Miami Square 633-699 NE 167th St 112,638 SF 55% Leased Office Building North Miami Beach, FL 33162 For Sale

Miami Square offers investors and developers a premier, high-yield covered land play in the rapidly growing City of North Miami Beach. Situated on a high-visibility, 3.17-acre corner site along NE 167th Street (55,000 AADT), this income-producing campus features a 12-story office tower, ground-floor retail, and structured parking.
The Asset & Immediate Cash Flow:
The property features a total building area of 140,205 SF (approximately 112,638 SF of rentable area). Benefiting from a comprehensive renovation completed in 2024, the building features modernized systems and common areas, significantly minimizing near-term CapEx. Currently 67% leased to a diverse tenant mix, the asset provides robust in-place cash flow with a clear path to an additional $1.3M in revenue through the lease-up of existing vacancy and resetting below-market rents.
The Redevelopment Play:
Zoned Mixed-Use International Boulevard District - West (MU/IB-W), the site is ripe for a phased redevelopment. While standard zoning permits 80 DU/Acre (up to 252 units), the site’s designation makes it an ideal candidate to leverage Florida's Live Local Act to significantly unlock higher density and height limits for a landmark mixed-use, multifamily, or hospitality concept. Existing conceptual "as-of-right" studies demonstrate the feasibility of preserving the cash-flowing office tower while introducing new residential towers and parking structures.
The ownership will consider qualified joint-venture proposals from experienced developers and capital partners, in addition to an outright sale.