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

    1747 124th St North Miami, FL 33181-2719

    • Office buildings
    • 3,406 SF
    • 0.31 lot acres
    OFF-MARKET
    Last Sale
    Mar 29, 2022
    $1,300,000
    Value Estimations
    $1,590,000
    Show details
    Cap Rate Potential
    7.5%
    Office buildings
    Location Intelligence
    Property ID
    US18-3129774
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Bonham Law Firm / Attorney
    • Golden Randy C / Attorney / Kindergarten

    Property Details for 1747 124th St

    Year built
    1956
    Construction
    CONCRETE
    Lot size
    0.31 lot acres
    Property size
    3,406 SF
    Zone code
    6201:COMMERCIAL
    Property type
    Office buildings
    APN
    06-2229-007-0430
    APU
    622290070430

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,385,000
      ML approach
      $1,320,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,735,000
      6.5%
      $1,605,000
      7%
      $1,490,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,156,000
      Market price range: $458k - $3.86M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $2,225,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    North Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1641
    Latitude
    25.891
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $26,334
    $1,162,800
    $226,692
    $1,389,492
    -
    $1,162,800
    $226,692
    $1,389,492

    Comparable in this City

    • Value Estimation by Request
      1,011 SF

      12550 Biscayne Blvd Ste, Unit 501

      PROFESSIONAL BUILDING • 1,011 SF
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      View Details
    • Value Estimation by Request
      1,016 SF

      12550 Biscayne Blvd Ste, Unit 502

      PROFESSIONAL BUILDING • 1,016 SF
      12550 Biscayne Blvd Ste, North Miami, FL 33181-2544
      View Details
    • Value Estimation by Request
      990 SF

      12550 Biscayne Blvd Ste, Unit 503

      PROFESSIONAL BUILDING • 990 SF
      12550 Biscayne Blvd Ste, North Miami, FL 33181-2544
      View Details
    • Value Estimation by Request
      1,840 SF

      12550 Biscayne Blvd Ste, Unit 504

      PROFESSIONAL BUILDING • 1,840 SF
      12550 Biscayne Blvd Ste, North Miami, FL 33181-2544
      View Details
    • Value Estimation
      $750,000
      13,920 SF

      1680 135th St

      PROFESSIONAL BUILDING • 13,920 SF
      1680 135th St, North Miami, FL 33181-1725
      View Details
    • Value Estimation by Request
      783 SF

      12955 Biscayne Blvd, Unit 501

      OFFICE BUILDING (MULTI-STORY) • 783 SF
      12955 Biscayne Blvd, North Miami, FL 33181-2037
      View Details

    Similar Nearby for Sale

    • $803,000

      North Miami Office on Biscayne

      2,450 SF office space on Biscayne Boulevard for sale.
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    • New
      $2,200,000
      9,370 SF

      North Miami Office Building For Sale

      Six-unit office property on Biscayne Boulevard, versatile for multiple uses.
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      2,650 SF

      North Miami Office Condo For Sale

      Biscayne Blvd Office Condo - Owner/User
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    • $700,000

      Renovated Office Condo in North Miami

      Fully renovated office condo with city views in North Miami.
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      Office Space on Biscayne Blvd

      Office space with views, security, and convenient location.
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    • New
      $750,000
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      North Miami Corner Office Condo

      Remodeled corner office condo in North Miami. Great for owner-user.
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    Similar Nearby for Lease

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      Causeway Square Office Suites

      Prime North Miami Beach Office Space
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    • $5,500 /Mo

      Remodeled Turn-Key North Miami Office

      Brand new, remodeled open space office in North Miami.
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    • $8,000 /Mo

      North Miami Retail Sublease Opportunity

      Medical office sublease in a Publix-anchored shopping center.
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    • $800 /Mo

      Furnished Office Space in North Miami

      Furnished office space in North Miami's prime business corridor.
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    • $0.12 SF/Yr
      115,218 SF

      Biscayne Blvd Office Condo For Sale

      Prime North Miami Office Space, 115,218 sq ft
      12550 Biscayne Blvd, North Miami, FL 33181
      View Details
    • $13 SF/Yr
      868 SF

      Biscayne Blvd Office Suite #218

      868 sq ft Office, Prime Location, First Month Free
      12550 Biscayne Blvd, North Miami, FL 33181
      View Details
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    North Miami, FL 33181-2719
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    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
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