12699 6Th AveNorth Miami, FL 33161

Property Details for 12699 6Th Ave

Year built

1979

Construction

CONCRETE

Lot size

0.20 AC

Property size (Sq ft)

2,400 SF

Zone code

6600:COMMERCIAL,LIBERAL

Property type

Retail properties

Property subtype

Turn key restaurants

APN

06-2230-007-0430

APU

622300070430

Description

This exceptional investment opportunity presents a 2,400 square foot Pizza Hut restaurant located at 12699 NE 6th Ave, North Miami, FL 33161, on a 0.2-acre lot. The property boasts a highly visible, hard corner location in a high-traffic area with over 66,000 cars passing daily. Currently operating under a single-tenant, absolute NNN lease with Pizza Hut, the lease commenced October 20, 2000, and expires October 20, 2030, with 5.9 years remaining. The lease includes a five-year option with a 10% rent increase in October 2025. The current rent is well below market value at $16.98 per square foot. Built in 1979 and renovated in 2021, the property features 2,104 net rentable square feet and 6 parking spaces. The C-3 zoning allows for redevelopment potential, making this an attractive opportunity for long-term investors. The property is surrounded by national tenants including Publix, CVS, Walgreens, and 7-Eleven, and is conveniently located near North Miami Middle and Senior High Schools, the Museum of Contemporary Art, and City government offices. The asking price is $1,995,000 ($831.25 per square foot). This property benefits from strong demographics, with 179,877 people within a 3-mile radius. Two neighboring parcels are also available for off-market purchase.

• CAP approach

  CAP return

  Valuation

  6%

  $2,288,906

  6.5%

  $2,112,836

  7%

  $1,961,919

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,315,537

  Geo Method

  $2,315,537

• Alternative Use

  Use

  Valuation

  Residential

  $1,782,256

  Hospitality

  $1,632,537

  Educational

  $1,358,252

  Medical

  $1,404,964

  Retail

  $2,112,836

Location Insight

City

North Miami

County

Miami-dade

State

Florida

Latitude

25.8919

Longitude

-80.1862

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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].