on Market5
Property Features for 610 NE 124th St
General Information
Standard status
Active
Size
6,480 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$17,039
Building Details
Building Size
6,480 SF
Year Built
1953
Buildings
1
Listing Agency:
(954) 815-8213
Listed By:
Diana Fahmie · License #3176864
(954) 815-8213
Source:
Elliman
Added: Aug 1
Changed: Aug 2
Last Checked: Aug 5 at 8:15AM
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 Diana Fahmie
Investment Insights
Based on property information with market context.
This mixed-use commercial building contains 6,480± SF, including approximately 4,500 SF of retail area and 1,755 SF dedicated to storage and utility functions. The configuration combines customer-facing space with supporting back-of-house areas and was built in 1953.
The property is located at 610 NE 124th St in North Miami, near NE 125th Street and within an established commercial corridor. Access extends to Biscayne Boulevard and I-95, with Miami Shores, Aventura, Bal Harbour, and Downtown Miami identified in the surrounding regional context. WalkScore is 75, BikeScore is 56, and TransitScore is 44.
The property is located at 610 NE 124th St in North Miami, near NE 125th Street and within an established commercial corridor. Access extends to Biscayne Boulevard and I-95, with Miami Shores, Aventura, Bal Harbour, and Downtown Miami identified in the surrounding regional context. WalkScore is 75, BikeScore is 56, and TransitScore is 44.
Key Highlights
- 6,480± SF mixed‑use commercial building
- Approximately 4,500 SF of retail space
- 1,755 SF of storage and utility area
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 | $295.5k | $45.60 |
| − Vacancy | −$66.5k | −$10.26 |
| EGI | $229.0k | $35.34 |
| − OpEx | −$57.3k | −$8.84 |
| NOI | $171.8k | $26.51 |
6,480 SF · lease $45.60/SF/yr · vacancy 22.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.45M
$2.15M – $2.86M
NOI $171,752 @ 7.0% cap · market cap 4.91%
Second Best
Mixed Use
$1.60M
$1.40M – $1.86M
NOI $111,780 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$3.29M
$2.88M – $3.84M
NOI $230,130 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,834
Businesses Nearby
Explore this area
Business Placement
Demographics for 33161, FL
53,015
Population
18,912
Households
2.8
Avg Household Size
37
Median Age
21%
College-Educated
81%
High-School Grad
5.5 sq mi
ZIP Area
9,639
Density / Sq Mi
$55,265
Median Household Income
$34,311
Median Earnings
$1,494
Median Rent
$376,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible commercial layout pairs retail space with substantial storage and utility areas.
Where is this mixed-use property located?
The property is located at 610 NE 124th St North Miami, FL.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 6,480± SF mixed‑use commercial building; Approximately 4,500 SF of retail space; 1,755 SF of storage and utility area
