7-Unit Neighborhood Shopping
For Sale
$2,100,000
12985 W Dixie Hwy, North Miami, FL 33161
Commercial Sale, North Miami, FL
Property Size7,742 SF
Lot Size0.18 Acres
Price / SF$271.25
Days on Market70
Property Features for 12985 W Dixie Hwy
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
6600
Subdivision
22
Standard status
Active
APN
06-22-30-006-0550
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
30 52 42 IRONS MANOR 5TH ADD PB 22-38 LOT 1 & PORT OF ST ABUTTING NE COR PER DB 4252-588 BLK 15 LOT SIZE 7742 SQUARE FEET OR 20507-0481 0702
Tax Annual Amount
13687
Legal Description
30 52 42 IRONS MANOR 5TH ADD PB 22-38 LOT 1 & PORT OF ST ABUTTING NE COR PER DB 4252-588 BLK 15 LOT SIZE 7742 SQUARE FEET OR 20507-0481 0702
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1956
Floors in Building
1
Number of units
7
Listing Agency:
Fortune Christie's Intl R.E.
(305) 856-2600
Listed By:
Monica Hurtado · License #3298858
(786) 380-5318
Added: Jun 30
Changed: Sep 2
Last Checked: Sep 7 at 7:06PM
MLS# A11897492
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This neighborhood shopping center contains a 7,742 SF retail building configured with seven leased units. The property was built in 1956 and includes central air, public water, and public sewer. All seven suites are occupied under lease terms ranging from 2–3 years, with a reported 6.66% cap rate.
The center occupies a corner along W Dixie Hwy in North Miami and includes frontage, on-site parking, and exposure to steady traffic. The surrounding area is identified as experiencing ongoing development. The property is designated with zoning code 6600 and is located at 12985 W Dixie Hwy, North Miami, FL 33161.
The center occupies a corner along W Dixie Hwy in North Miami and includes frontage, on-site parking, and exposure to steady traffic. The surrounding area is identified as experiencing ongoing development. The property is designated with zoning code 6600 and is located at 12985 W Dixie Hwy, North Miami, FL 33161.
Key Highlights
- 7,742 SF retail building with 7 leased units
- All seven units occupied under 2–3 year lease terms
- Reported 6.66% cap rate
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$130,911
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,618,220
$2.6M
Cap Rate 7%
$1,870,157
$1.9M
Cap Rate 9%
$1,454,567
$1.5M
Market Conditions
NOI Build-Up for 7,742 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$204.4K $26.40/SF
− Vacancy
−$17.4K −$2.24/SF
EGI
$187.0K $24.16/SF
− OpEx
−$56.1K −$7.25/SF
NOI
$130.9K $16.91/SF
Area
Miami-Dade County, FL
Vacancy
8.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,618,220
Cap Rate 7%
$1,870,157
Cap Rate 9%
$1,454,567
Alternative Uses
Best Use
Retail
$1.87M
$1.64M – $2.18M
NOI $130,911 @ 7.0% cap · market cap 6.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.93M
$3.44M – $4.58M
NOI $274,949 @ 7.0% cap · market cap 13.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,165
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33161, FL
53,015
Population
18,912
Households
2.8
Avg Household Size
37
Median Age
21%
College-Educated
81%
High-School Grad
5.5 sq mi
ZIP Area
9,639
Density / Sq Mi
$55,265
Median Household Income
$34,311
Median Earnings
$1,494
Median Rent
$376,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Shopping center - Fully leased retail center with central air, public water, and public sewer.
Where is this shopping center located?
The property is located at 12985 W Dixie Hwy North Miami, FL.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 7,742 SF retail building with 7 leased units; All seven units occupied under 2–3 year lease terms; Reported 6.66% cap rate
