16501 6Th AveMiami, FL 33162

Property Details for 16501 6Th Ave

Year built

1956

Construction

CONCRETE

Lot size

0.57 AC

Property size (Sq ft)

11,369 SF

Zone code

6400:COMMERCIAL,CENTRAL

Property type

Retail properties

Property subtype

Outlet malls

APN

30-2218-003-0380

APU

3022180030380

Description

This exceptional opportunity presents the acquisition of a well-established, family-owned health food store in Miami, Florida. Located at 16501 NE 6th Ave, Miami, FL 33162, this special purpose property boasts a rich history spanning over 50 years. The business, ABC Health Foods, specializes in organic vegetarian and vegan products, including vitamins, oils, and supplements. The store offers a wide selection of natural food supplements, herbs, nuts, and a refrigerated section featuring juices and vegetarian foods. The current owner operates the store and provides comprehensive training to ensure a smooth transition for the new owner. The knowledgeable owner is a valuable asset, possessing extensive product knowledge. The property includes a lease with favorable terms: a 34-month lease commencing March 1, 2022, and ending December 31, 2024, with an option to renew. The second year's rent payment was $4,748.49, inclusive of sales tax and processing fees. This turnkey operation is priced at $375,000 and presents a unique opportunity for an investor seeking a profitable and established business in a thriving Miami location. The building was constructed in 1956. This is a rare chance to own a piece of Miami's health food history and build upon its already successful foundation.

• CAP approach

  CAP return

  Valuation

  6%

  $4,495,709

  6.5%

  $4,149,885

  7%

  $3,853,465

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,040,779

  Geo Method

  $4,040,779

• Alternative Use

  Use

  Valuation

  Residential

  $3,500,584

  Hospitality

  $3,206,516

  Educational

  $2,667,783

  Medical

  $2,759,532

  Retail

  $4,149,885

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.9273

Longitude

-80.1879

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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