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Z Medical Offices 21 NE 168th St 19,000 SF Office Building North Miami Beach, FL 33162 $1,199,000 ($63.11/SF) 15.00% Cap Rate
Investment Highlights
- Corner Lot
- World Class Location
Executive Summary
Rare Opportunity to acquire an existing house of worship in the heart of North Miami Beach's rapidly evolving corridor. Located minutes from major thoroughfares including Biscayne Blvd & I-95, near 163rd Street Commercial district, this property offers exceptional potential for adaptive reuse or redevelopment. Ideal for conversion to medical office, professional space, or continued use as church. Surrounded by ongoing redevelopment and supported by strong residential density, this site presents a compelling investment for users and developers alike. This property is located on the Corner of NE 168th & N. Miami Ave surrounded by Redevelopment within the Residential Office District with RO Zoning
Just 2 blocks - 1/3 mile from Jackson North location of the Jackson Memorial Hospital. Over $300m+ state of the art emergency department
The following professional offices uses shall be permitted, subject to administrative site plan approval:
Accounting and auditing
Advertising
Appraisers
Architecture/engineering
Building contracting (office only, no related equipment or vehicle storage of any sort on the premises)
Chiropractic
Dentistry (excluding clinics)
Economic analysis and planning
Financial planning
Insurance
Investigative
Investment (excluding brokerage offices)
Law
Market research
Medicine (excluding clinics)
Notary public
Planning and zoning consulting
Psychological counseling (excluding clinics)
Public relations
Realty offices
Secretarial services
Studio, fine arts
Surveying (office only, no related equipment or vehicle storage of any sort on the premises)
Other offices of a nature similar to that of the above uses
Just 2 blocks - 1/3 mile from Jackson North location of the Jackson Memorial Hospital. Over $300m+ state of the art emergency department
The following professional offices uses shall be permitted, subject to administrative site plan approval:
Accounting and auditing
Advertising
Appraisers
Architecture/engineering
Building contracting (office only, no related equipment or vehicle storage of any sort on the premises)
Chiropractic
Dentistry (excluding clinics)
Economic analysis and planning
Financial planning
Insurance
Investigative
Investment (excluding brokerage offices)
Law
Market research
Medicine (excluding clinics)
Notary public
Planning and zoning consulting
Psychological counseling (excluding clinics)
Public relations
Realty offices
Secretarial services
Studio, fine arts
Surveying (office only, no related equipment or vehicle storage of any sort on the premises)
Other offices of a nature similar to that of the above uses
Financial Summary (Pro Forma - 2027) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$608,000
|
$176.95
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$608,000
|
$176.95
|
| Net Operating Income |
-
|
-
|
Financial Summary (Pro Forma - 2027)
| Gross Rental Income | |
|---|---|
| Annual | $608,000 |
| Annual Per SF | $176.95 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $608,000 |
| Annual Per SF | $176.95 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Deferred Maintenance
Property Type
Office
Property Subtype
Medical
Building Size
19,000 SF
Building Class
C
Year Built
1977
Price
$1,199,000
Price Per SF
$63.11
Cap Rate
15.00%
NOI
$179,850
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
19,000 SF
Building FAR
1.41
Lot Size
0.31 AC
Zoning
RO - RO- Residential Office District
Parking
12 Spaces (0.63 Spaces per 1,000 SF Leased)
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- TBA
- Health Care and Social Assistance
- -
- -
- Triple Net
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| TBA | Health Care and Social Assistance | - | - | Triple Net | - |
1 1
Moderately walkable
70/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 07-2113-007-0900 | Improvements Assessment | $0 (2025) |
| Land Assessment | $0 (2025) | Total Assessment | $712,299 (2025) |
Property Taxes
Parcel Number
07-2113-007-0900
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$712,299 (2025)
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Z Medical Offices | 21 NE 168th St
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