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    Property profile & analytics

    699 NE 167 St North Miami Beach, FL 33162

    • Office buildings
    • 105,932 SF
    • 2.90 lot acres
    For Lease
    View listing
    $35 SF/Yr
    Last Sale
    Jun 16, 2022
    $19,750,000
    Value Estimations
    $17,635,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US19-0824968
    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

    • Office buildings

    Property Details for 699 NE 167 St

    Year built
    1965
    Construction
    CONCRETE
    Lot size
    2.90 lot acres
    Property size
    105,932 SF
    Zone code
    6400:COMMERCIAL,CENTRAL
    Property type
    Office buildings
    APN
    07-2207-013-0010
    APU
    722070130010

    Description

    This exceptional 1,243 square foot office space is ideally situated in the Miami Square Building on NE 167th Street (North Miami Beach Boulevard), near the intersection of NE 6th Avenue and I-95. The property boasts a highly visible storefront location within a bustling commercial area, ensuring significant foot and vehicle traffic. Its strategic placement offers easy accessibility and high visibility, further enhanced by its proximity to popular shopping centers and the beautiful beaches of North Miami Beach. The single-tenant office building is a one-story structure (APN: 07-22-07-013-0010, Zoning: 6400) and features a spacious layout perfectly suited for various office uses. Modern infrastructure and ample parking are included, adding to the convenience and appeal of this property. The vibrant community and thriving commercial area surrounding the building present a dynamic and promising environment for any business. This is a rare opportunity to secure a prime office space in a highly desirable North Miami Beach location. The property is zoned for office use and offers a single-tenant occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $18,365,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $12,909,000
      Market price range: $7.98M - $25.5M

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

    Location Insight

    • Map
    • Local Demand
    City
    North Miami Beach
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1872
    Latitude
    25.9291
    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
    $294,975
    $5,055,280
    $10,844,720
    $15,900,000
    -
    $5,055,280
    $10,844,720
    $15,900,000

    Comparable in this City

    • Value Estimation by Request
      1,904 SF

      909 Miami Bch Blvd Ste, Unit 402

      PROFESSIONAL BUILDING • 1,904 SF
      909 Miami Bch Blvd Ste, North Miami Beach, FL 33162-3712
      View Details
    • Value Estimation by Request
      2,687 SF

      909 Miami Bch Blvd Ste, Unit 403

      PROFESSIONAL BUILDING • 2,687 SF
      909 Miami Bch Blvd Ste, North Miami Beach, FL 33162-3712
      View Details
    • Value Estimation
      $1,275,000
      5,191 SF

      18200 19th Ave

      OFFICE BUILDING (MULTI-STORY) • 5,191 SF
      18200 19th Ave, North Miami Beach, FL 33162-1600
      View Details
    • Value Estimation
      $1,230,000
      4,201 SF

      1184 151st St

      OFFICE BUILDING (MULTI-STORY) • 4,201 SF
      1184 151st St, North Miami Beach, FL 33162-5825
      View Details
    • Value Estimation
      $1,720,000
      7,701 SF

      1880 163rd St

      PROFESSIONAL BUILDING • 7,701 SF
      1880 163rd St, North Miami Beach, FL 33162-4867
      View Details
    • Value Estimation
      $1,765,000
      7,662 SF

      1595 163rd St

      OFFICE BUILDING (MULTI-STORY) • 7,662 SF
      1595 163rd St, North Miami Beach, FL 33162-4717
      View Details

    Similar Nearby for Sale

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      440,000 SF

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      380-unit complex, prime location, high occupancy.
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      North Miami Beach Office Space

      Office space for lease in North Miami Beach.
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    • $750,000

      North Miami Beach Retail/Office Building

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      10,000 SF

      Miami Golden Glades Development Site

      134,246 SF headquarters on 12.8 acres near Golden Glades.
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    • Contact for pricing
      12,000 SF

      167th Street Plaza Office Space

      Aldi-anchored plaza; high-traffic location.
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    • $7,000 /Mo
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      North Miami Beach Office Space

      Second floor office space with high visibility in North Miami Beach.
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    • New
      $4,300 /Mo

      North Miami Beach Commercial Space

      1500 sqft commercial space with street exposure and parking.
      18139 NE 19Th Ave, North Miami Beach, FL 33162
      View Details
    • $18 SF/Yr

      North Miami Beach Full Floor

      Full floor office space in North Miami Beach for lease.
      699 NE 167 St, North Miami Beach, FL 33162
      View Details
    • $34 SF/Yr

      North Miami Beach Office/Retail Space

      2,888 SF vacant office/retail shell space available for lease.
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      View Details
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    699 NE 167 St
    North Miami Beach, FL 33162
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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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