Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    1815 123Rd St North Miami, FL 33181

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1815 123Rd St North Miami, FL 33181

    View on Map
    • Office properties & Spaces
    • 13,184 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 1815 123Rd St

    Property size
    13,184 SF
    Property type
    Office properties & Spaces
    Property subtype
    Office Units

    Description

    This Class A office building, located at 1815 NE 123rd Street in North Miami Beach, Florida (33181), offers 13,184 square feet of versatile workspace. Currently, 5,970 square feet are available for lease. The building features 350 suites, with options ranging from 10 square feet minimum to a maximum contiguous space of 1,300 square feet. Suitable for various business needs, including executive offices, coworking, and creative office spaces, this property provides flexible tenancy arrangements for multiple occupants. Renovated in 2019, the building includes elevators and offers fully furnished and equipped private offices, customizable to suit individual company sizes and requirements. Services range from traditional office spaces to tailored solutions, including disaster recovery options and day offices. A comprehensive benefits program, featuring exclusive discounts and procurement support, is also available. The building is situated in Miami-Dade County and provides a professional, inspiring, and collaborative work environment. This exceptional location offers businesses the opportunity to thrive in a dynamic and convenient setting.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    North Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.1621
    Latitude
    25.8899

    Comparable in this City

    • Value Estimation by Request

      1680 125Th St

      Office properties & Spaces
      1680 125Th St, North Miami, FL 33181
      View Details
    • Value Estimation by Request

      2124 123Rd St

      Office properties & Spaces
      2124 123Rd St, North Miami, FL 33181
      View Details
    • Value Estimation by Request
      7,653 SF

      1880 163Rd Street Rd

      Individual retail properties • 7,653 SF
      1880 163Rd Street Rd, North Miami, FL 33181
      View Details
    • Value Estimation by Request

      1820 Alamanda Dr

      Office properties & Spaces
      1820 Alamanda Dr, North Miami, FL 33181
      View Details
    • Value Estimation by Request
      10,000 SF

      1922 149Th St

      Flex space • 10,000 SF
      1922 149Th St, North Miami, FL 33181
      View Details
    • Value Estimation by Request
      5 SF

      12550 Biscayne Blvd Ste, Unit 105

      PROFESSIONAL BUILDING • 5 SF
      12550 Biscayne Blvd Ste, North Miami, FL 33181-2536
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Executive Offices with Panoramic Views

      High-end plug and work office spaces for sale.
      13499 Biscayne Boulevard Way, North Miami, FL 33181
      View Details
    • $325,000

      Office - North Miami, FL

      Furnished office suites with amenities near Aventura Mall.
      13499 Biscayne Blvd, North Miami, FL 33181
      View Details
    • $515,000
      1,032 SF

      Remodeled Turn-Key North Miami Office

      Ready-to-use office space with city skyline views.
      12550 Biscayne Blvd, North Miami, FL 33181
      View Details
    • $700,000

      Renovated Office Condo in North Miami

      Fully renovated office condo in a prime North Miami location.
      12550 Biscayne Boulevard Way, North Miami, FL 33181
      View Details
    • $2,650,500
      2,650 SF

      North Miami Office Condo For Sale

      Biscayne Blvd Office Condo - Owner/User
      12550 Biscayne Blvd, North Miami, FL 33181
      View Details
    • Contact for pricing

      North Miami Infill Industrial Property

      Infill industrial property with 22' ceilings in North Miami.
      13251 NE 17Th Ave, North Miami, FL 33181
      View Details

    Similar Nearby for Lease

    • $0.18 SF/Yr
      103,000 SF

      Biscayne Blvd Office Space Available

      Prime Office Suites, Flexible Terms
      12550 Biscayne Blvd, North Miami, FL 33181
      View Details
    • Sponsored
      Contact for pricing

      Causeway Square

      Discover many ways to work your way in Causeway Square
      1801 123Rd St, North Miami, FL 33181
      View Details
    • $18 SF/Yr
      2,156 SF

      Biscayne Blvd Office Suites

      North Miami Executive/Creative Office Space
      13499 Biscayne Blvd, North Miami, FL 33181
      View Details
    • $5,500 /Mo

      Remodeled Turn-Key North Miami Office

      Brand new, remodeled open space office in North Miami.
      12550 Biscayne Blvd, North Miami, FL 33181
      View Details
    • $400 /Mo

      North Miami Office Space Available

      Multi-unit office space with 24-hour security, off Biscayne Blvd.
      13499 Biscayne Blvd, North Miami, FL 33181
      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.
    1815 123Rd St
    North Miami, FL 33181
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!