523 & 545 NE 125 St, 544 NE 126 St • North Miami, FL 33161
Prepared exclusively for
STEMBRIDGE REAL ESTATE CO INC
Section I
GoCommercial is pleased to present this Strategic Property Analysis and Marketing Strategy for the NoMi 125th Street Development Site — a premier 1.34-acre assemblage of six lots located on NE 125th Street between NE 5th Avenue and NE 6th Avenue in North Miami, Florida.
This is one of the last remaining large-scale assemblages on the 125th Street corridor, a rapidly transforming thoroughfare where over $500 million in institutional-grade multifamily development is currently in pipeline or under construction. The property’s C-3 zoning within the Planned Corridor Overlay District (PCD) and Neighborhood Redevelopment Overlay District (NRO) provides the most liberal entitlements available in North Miami: up to 100 dwelling units per acre, 110-foot building height (11 stories), and eligibility for multifamily, workforce housing, commercial, office, and hotel uses.
Based on our comprehensive analysis of recent comparable sales, current market dynamics, and the property’s exceptional development potential, we recommend a listing price of $8,500,000 ($146 per square foot of land), representing a 42% increase from the original Gridline Properties offering memorandum price of $6,000,000.
$7,750,000 – $8,750,000
Estimated Market Value Range
$8,500,000
Recommended Listing Price
~$146 PSF of land • ~$63,400 per buildable unit (134 max) • +42% vs. original OM
Section II
| Attribute | Detail |
|---|---|
| Owner | STEMBRIDGE REAL ESTATE CO INC |
| Addresses | 523 & 545 NE 125 St, 544 NE 126 St, North Miami, FL 33161 |
| Folio Numbers | 06-2230-025-0500, 06-2230-025-0490, 06-2230-025-0270, 06-2230-025-0280, 06-2230-025-0510 |
| Total Lot Size | 58,394 SF (1.34 acres) — assemblage of 6 lots |
| Zoning | C-3 — Planned Corridor Overlay District (PCD) + Neighborhood Redevelopment Overlay (NRO) |
| Maximum Density | 100 dwelling units per acre (~134 units) |
| Maximum Height | 110 feet / 11 stories |
| Maximum Lot Coverage | 80% |
| Existing Improvements | Three income-producing buildings totaling 14,419 SF |
| Allowed Uses | Multifamily, Workforce Housing, Commercial, Office, Hotels, Mixed-Use, and more |
| Corridor Context | 2,300+ residential units in planning or development within a five-mile radius |
The C-3 commercial district is North Miami’s most flexible zoning designation, designed to enhance the central business district by encouraging mixed-use development with greater flexibility in development standards. The Planned Corridor Overlay District (PCD) further amplifies the site’s potential, encouraging a compact, high-intensity mix of residential, commercial, employment, and civic-institutional uses to support transit and reduce single-occupancy vehicle use.
Under current zoning, a developer may build up to 134 residential units in an 11-story structure covering 80% of the lot, with mixed-use requirements (three or more uses, one of which must be residential). This density and height allowance is a significant competitive advantage; most North Miami parcels are limited to far lower density.
Section III
The following comparable transactions were identified along the NE 125th Street corridor and in the greater North Miami submarket. Due to the specialized nature of high-density development sites in this corridor, we focused on assemblages with similar C-3/PCD overlay zoning entitlements and development potential.
| Attribute | Detail |
|---|---|
| Sale Price | $7,590,000 |
| Sale Date | 2022 |
| Lot Size | 1.3 acres (56,628 SF) |
| Price Per SF | ~$134 PSF |
| Buyer | Continua Developments + Oldtown Capital Partners |
| Approved Project | 195-unit, 12-story mixed-use apartment building |
| Price Per Buildable Unit | ~$38,923/unit |
| Current Status | Under construction; $50M+ financing secured; completion Q3 2026 |
Nearly identical lot size (1.3 vs. 1.34 acres), same 125th Street corridor, same PCD overlay zoning. This comp traded in 2022 — before Miami-Dade land values surged 62% in 2025. Time-adjusting for cumulative appreciation of 25–35%, the indicated value for the subject site is $168–$181 PSF.
| Attribute | Detail |
|---|---|
| Lot Size | 174,668 SF (~4.0 acres) |
| Approved Project | 384-unit, 8-story mixed-use workforce housing (Omega Investors Group) |
| Total Project Cost | ~$86 million |
| Construction Financing | $103M loan (Berkadia / Churchill Real Estate) |
| Unit Mix | 16 studios, 189 one-beds, 150 two-beds, 29 three-beds |
| Current Status | Under construction |
Larger site located adjacent to the subject property in the same North Miami redevelopment zone. Demonstrates strong institutional appetite for the immediate area and validates the development thesis for this corridor.
