1050 Miami Beach BlvdNorth Miami Beach, FL 33162

Property Details for 1050 Miami Beach Blvd

Year built

1964

Construction

CONCRETE

Lot size

0.24 AC

Property size (Sq ft)

5,060 SF

Zone code

6400:COMMERCIAL,CENTRAL

Property type

Retail properties

Property subtype

Outlet malls

APN

07-2217-014-0020

APU

722170140020

Description

This exceptional investment opportunity presents a 4,423 square foot, single-tenant storefront located at 1050 N Miami Beach Blvd in North Miami Beach, Florida. The property, built in 1964, sits on a 10,387 square foot lot and boasts 8 parking spaces. Currently 100% occupied by Furniture 2 Go under a double net lease with a remaining term of approximately 3.6 years (expiring June 30, 2028), the lease includes one five-year option. The property generates a Net Operating Income (NOI) of $168,000, representing a 6.25% cap rate based on the asking price of $2,688,000. The property benefits from its prime location on a major commercial corridor, N Miami Beach Boulevard (SR 826), with high daily traffic counts exceeding 57,000 vehicles. Its strategic position near a signalized intersection ensures excellent visibility. The surrounding area features numerous national retailers, including Publix, Walmart, Home Depot, Ross Dress for Less, and Lowe's, further enhancing the property's desirability. The zoning is designated as 6400 - Commercial. This fee-simple ownership offers a stable, net-leased investment with a strong tenant and significant upside potential due to the lease's built-in rental increases. The property's location within a densely populated area, with over 200,000 residents within a three-mile radius, contributes to its long-term value and attractiveness to investors seeking a secure and profitable retail investment in Miami-Dade County.

Location Insight

City

North Miami Beach

County

Miami-dade

State

Florida

Latitude

25.9259

Longitude

-80.1791

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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