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 Market60
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
Listed By:
tini hui · License #0425403
(305) 371-3592
Source:
Crexi
Added: Aug 10
Changed: Oct 1
Last Checked: Oct 7 at 12:03PM
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 / Yr
$234,689
Cap Rate
6.71%
Suggested Prices Based on Cap Rates
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
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 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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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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