Related Companies — one of the nation’s most prominent developers — has proposed a 382-unit, 8-story mixed-use residential development on the former Johnston & Wales campus site at 1650 NE 124 Street. The project is awaiting final approvals and represents another major institutional bet on the North Miami 125th Street corridor. Additional nearby projects include a 220-unit rental building proposed by Strategic Partners at 12830 NE 6th Ave and the 519-unit expansion of Aliro Luxury Apartments at 14000 Biscayne Blvd.
Section IV
The most directly comparable sale (Urbania NoMi) closed at ~$134 PSF in 2022. Since that transaction, Miami-Dade land values have appreciated substantially — residential land median rose to $116 PSF in H1 2025 (+16% YoY), and total land sales volume surged 62% to $2.1 billion. Adjusting for cumulative appreciation and applying a discount for the absence of approved plans yields a range of $130–$150 PSF.
| Scenario | Price PSF | Total Value (58,394 SF) |
|---|---|---|
| Conservative | $130 | $7,591,000 |
| Base Case | $140 | $8,175,000 |
| Aggressive | $150 | $8,759,000 |
The site allows up to 100 du/acre under the PCD overlay, yielding a theoretical maximum of approximately 134 units. Urbania NoMi traded at ~$39,000 per buildable unit in 2022. Adjusting for appreciation, the current range is $52,000–$66,000 per buildable unit.
| Scenario | Per Buildable Unit | Total Value (134 units) |
|---|---|---|
| Conservative | $52,000 | $6,968,000 |
| Base Case | $60,000 | $8,040,000 |
| Aggressive | $66,000 | $8,844,000 |
Section V
According to the MIAMI Association of Realtors, non-agricultural land sales in South Florida reached $7.2 billion in 2025, a six-year high driven by wealth and population migration. Miami-Dade County posted the strongest gains, with land sales volume surging 62% year-over-year to $2.1 billion. The median residential land price across South Florida rose to $101 per square foot — a 14-fold increase from just $7 PSF in 2019.
Underpinning this demand: $137 billion in income flowed into Florida from 2019–2023, with 30% landing in South Florida. In 2024, the Miami metro attracted 55,244 out-of-state job switchers, with highly skilled professionals from New York, New Jersey, and California leading the migration. Miami was ranked No. 1 in the U.S. for global residential investment in the 2026 Knight Frank Wealth Report.
The North Miami multifamily market continues to strengthen, with average rents at $2,425 per month (up 7.84% year-over-year). Workforce housing assets are outperforming the luxury tier, maintaining a 96.4% stabilized occupancy rate. South Florida multifamily cap rates trade in a compressed 4.85%–6.0% band, reflecting intense institutional demand. Approximately 18,500 workforce and affordable units are under construction across Miami-Dade County, a 22% increase from 2024 levels, with the 125th Street corridor attracting a disproportionate share of activity.
The City of North Miami has undertaken a deliberate revitalization strategy, increasing density along major thoroughfares to encourage new development. The subject property sits at the epicenter of this transformation. Notable developments within the immediate area include:
| Project | Units | Height | Status |
|---|---|---|---|
| Urbania NoMi (1150 NE 125th St) | 195 | 12 stories | Under construction |
| Gardens Residences (12640 NE 12th Ave) | 384 | 8 stories | Under construction |
| Manor Biscayne (1650 NE 124th St) | 382 | 8 stories | Awaiting approvals |
| Residences at Griffing Park (475 NE 125 St) | 28 | 7 stories | Approved |
| Strategic Partners (12830 NE 6th Ave) | 220 | TBD | Proposed |
| North Miami Condos (840 NE 130th St) | 67 | 6 stories | In development |
| Aliro Expansion (14000 Biscayne Blvd) | 519 | TBD | In development |
Over 2,300 residential units are in pipeline within a five-mile radius. This is not speculative — institutional-grade developers (Related Companies, Continua, Oldtown Capital) are deploying nine-figure capital into the immediate corridor. The subject site benefits from this transformation as one of the last remaining large-scale assemblages with full PCD entitlements.
Section VI
Development sites at this price point and with this level of entitlement require a go-to-market approach that goes far beyond a standard CoStar or MLS listing. GoCommercial deploys an institutional-grade, multi-channel marketing strategy that simultaneously targets the three highest-probability buyer pools — multifamily developers, workforce housing specialists, and institutional land investors — while ensuring the broadest possible broker community is financially incentivized to participate.
