Investment Overview

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. Constructed in 1972, the two-story structure features 86 parking spaces (22 covered) and offers a solid foundation for a wide range of repositioning strategies. The property’s layout, construction, and location make it ideal for adaptive reuse into professional or medical office, educational facilities, wellness centers, or similar institutional uses. Investors seeking to modernize and elevate the asset will benefit from improving market conditions and strong demand in the surrounding area. 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. The Olympic Building represents a rare opportunity to acquire a versatile commercial asset in a prime North Miami Beach location, with multiple clear paths to enhanced value and future upside.