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Property profile & analytics
OFF-MARKET
Estimated value
$855,000
Office buildings
550 124th St, North Miami, FL 33161-5424
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-8941293
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1945
Construction
CONCRETE
Total area
2,474 SF
Lot
0.23 ac (10,050 SF)
Zoning code
6000:COMMERCIAL,GENERAL
APN
06-2230-030-0160
UPID
US18-8941293
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$865k
CAP Approach
CAP
$1.17M
Comparable Approach
Comparable
$1.08M
Blend (final)
Blend
$855k
Owner & transaction history
Abundant Life Chr Of God Ministry C · 4 yrs held
Abundant Life Chr Of God Ministry C
since 2022
Last sale
$875,000
7 recorded transactions
Zoning & alternative use
6000:COMMERCIAL,GENERAL · North Miami, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.1M
+34.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs North Miami submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Miami submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue 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
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
Blend value · Realmo final
$855k
Range $770k – $941k · ±10% · vs last sale $875k (Apr 18 2022)
Last sale anchor
$875k
Apr 18 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$346 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Assessed value
$675,460
Assessed 2023
Previous assessed
$546,481
+23.6% YoY
Assessed land
$502,500
Assessed improvement
$172,960
Land market value
$502,500
Improvement market value
$172,960
Total market value
$675,460
Applied tax rate
600.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1945
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Bathrooms
1
Total area
2,474 SF
Lot
0.23 ac (10,050 SF)
Zoning code
6000:COMMERCIAL,GENERAL
APN
06-2230-030-0160
UPID
US18-8941293
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6000:COMMERCIAL,GENERAL · North Miami, FL
Zoning 6000:COMMERCIAL,GENERAL · permitted uses
6000:COMMERCIAL,GENERAL · North Miami, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Miami. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$805,000
MEDICAL BUILDING
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$735,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$705,000
RETAIL STORES
Est. value
$645,000
OFFICE BUILDING Current
MEDICAL BUILDING
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1945
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.23 ac
Current owner
From public records · entity-resolved
Abundant Life Chr Of God Ministry C
Individual
Mailing address
1616 NE 166TH ST, NORTH MIAMI BEACH, FL 33168
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 18, 2022
$875,000
Abundant Life Chr Of God Ministry C
Adbp Holdings LLC
Warranty Deed
$568,750 · Bank Of The Ozarks
Jun 19, 2020
—
Adbp Holdings LLC
—
Deed
related
$65,000 · Td Bank NA
Feb 27, 2019
—
Adbp Holdings LLC
—
Deed
related
$161,000 · Td Bank NA
Dec 12, 2018
—
Adbp Holdings LLC
—
Deed
related
$161,000 · Td Bank NA
May 9, 2017
—
Adbp Holdings LLC
Pierre,andre
Quit Claim Deed
related
—
Feb 9, 2017
—
Andre Pierre
—
Deed
related
$151,500 · Yale Mortgage Funding LLC
Nov 21, 2007
$375,000
Andre Pierre
M/d Financial Services INC
Warranty Deed
$115,000 · M/d Financial Service INC
Oct 21, 1999
$140,000
M/d Financial Services INC
Sintow Enterprises INC
Grant Deed
related
$105,000 · Seller
—
—
M/d Financial Services INC
—
Deed Of Trust
related
$75,000 · American Financial Corp Intern
—
—
M/d Financial Services INC
—
Deed Of Trust
related
$147,000 · Interbay Funding LLC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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