Fully Occupied Retail Storefront
For Sale
$3,300,000
1057-1085 NW 119th Street, North Miami, FL 33168
9,300 SF retail center with diverse tenants and high visibility.
Property Size9,300 SF
Price / SF$354.84
Days on Market354
Property Features for 1057-1085 NW 119th Street
General Information
Standard status
Active
Size
9,300 SF
Property subtype
Retail
Building Details
Building Size
9,300 SF
Listing Agency:
Scarlett Harper Commercial
(305) 904-5956
Listed By:
Sebastian Misiewicz · License #SL3243522
(305) 904-5956
Source:
Lee-associates
Added: Sep 10, 2025
Changed: Aug 12
Last Checked: Aug 29 at 6:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Scarlett Harper Commercial
Investment Insights
Based on property information with market context.
This is a fully occupied 9,300 SF retail storefront center built in 1960. The single-story property has been meticulously maintained and features 88 feet of frontage on NW 119th Street. It is positioned in a high-demand market, suitable for investors seeking stable income in a thriving commercial corridor. The property is zoned C-1 on a 0.51-acre lot with a 0.42 FAR. It includes a diverse tenant mix, a new roof, and an upgraded parking surface. There are 38 on-site parking spaces, which is 4.09 per 1,000 SF. The location provides exposure with over 40,000 cars per day on 119th Street and 32,000 on 7th Avenue. The property is located just off Interstate 95 and 7th Avenue. The surrounding neighborhood is densely populated, with over 180,000 residents within a 3-mile radius. The location provides access to major transit arteries and proximity to Opa-Locka Executive Airport, Miami International Airport, Port of Miami, and Port Everglades.
Key Highlights
- Fully occupied 9,300 SF retail center providing stable income.
- High‑traffic location with 88 feet of frontage on NW 119th Street, seeing over 40,000 cars per day.**
- Strategically located just off I‑95 and 7th Avenue, offering exceptional exposure and accessibility.
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
$157,256
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
4.77%
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%
$3,145,120
$3.1M
Cap Rate 7%
$2,246,514
$2.2M
Cap Rate 9%
$1,747,289
$1.7M
Market Conditions
NOI Build-Up for 9,300 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
$245.5K $26.40/SF
− Vacancy
−$20.9K −$2.24/SF
EGI
$224.7K $24.16/SF
− OpEx
−$67.4K −$7.25/SF
NOI
$157.3K $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%
$3,145,120
Cap Rate 7%
$2,246,514
Cap Rate 9%
$1,747,289
Alternative Uses
Best Use
Retail
$2.25M
$1.97M – $2.62M
NOI $157,256 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.72M
$4.13M – $5.50M
NOI $330,280 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
774
Businesses Nearby
Explore this area
Business Placement
Demographics for 33168, FL
24,715
Population
6,761
Households
3.7
Avg Household Size
39
Median Age
16%
College-Educated
79%
High-School Grad
3.6 sq mi
ZIP Area
6,865
Density / Sq Mi
$58,636
Median Household Income
$31,984
Median Earnings
$1,576
Median Rent
$329,000
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.
Frequently Asked Questions
What type of property is this?
Strip mall - 9,300 SF retail center with diverse tenants and high visibility.
Where is this strip mall located?
The property is located at 1057-1085 NW 119th Street North Miami, FL.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Fully occupied 9,300 SF retail center providing stable income.; High‑traffic location with 88 feet of frontage on NW 119th Street, seeing over 40,000 cars per day.**; Strategically located just off I‑95 and 7th Avenue, offering exceptional exposure and accessibility.
