Retail Space with Restaurant
For Sale
Contact for pricing
1232 NE 163 Street, North Miami Beach, FL 33162
Flexible retail space with a second-generation restaurant configuration and multiple parking options.
Property Size12,191 SF
Price / SF$287.10
Days on Market9
Property Features for 1232 NE 163 Street
General Information
Standard status
Active
Size
12,191 SF
Property subtype
Retail, Office, Industrial
Additional Details
Traffic Count
57,000 vehicles/day
Listing Agency:
The Keyes Company
(305) 371-3592
Listed By:
tini hui · License #0425403
Source:
Crexi
Added: Aug 10
Changed: Aug 18
Last Checked: Aug 18 at 7:04AM
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.
Approximately 3000 sq. ft. of retail space is configured for potential restaurant use, offering flexibility for food-service concepts. The property includes common parking along the front, municipal free parking at the rear, and deeded landlord parking behind the building.
The space is positioned across from a shopping mall on 163 St., with approximately 57000 vehicles passing daily. Its existing layout supports both retail occupancy and restaurant-oriented use.
The space is positioned across from a shopping mall on 163 St., with approximately 57000 vehicles passing daily. Its existing layout supports both retail occupancy and restaurant-oriented use.
Key Highlights
- Approximately 3000 sq. ft. of retail space
- Second‑generation restaurant configuration
- Common parking available in front of the building
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
$234,689
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
6.71%
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%
$4,693,780
$4.7M
Cap Rate 7%
$3,352,700
$3.4M
Cap Rate 9%
$2,607,656
$2.6M
Market Conditions
NOI Build-Up for 12,191 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
$336.5K $27.60/SF
− Vacancy
−$23.6K −$1.93/SF
EGI
$312.9K $25.67/SF
− OpEx
−$78.2K −$6.42/SF
NOI
$234.7K $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%
$4,693,780
Cap Rate 7%
$3,352,700
Cap Rate 9%
$2,607,656
Alternative Uses
Best Use
Specialty Retail
$3.35M
$2.93M – $3.91M
NOI $234,689 @ 7.0% cap · market cap 6.71%
Second Best
Retail
$2.94M
$2.58M – $3.44M
NOI $206,140 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$6.19M
$5.41M – $7.22M
NOI $432,951 @ 7.0% cap · market cap 12.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
57,000 VPD
Traffic count
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
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Frequently Asked Questions
What type of property is this?
Retail space - Flexible retail space with a second-generation restaurant configuration and multiple parking options.
Where is this retail space located?
The property is located at 1232 NE 163 Street 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: Approximately 3000 sq. ft. of retail space; Second‑generation restaurant configuration; Common parking available in front of the building
