150 168Th StNorth Miami Beach, FL 33169

  • Healthcare properties
  • 25,900 SF
For Sale
$7,175,000 View listing

Property Details for 150 168Th St

Year built
1973
Lot size
0.86 AC
Property size (Sq ft)
25,900 SF
Property type
Healthcare properties
Property subtype
Other office properties

Description

This three-story, 25,902 square foot Class B office building in North Miami Beach, Florida offers a compelling value-add investment opportunity. Located directly across from Jackson North Medical Center, this multi-tenant property (8 units) boasts a 7.19% pro-forma cap rate and a $7,175,000 asking price ($277.03/sq ft). Built in 1973 and extensively renovated in 2023 (over $3,000,000 in improvements), the building features two elevators, covered parking (85 spaces per 1,000 sq ft), and annual rent escalations. The 0.86-acre lot is zoned North Miami Beach B-2, General Business District, providing flexibility for various uses. Currently at 40.4% occupancy, the property presents significant upside potential. Its prime location near the Golden Glades Interchange, I-95, and the Palmetto Expressway ensures excellent accessibility. The building recently completed its 40-year recertification, confirming its high standards of quality and safety. This fee-simple ownership opportunity provides a strong return on investment with potential for significant future growth. The gross lease structure simplifies management.

150 168Th St, North Miami Beach, Florida

Location Insight

City
North Miami Beach
County
Miami-Dade
State
Florida
Latitude
25.9289
Longitude
-80.2033

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