1640 164Th StNorth Miami Beach, FL 33162

Property Details for 1640 164Th St

Year built

1972

Property size (Sq ft)

9,234 SF

Property type

Land

Property subtype

Other retail properties

Description

This fully occupied, 9,234 square foot retail strip center in North Miami Beach, FL presents a compelling investment opportunity. The property features five tenants in six bays, all currently leased at below-market rates, offering significant upside potential through future rent increases. Boasting a 100% occupancy rate and a current NOI of $225,418, the property shows a 5.64% cap rate with a pro-forma cap rate of 8.03%. Situated on a 21,000 square foot lot in a high-traffic corridor near Biscayne Boulevard and I-95, the center benefits from excellent visibility and convenient access. The property is located within the Town Center District, an area undergoing revitalization with favorable zoning allowing for mixed-use and higher-density development, presenting potential for future expansion or redevelopment. Built in 1972, the single-story building offers 22 parking spaces. The property is zoned B-2 and features a modified gross lease type. This is a rare opportunity to acquire a stable, high-performing retail investment with substantial value-add potential. The asking price is $4,000,000.

Location Insight

City

North Miami Beach

County

Miami-Dade

State

Florida

Latitude

25.9269

Longitude

-80.167

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].