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

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

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