Miami Shores Salon Suites
681 Northwest 108th Street Miami, FL 33168
For Sale
$4,850,000
Two-story office building with redevelopment potential in Miami Shores.
Property Size9,265 SF
Price / SF$523.48
Days on Market309
Property Features for 681 Northwest 108th Street
General Information
Standard status
Active
Size
9,265 SF
Property subtype
Business Opportunities
Listing Agency:
RE/MAX
(305) 450-5992
Listed By:
Agustin Duarte · License #3284824
(305) 450-5992
Source:
Remaxcommercial
Added: Sep 25, 2025
Changed: Jul 6
Last Checked: Jul 29 at 3:27AM
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 For Retail
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 | $481.4k | $51.96 |
| − Vacancy | −$49.6k | −$5.35 |
| EGI | $431.8k | $46.61 |
| − OpEx | −$129.5k | −$13.98 |
| NOI | $302.3k | $32.63 |
9,265 SF · lease $51.96/SF/yr · vacancy 10.30% · expense 30.00%
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
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)**.