The single largest reason commercial real estate transactions fail is due diligence friction. GoCommercial eliminates this risk by delivering a “ready-to-close” due diligence package at first contact:
Section VII
A credible analysis demands an honest treatment of risk. The following summarizes the primary investor concerns and GoCommercial’s documented mitigating factors — the framework our buyer underwriting team will use to support our target pricing in buyer conversations.
| Risk Factor | Buyer Concern | Mitigating Factor |
|---|---|---|
| No Approved Plans | Buyer must invest time and capital to obtain entitlements and permits | C-3/PCD/NRO zoning is already in place with liberal by-right density (100 du/acre). Multiple nearby projects have successfully permitted, establishing clear precedent with the City. |
| Construction Cost Escalation | Florida multifamily construction runs $300–$350 PSF; insurance is elevated | Costs are stabilizing per industry reports. The land basis at $63,400/unit is competitive enough to absorb current construction costs and still yield attractive returns at North Miami rents. |
| Supply Pipeline | 30,000+ units underway across Miami metro could depress rents | Workforce housing occupancy remains 96.4%. North Miami rents are growing 7.8% YoY. The 125th Street corridor is supply-constrained relative to demand, not overbuilt. |
| Interest Rate Risk | Rate volatility affecting cap rates and buyer financing terms | Fed rate reduction cycle is underway. Development timeline of 3–4 years means stabilization occurs in a potentially more favorable rate environment. |
| Assemblage Complexity | Six-lot assemblage raises title complexity concerns | Assemblage is already completed — all six lots are under common ownership. This eliminates the single greatest risk (and cost) of development site acquisition in urban infill markets. |
| Existing Tenant Disruption | Demolition timeline affected by current tenants/leases | GoCommercial will verify lease expiration schedules and tenant cooperation provisions. Existing income provides holding income during the entitlement phase, which is a net positive. |
Section VIII
GoCommercial operates on a relationship-driven, performance-based model. We do not believe in locking clients into extended agreements with no accountability. Our engagement structure reflects our confidence in our ability to execute, and our commitment to earning your trust every day.
No long-term lock-in. Terminable by owner with 15 days written notice — no penalties, no disputes.
From execution of listing agreement to full market launch across all channels.
Seller retains full approval authority over offer acceptance. GoCommercial advises, client decides.
GoCommercial absorbs 100% of marketing, media, and production costs. If we don’t close, you don’t pay.
| Commission Structure | Amount |
|---|---|
| Total Commission | 6.0% of Gross Sale Price |
| Co-Broker Split (Buyer’s Broker) | 3.0% — maximum market incentive |
| GoCommercial Retained (Listing Side) | 3.0% — earned through marketing investment, buyer qualification, and transaction management |
| Phase | Timeline | GoCommercial Activity |
|---|---|---|
| Engagement & Setup | Days 1–3 | Execute listing agreement; gather financial & property documents; initiate media production |
| Media & Materials | Days 3–7 | Complete video, aerial drone, Matterport, and institutional offering memorandum |
| Market Launch | Days 7–10 | Simultaneous release to developer network, 1031 buyers, and national broker community |
| Buyer Engagement | Weeks 2–8 | Buyer qualification, site tours, due diligence package delivery, LOI negotiation |
| LOI to Contract | Weeks 6–12 | Contract execution; due diligence period management; zoning verification |
| Contract to Close | Weeks 10–20 | Lender coordination; title & escrow management; closing support |
Section IX
Unlike franchised firms, GoCommercial is a publicly traded, nationwide company (NYSE: COMP) where every office is corporately owned. We do not operate as a collection of independent silos; we operate as one unified, data-driven engine.
State headquarters on Lincoln Road, Miami Beach and our flagship office on Palm Beach Island (150 Worth Ave). We live in the zip codes where the world’s wealthiest buyers reside.
You will never be passed to a junior associate. You have the direct cell number of our senior principals, available via call or text at any time. 24/7.
A single, unified national database. A buyer in our Seattle office is instantly flagged for your Florida asset. No franchise silos — one connected platform.
GoCommercial absorbs 100% of marketing, media, and production costs. Elite buyer verification: mandatory NDA, POF, and institutional lender pre-approval before LOI stage.
Many of our clients have partnered with us for over a decade, growing from single-asset owners to multi-state portfolio holders. We view this as a partnership, not a transaction.
Our internal 1031 Exchange Division can identify your up-leg property before we close on NE 125th Street, ensuring zero tax leakage on your proceeds.
Section X
GoCommercial is prepared to move immediately upon execution of the listing agreement. The following action items represent the critical path to maximizing your proceeds and minimizing time on market.
GoCommercial will provide a clean, FAR-BAR-approved listing agreement for your review. The flexible termination clause ensures you retain full control throughout the process.
Current leases, most recent operating statements, property tax bills, survey, environmental reports (if available), and building plans. GoCommercial manages all document organization.
Coordinate a 4–6 hour window for our production team to complete video, drone, and virtual tour capture. Completed in one visit with minimal disruption to tenants.
Within 5–7 business days of execution, your property will be live and in front of the most qualified institutional buyer pool in the country.
Prepared By
Brad Kuskin, Founding Principal
bkuskin@gocommercial.com • www.gocommercial.com
605 Lincoln Road, Miami Beach • 150 Worth Avenue, Palm Beach Island