Brand-New Retail or Office
For Sale
$1,499,000
16385 Biscayne Blvd # 105, North Miami Beach, FL 33160
Newly updated retail or office suite with re-done interior and lighting in a fully occupied residential building.
Property Size2,093 SF
Days on Market356
Property Features for 16385 Biscayne Blvd # 105
General Information
Standard status
Active
Size
2,093 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$15,097
Building Details
Building Size
2,093 SF
Year Built
2019
Listing Agency:
Intraproperties Inc.
Listed By:
Enrique Leizorek · License #3175962
Source:
Vanessafrankmiami
Added: Sep 14, 2025
Changed: Sep 3
Last Checked: Sep 4 at 12:08PM
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 Intraproperties Inc.
Investment Insights
Based on property information with market context.
This brand-new retail or office space is located within a residential building that is completely occupied and currently features updated lighting and a fully re-done interior. The space is available as a versatile shell that can be adapted to a range of business uses, including retail, a showroom, a convenience concept, a spa or wellness use, and office-oriented businesses.
The property sits on one of the busiest streets on Biscayne Boulevard at the corner of 163rd Street, providing a high-visibility retail address. It is also positioned near popular shopping centers, with nearby access to the cities of Aventura and North Miami Beach.
The suite benefits from its new condition and recent interior updates, supporting a quick start for an operator looking for a clean, modern build-out in a dense, continuously occupied residential setting.
The property sits on one of the busiest streets on Biscayne Boulevard at the corner of 163rd Street, providing a high-visibility retail address. It is also positioned near popular shopping centers, with nearby access to the cities of Aventura and North Miami Beach.
The suite benefits from its new condition and recent interior updates, supporting a quick start for an operator looking for a clean, modern build-out in a dense, continuously occupied residential setting.
Key Highlights
- New retail or office space in a residential building with 425 units currently occupied
- Suite is on Biscayne Blvd at the corner of 163rd Street and Biscayne
- Updated lighting and a completely re‑done interior
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
$55,475
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
3.70%
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%
$1,109,500
$1.1M
Cap Rate 7%
$792,500
$792.5K
Cap Rate 9%
$616,389
$616.4K
Market Conditions
NOI Build-Up for 2,093 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
$95.4K $45.60/SF
− Vacancy
−$21.5K −$10.26/SF
EGI
$74.0K $35.34/SF
− OpEx
−$18.5K −$8.84/SF
NOI
$55.5K $26.51/SF
Area
Miami-Dade County, FL
Vacancy
22.50%
Lease Rate
$45.60 /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%
$1,109,500
Cap Rate 7%
$792,500
Cap Rate 9%
$616,389
Alternative Uses
Best Use
Office B
$792.5K
$693.4K – $924.6K
NOI $55,475 @ 7.0% cap · market cap 3.70%
Second Best
Retail
$505.6K
$442.4K – $589.9K
NOI $35,391 @ 7.0% cap · market cap 2.36%
Theoretical Best
Office A
$1.06M
$929.1K – $1.24M
NOI $74,331 @ 7.0% cap · market cap 4.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,721
Businesses Nearby
Explore this area
Business Placement
Demographics for 33160, FL
44,085
Population
33,749
Households
1.3
Avg Household Size
48
Median Age
49%
College-Educated
93%
High-School Grad
4.4 sq mi
ZIP Area
10,019
Density / Sq Mi
$62,413
Median Household Income
$43,035
Median Earnings
$1,990
Median Rent
$360,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Newly updated retail or office suite with re-done interior and lighting in a fully occupied residential building.
Where is this retail space located?
The property is located at 16385 Biscayne Blvd # 105 North Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: New retail or office space in a residential building with 425 units currently occupied; Suite is on Biscayne Blvd at the corner of 163rd Street and Biscayne; Updated lighting and a completely re‑done interior
