1222 NE 163 ST North Miami Beach, FL 33162
1222 NE 163 ST, North Miami Beach, FL, 33162
Contact for pricing
For Sale
Contact for pricing
Retail space
Property Size12,000 SF
Price / SF$291.67
Days on Market782
Property Features for 1222 NE 163 ST
General Information
- Standard status
- Active
- Size
- 12,000 SF
- Property subtype
- Retail
Listing Agency
The Keyes Company
Listed by
Michelle Li · License #3543843
Source
Crexi
Added: May 28, 2024 Checked: Jul 17 at 1:43 pm
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.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $331.2k | $27.60 |
| − Vacancy | −$23.2k | −$1.93 |
| EGI | $308.0k | $25.67 |
| − OpEx | −$77.0k | −$6.42 |
| NOI | $231.0k | $19.25 |
12,000 SF · lease $27.60/SF/yr · vacancy 7.00% · expense 25.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
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.
