150 168Th St North Miami Beach, FL 33169
- Office Properties & Spaces
- 25,900 SF
- 0.86 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 150 168Th St
- Year built
- 1973
- Lot size
- 0.86 lot acres
- Property size
- 25,900 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
This three-story, 25,902 square foot Class B office building in North Miami Beach, Florida offers a compelling value-add investment opportunity. Located directly across from Jackson North Medical Center, this multi-tenant property (8 units) boasts a 7.19% pro-forma cap rate and a $7,175,000 asking price ($277.03/sq ft). Built in 1973 and extensively renovated in 2023 (over $3,000,000 in improvements), the building features two elevators, covered parking (85 spaces per 1,000 sq ft), and annual rent escalations. The 0.86-acre lot is zoned North Miami Beach B-2, General Business District, providing flexibility for various uses. Currently at 40.4% occupancy, the property presents significant upside potential. Its prime location near the Golden Glades Interchange, I-95, and the Palmetto Expressway ensures excellent accessibility. The building recently completed its 40-year recertification, confirming its high standards of quality and safety. This fee-simple ownership opportunity provides a strong return on investment with potential for significant future growth. The gross lease structure simplifies management.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- North Miami Beach
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.2033
- Latitude
- 25.9289
