951 Olympic Building 951 NE 167th St 25,343 SF Office Building Miami, FL 33162 $7,500,000 ($295.94/SF) 8% Cap Rate

Marcus & Millichap is proud to present for sale the Olympic Building, a value-add commercial asset located at 951 NE 167th Street in the heart of North Miami Beach, Florida. This ±25,000-square-foot office building is situated on over one acre of land and is zoned Mixed-Use International Boulevard (MU/IB), offering investors immediate upside through strategic repositioning, lease stabilization, and long-term redevelopment potential.
Significant long-term value lies in the site’s redevelopment potential. With its generous lot size and flexible MU/IB zoning, the property is well-suited for multifamily or a mixed-use development. North Miami Beach’s continued residential growth and increasing investor activity make this a timely opportunity to explore higher and better use strategies.
North Miami Beach is a city on the rise. The broader Miami office market is tightening, with vacancy forecast to decline to 10.4% in 2025. Local demographics further support continued demand: within a five-mile radius, the population exceeds 490,000, with household incomes and employment on an upward trajectory. Major regional employers and institutions contribute to a stable and growing economic base, reinforcing the investment appeal of the corridor.