Log In/Sign Up
Your email has been sent.
610-618 NE 124th St 6,480 SF 100% Leased Office Building North Miami, FL 33161 $3,500,000 ($540.12/SF)
Executive Summary
610–618 NE 124th Street is a 6,480-square-foot, multi-tenant commercial property on a 7,500-square-foot lot (75' × 100') in the core of Downtown
North Miami, one block south of the NE 125th Street corridor between NE 6th and NE 7th Avenues. The property consists of a five-bay storefront
building has currently approximately 4,500 leasable square feet (five spaces of ±900 SF each, addresses 610–618) and a separate rear warehouse/flex building
of approximately 1,755 square feet with its own access, plus on-site surface parking. The storefronts are 100% occupied by a complementary mix of service tenants. A barber shop, and insurance agency and a dental laboratory with an affiliated dental office, occupying three combined bays. Current collections total $13,400 per month ($160,800 per year. with a clearly supported path to $18,500 per month ($222,000 per year) at market potential rents, including lease of rear warehouse at $3,500 per month. The offering durable in place cash flow with visible growth. Recent comparable leases within the immediate trade area at $39-$49 PSF on the 125th st corridor, and the asking price equates to $540 PSF, in line with the $518 median and $554 average of Costars 17 property sale -comparable set for this asset profile, before attributing to the C-3 downtown zoning and CRA redevelopment optionality.
North Miami, one block south of the NE 125th Street corridor between NE 6th and NE 7th Avenues. The property consists of a five-bay storefront
building has currently approximately 4,500 leasable square feet (five spaces of ±900 SF each, addresses 610–618) and a separate rear warehouse/flex building
of approximately 1,755 square feet with its own access, plus on-site surface parking. The storefronts are 100% occupied by a complementary mix of service tenants. A barber shop, and insurance agency and a dental laboratory with an affiliated dental office, occupying three combined bays. Current collections total $13,400 per month ($160,800 per year. with a clearly supported path to $18,500 per month ($222,000 per year) at market potential rents, including lease of rear warehouse at $3,500 per month. The offering durable in place cash flow with visible growth. Recent comparable leases within the immediate trade area at $39-$49 PSF on the 125th st corridor, and the asking price equates to $540 PSF, in line with the $518 median and $554 average of Costars 17 property sale -comparable set for this asset profile, before attributing to the C-3 downtown zoning and CRA redevelopment optionality.
Data Room Click Here to Access
Financial Summary (Pro Forma - 2027) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2027) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
6,480 SF
Building Class
C
Year Built
1953
Price
$3,500,000
Price Per SF
$540.12
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
6,480 SF
Building FAR
0.86
Lot Size
0.17 AC
Zoning
C-3 - Flexible C-3 downtown commercial zoning inside the CRA. Broad retail, office, medical and personal-services.
Parking
8 Spaces (1.23 Spaces per 1,000 SF Leased)
1 1
Moderately walkable
70/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 06-2230-032-0220 | Total Assessment | $745,159 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2027 |
Property Taxes
Parcel Number
06-2230-032-0220
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$745,159 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2027
1 of 58
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
