Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1017 124Th St Miami, FL 33184
    Back to Search
    Property profile & analytics

    1017 124Th St Miami, FL 33184

    View on Map
    • Apartment buildings
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1017 124Th St

    Year built
    1980
    Property type
    Apartment buildings
    Property subtype
    Small apartment buildings

    Description

    This exceptional Miami duplex, built in 1980, presents a lucrative investment opportunity. Located at 1017 SW 124 Ct, Miami, FL 33184, this single-story property offers a combined total of four bedrooms and three bathrooms. The main unit boasts a beautifully remodeled, spacious two-bedroom, two-bathroom layout, complete with a convenient in-unit laundry room. This unit's generous size and modern updates make it highly desirable for tenants. Adding to its income potential, a second, self-contained two-bedroom, one-bathroom apartment generates additional rental income. The property's prime location offers easy access to Florida International University and Miami International Airport, with South Beach just a 20-minute drive away. This makes it attractive to both students and professionals. The asking price for this multifamily property is $650,000, representing a strong return on investment given its location, condition, and rental income potential. This is a rare opportunity to acquire a well-maintained, income-generating duplex in a thriving Miami neighborhood. The property is situated in Miami-Dade County and is conveniently located near major transportation routes and amenities. This turnkey investment is ready for immediate occupancy and income generation.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.3979
    Latitude
    25.7582

    Comparable in this City

    • Value Estimation
      $2,985,000
      12,288 SF

      839 132nd Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 12,288 SF
      839 132nd Ave, Miami, FL 33184-1900
      View Details
    • Value Estimation by Request
      3.91 Acres

      Miami, FL 33184

      INDUSTRIAL - VACANT LAND • 3.91 Acres
      Miami, FL 33184
      View Details
    • Value Estimation by Request

      12220 8Th St

      Retail properties & Spaces
      12220 8Th St, Miami, FL 33184
      View Details
    • Value Estimation
      $1,505,000
      120,626 SF

      13740 8th St

      MINI-MALL • 120,626 SF
      13740 8th St, Miami, FL 33184-3000
      View Details
    • Value Estimation
      $2,075,000
      1.25 Acres

      Miami, FL 33184

      VACANT COMMERCIAL LAND • 1.25 Acres
      Miami, FL 33184
      View Details
    • Value Estimation by Request
      800 SF

      937 122nd Ave

      RETAIL STORES (PERSONAL SERVICES) • 800 SF
      937 122nd Ave, Miami, FL 33184-2406
      View Details

    Similar Nearby for Sale

    • $288,000
      800 SF

      Miami Office/Apartment Building

      800 SF, $288K, Prime Location
      957 122Nd Ave, Miami, FL 33184
      View Details
    • $250,000

      Established Pet Grooming Business Opportunity

      Turnkey pet grooming business with loyal clientele in Miami.
      4xxx SW 137, Miami, FL 33184
      View Details
    • $140,000

      Established Furniture Store Business Opportunity

      Furniture store with strong sales and 11-year reputation for sale.
      Furniture Store For Sale In The Tamiami Area, Miami, FL 33184
      View Details
    • Contact for pricing

      Miami Specialty Property For Sale

      Specialty property available for purchase in Miami, Florida.
      13698 SW 8Th St, Miami, FL 33184
      View Details
    • $550,000
      0.29 Acres

      Residential Lot Ready to Build

      Oversized residential lot ready to build in Miami, Florida.
      550 SW 136Th Pl, Miami, FL 33184
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      61,523 SF

      New Construction Industrial Space Available

      New construction industrial space for lease in multi-purpose Class A park.
      1325 NW 129Th Ave, Miami, FL 33184
      View Details
    • Contact for pricing
      1,540 SF

      Retail Space in High-Traffic Area

      Retail space available in a busy Miami shopping center.
      14270 SW 8Th St, Miami, FL 33184
      View Details
    • Contact for pricing
      900 SF

      Retail Space in High-Traffic Area

      Retail space in a busy shopping center anchored by Publix.
      13740 SW 8Th St, Miami, FL 33184
      View Details
    • Contact for pricing

      Retail Space in West Miami

      Shopping center anchored by Publix on SW 8th Street.
      13850 SW 8Th St, Miami, FL 33184
      View Details
    • Contact for pricing
      1,340 SF

      Retail Space in Community Center

      Retail space available within a multi-tenant community center.
      14080 SW 8Th St, Miami, FL 33184
      View Details
    • Contact for pricing
      17,499 SF

      Retail Space on SW 8th

      High-traffic retail space on SW 8th Street available for lease.
      12000-12020 SW 8Th St, Miami, FL 33184
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1017 124Th St
    Miami, FL 33184
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1017 124Th St, Miami, FL, 33184
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!