For Sale
Contact for pricing
1222 NE 163 ST, North Miami Beach, FL 33162
Retail space
Property Size12,000 SF
Price / SF$291.67
Days on Market827
Property Features for 1222 NE 163 ST
General Information
Standard status
Active
Size
12,000 SF
Class
B
Property subtype
Retail
Zoning
Commercial
Building Details
Stories
2
Units
3
Listing Agency:
The Keyes Company
Listed By:
Michelle Li · License #3543843
Source:
Crexi
Added: May 28, 2024
Changed: Aug 8
Last Checked: Aug 31 at 5:07AM
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 The Keyes Company
Investment Insights
Based on property information with market context.
Key Highlights
- High‑traffic location: Situated on a busy main street in North Miami Beach with over 60,000 cars passing daily.
- Fully built‑out kitchen: Ground level features a complete kitchen with restaurant equipment, ready for immediate lease.
- Versatile retail space: Second floor offers a wide‑open retail area suitable for various business types.
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
$231,012
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
6.60%
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%
$4,620,240
$4.6M
Cap Rate 7%
$3,300,171
$3.3M
Cap Rate 9%
$2,566,800
$2.6M
Market Conditions
NOI Build-Up for 12,000 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
$331.2K $27.60/SF
− Vacancy
−$23.2K −$1.93/SF
EGI
$308.0K $25.67/SF
− OpEx
−$77.0K −$6.42/SF
NOI
$231.0K $19.25/SF
Area
Miami-Dade County, FL
Vacancy
7.00%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
25.00%
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%
$4,620,240
Cap Rate 7%
$3,300,171
Cap Rate 9%
$2,566,800
Alternative Uses
Best Use
Specialty Retail
$3.30M
$2.89M – $3.85M
NOI $231,012 @ 7.0% cap · market cap 6.60%
Second Best
Retail
$2.90M
$2.54M – $3.38M
NOI $202,910 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$6.09M
$5.33M – $7.10M
NOI $426,167 @ 7.0% cap · market cap 12.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,074
Businesses Nearby
Explore this area
Business Placement
Demographics for 33162, FL
45,277
Population
16,719
Households
2.7
Avg Household Size
39
Median Age
21%
College-Educated
81%
High-School Grad
5.3 sq mi
ZIP Area
8,543
Density / Sq Mi
$55,993
Median Household Income
$31,848
Median Earnings
$1,535
Median Rent
$345,000
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
Where is this retail space located?
The property is located at 1222 NE 163 ST North Miami Beach, FL.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: High‑traffic location: Situated on a busy main street in North Miami Beach with over 60,000 cars passing daily.; Fully built‑out kitchen: Ground level features a complete kitchen with restaurant equipment, ready for immediate lease.; Versatile retail space: Second floor offers a wide‑open retail area suitable for various business types.
