Miami Shores Salon Suites
For Sale
$4,850,000
681 Northwest 108th Street, Miami, FL 33168
Two-story office building with redevelopment potential in Miami Shores.
Property Size9,265 SF
Price / SF$523.48
Days on Market385
Property Features for 681 Northwest 108th Street
General Information
Standard status
Active
Size
9,265 SF
Property subtype
Business Opportunities
Zoning
UC-MC
Building Details
Building Size
9,265 SF
Listing Agency:
RE/MAX
Listed By:
Agustin Duarte · License #A11825546
(305) 450-5992
Source:
Remaxcommercial
Added: Sep 25, 2025
Changed: Oct 1
Last Checked: Oct 12 at 4:36PM
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 RE/MAX
Investment Insights
Based on property information with market context.
This two-story office building in Miami Shores presents a business opportunity with real estate included. The property is located adjacent to I-95, which sees approximately 240,000 cars daily. Currently configured as "Miami Shores Salon Suites", the building is divided into thirty-three individual salons, with sizes ranging from 90 to just under 200 square feet. The second floor is fully stabilized, while the first floor is in the lease-up stage. Once fully stabilized, the property is projected to generate $500,000 in gross annual income. The property, with a size of 9265 square feet, also offers redevelopment potential, with the possibility to expand up to four stories.
Key Highlights
- High cash flow opportunity with real estate included.
- Projected $500,000 annual gross income once fully stabilized.
- Prime location adjacent to I‑95 with high visibility (approx. 240,000 cars daily).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$302,277
Cap Rate
6.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,045,540
$6.0M
Cap Rate 7%
$4,318,243
$4.3M
Cap Rate 9%
$3,358,633
$3.4M
Market Conditions
NOI Build-Up for 9,265 SF
Gross rent
$481.4K $51.96/SF
− Vacancy
−$49.6K −$5.35/SF
EGI
$431.8K $46.61/SF
− OpEx
−$129.5K −$13.98/SF
NOI
$302.3K $32.63/SF
Area
Miami, FL
Vacancy
10.30%
Lease Rate
$51.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,045,540
Cap Rate 7%
$4,318,243
Cap Rate 9%
$3,358,633
Alternative Uses
Best Use
Retail
$4.32M
$3.78M – $5.04M
NOI $302,277 @ 7.0% cap · market cap 6.23%
Second Best
Office B
$3.80M
$3.32M – $4.43M
NOI $265,790 @ 7.0% cap · market cap 5.48%
Theoretical Best
Specialty Retail
$6.25M
$5.47M – $7.30M
NOI $437,775 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
610
Businesses Nearby
Explore this area
Business Placement
Demographics for 33168, FL
24,715
Population
6,761
Households
3.7
Avg Household Size
39
Median Age
16%
College-Educated
79%
High-School Grad
3.6 sq mi
ZIP Area
6,865
Density / Sq Mi
$58,636
Median Household Income
$31,984
Median Earnings
$1,576
Median Rent
$329,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Two-story office building with redevelopment potential in Miami Shores.
Where is this retail space located?
The property is located at 681 Northwest 108th Street Miami, FL.
What is the asking price?
The asking price for this property is $4,850,000.
What are key features of this property?
This property features: High cash flow opportunity with real estate included.; Projected $500,000 annual gross income once fully stabilized.; Prime location adjacent to I‑95 with **high visibility (approx. 240,000 cars daily)**.
