For Sale
$1,550,000

13639 Dixie Hwy North Miami, FL 33161

Freestanding retail building, high traffic area.

Overview

Added:
Dec 11, 2024
Days on market:
134
This exceptional freestanding retail building, located at 13639 W Dixie Highway in North Miami, Florida (33161), presents a compelling investment opportunity. The 4,080 square foot property sits on a 13,802 square foot lot and boasts a 6.94% cap rate with a current NOI of $84,000. Currently housing three tenants in a 100% occupied, multi-tenant structure, the property offers a gross lease and has one year remaining on the current lease. The building, constructed in 1954, features one story and eight parking spaces. Zoned C-1, the property offers significant redevelopment potential, with permitted zoning allowing for increased density (up to 100 dwelling units per acre). This translates to a maximum of 32 units on this site, making it an attractive proposition for developers seeking to capitalize on redevelopment incentives. The asking price is $1,550,000, representing a price per square foot of $379.90. The property's prime location on a busy stretch of W Dixie Highway ensures high visibility and strong foot traffic. This is a solid land play with the potential for significant future returns.

Highlights

  • Freestanding retail building at 13639 W Dixie Highway, North Miami, FL 33161.
  • 4,080 square foot building on a 13,802 square foot lot.
  • 6.94% cap rate with $84,000 current NOI.
  • 100% occupied, multi-tenant building with a gross lease, one year remaining.
  • Asking price: $1,550,000 ($379.90/SF).
  • C-1 zoning allows for redevelopment up to 32 units.

Property Details for 13639 Dixie Hwy

Property type
Retail properties, Retail space
Square Feet
4,080 SF
Year Built
1954
Buildings
1
Stories
1
Units
4

Location Insight

City
North Miami
County
Miami-Dade
State
Florida
Latitude
25.9010333
Longitude
-80.1772077

FAQs

What type of property is this?
Retail property - Freestanding retail building, high traffic area.
Where is the retail property located?
The property is located at 13639 Dixie Hwy North Miami, FL.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Freestanding retail building at 13639 W Dixie Highway, North Miami, FL 33161.; 4,080 square foot building on a 13,802 square foot lot.; 6.94% cap rate with $84,000 current NOI.
How can I contact the broker?
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13639 Dixie Hwy
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