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

    550 124th St North Miami, FL 33161-5424

    • Office buildings
    • 2,474 SF
    • 0.23 lot acres
    OFF-MARKET
    Last Sale
    Apr 18, 2022
    $875,000
    Value Estimations
    $950,000
    Show details
    Cap Rate Potential
    9.5%
    Office buildings
    Location Intelligence
    Property ID
    US18-8941293
    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

    • Excelsior Public Adjusting Services, LLC / Loss Adjuster
    • Olanike Adebayo / Social Worker
    • Edgewater IT LLC / Computer Consultant
    • K.b. Sharp, P.a. / Attorney

    Property Details for 550 124th St

    Year built
    1945
    Construction
    CONCRETE
    Lot size
    0.23 lot acres
    Property size
    2,474 SF
    Zone code
    6000:COMMERCIAL,GENERAL
    Property type
    Office buildings
    APN
    06-2230-030-0160
    APU
    622300300160

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $795,000
      ML approach
      $865,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,260,000
      6.5%
      $1,165,000
      7%
      $1,080,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,077,000
      Market price range: $469k - $1.19M
      AI Estimate
      $502,000
      Market price range: $184k - $590k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $805,000
      Current use
      MEDICAL BUILDING
      $1,085,000
      Change: +35% Conversion: Easy
      WAREHOUSE, STORAGE
      $735,000
      Change: -9% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $705,000
      Change: -13% Conversion: Difficult
      RETAIL STORES
      $645,000
      Change: -20% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    North Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1873
    Latitude
    25.8891
    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
    $0.00
    $502,500
    $172,960
    $675,460
    -
    $502,500
    $172,960
    $675,460

    Comparable in this City

    • Value Estimation
      $505,000
      14,250 SF

      725 125th St

      OFFICE BUILDING (MULTI-STORY) • 14,250 SF
      725 125th St, North Miami, FL 33161-5611
      View Details
    • Value Estimation
      $550,000
      4,485 SF

      680 124th St

      OFFICE BUILDING • 4,485 SF
      680 124th St, North Miami, FL 33161-5548
      View Details
    • Value Estimation
      $470,000
      2,024 SF

      516 124th St

      OFFICE BUILDING • 2,024 SF
      516 124th St, North Miami, FL 33161-5424
      View Details
    • Value Estimation
      $475,000
      3,222 SF

      1045 125th St

      OFFICE BUILDING • 3,222 SF
      1045 125th St, North Miami, FL 33161-5804
      View Details
    • Value Estimation
      $2,740,000
      8,032 SF

      1073 125th St

      PROFESSIONAL BUILDING • 8,032 SF
      1073 125th St, North Miami, FL 33161-5859
      View Details
    • Value Estimation
      $380,000
      2,292 SF

      980 126th St

      OFFICE BUILDING • 2,292 SF
      980 126th St, North Miami, FL 33161-4908
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Newly Painted Office Building

      Office building with new elevator and upcoming retail construction nearby.
      650 NE 125Th St, Miami, FL 33161
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    • Contact for pricing

      Newly Painted Office Building

      Office building with new elevator and upcoming retail construction nearby.
      816 NE 125Th St, Miami, FL 33161
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    • Contact for pricing
      11,331 SF

      Renovated Lab and Office Building

      11,331 SF renovated lab and office building for sale.
      1001 NE 125Th Ter, North Miami, FL 33161
      View Details
    • $3,200,000
      2,688 SF

      Miami Professional Office Building For Sale

      Turn-key professional office building in a vibrant Miami location.
      12035 S Dixie Hwy, Miami, FL 33161
      View Details
    • $3,000,000
      3,170 SF

      North Miami Event Space & Office

      Prime Location, Turnkey Opportunity
      725-745 130 St, North Miami, FL 33161
      View Details
    • Contact for pricing

      Versatile Commercial Space Available

      Open-concept space suitable for various businesses with ample parking.
      13020 NE 8Th Ave, Miami, FL 33161
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,100 SF

      North Miami Office Building For Rent

      Three-story office building in the heart of North Miami.
      915 NE 125Th Ter, North Miami, FL 33161
      View Details
    • $17 SF/Yr
      2,160 SF

      North Miami Office Warehouse Gem

      Modern, renovated office space; prime location.
      12575 7 Ave, North Miami, FL 33161
      View Details
    • $0.01 SF/Yr
      23,348 SF

      Biscayne Blvd Office Building

      Prime Biscayne Blvd Office Space, 23,348 SF
      11077 Biscayne Blvd, Miami, FL 33161
      View Details
    • Contact for pricing
      3,200 SF

      North Miami Office Space Available

      Office space for rent in a growing North Miami area.
      686 NE 125Th Ter, North Miami, FL 33161
      View Details
    • $4 SF/Yr
      5,400 SF

      Prime Flex Space, NE 125th St

      Newly renovated, 5400 sq ft office space.
      777 125Th Ter, North Miami, FL 33161
      View Details
    • $35 SF/Yr
      4,432 SF

      High-Traffic North Miami Corner

      4,432 SF Office/Retail, High Visibility
      590 125Th Ter, North Miami, FL 33161
      View Details
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    550 124th St
    North Miami, FL 33161-5424
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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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