Mixed-Use Development
For Sale
Contact for pricing
1651 NE 163rd St, North Miami Beach, FL 33162
MU/TC mixed-use zoning accommodates commercial, retail, and residential integration along a major South Florida arterial.
Property Size9,923 SF
Price / SF$352.69
Days on Market163
Property Features for 1651 NE 163rd St
General Information
Standard status
Active
Size
9,923 SF
Property subtype
Retail
Zoning
MU/TC mixed use
Occupancy
100%
Lease Type
Net
Investment Type
Stabilized
Net Operating Income
$163,352
Site & Location
Traffic Count
60,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Building Details
Buildings
1
Units
4
Listing Agency:
I.P.O. Realty, Inc.
Listed By:
Alan Berger · License #BK676777
Source:
Crexi
Added: Mar 23
Changed: Aug 30
Last Checked: Sep 1 at 12:56AM
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 I.P.O. Realty, Inc.
Investment Insights
Based on property information with market context.
This mixed-use development property is positioned along NE 163rd Street, also identified as SR-826, a six-lane arterial connecting I-95 with Sunny Isles Beach and Aventura. The site carries MU/TC mixed-use zoning within a mixed-use overlay intended for high-density, pedestrian-oriented, and transit-oriented development.
The property benefits from exposure to reported daily traffic of over 55,000 to 60,000 vehicles. Nearby retail destinations include The Mall at 163rd Street, Walmart Supercenter, and Home Depot, along with international restaurants and professional services. The surrounding North Miami Beach trade area includes over 43,000 residents and more than 9,000 people per square mile, providing a dense consumer base for future commercial, retail, or integrated mixed-use development.
The property benefits from exposure to reported daily traffic of over 55,000 to 60,000 vehicles. Nearby retail destinations include The Mall at 163rd Street, Walmart Supercenter, and Home Depot, along with international restaurants and professional services. The surrounding North Miami Beach trade area includes over 43,000 residents and more than 9,000 people per square mile, providing a dense consumer base for future commercial, retail, or integrated mixed-use development.
Key Highlights
- MU/TC mixed‑use zoning with commercial, retail, and residential integration
- Located on NE 163rd Street (SR‑826), a six‑lane arterial
- Reported daily traffic of over 55,000 to 60,000 vehicles
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
$171,172
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
4.89%
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%
$3,423,440
$3.4M
Cap Rate 7%
$2,445,314
$2.4M
Cap Rate 9%
$1,901,911
$1.9M
Market Conditions
NOI Build-Up for 9,923 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
$297.7K $30.00/SF
− Vacancy
−$23.8K −$2.40/SF
EGI
$273.9K $27.60/SF
− OpEx
−$102.7K −$10.35/SF
NOI
$171.2K $17.25/SF
Area
Miami-Dade County, FL
Vacancy
8.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$3,423,440
Cap Rate 7%
$2,445,314
Cap Rate 9%
$1,901,911
Alternative Uses
Best Use
Mixed Use
$2.45M
$2.14M – $2.85M
NOI $171,172 @ 7.0% cap · market cap 4.89%
Second Best
Retail
$2.40M
$2.10M – $2.80M
NOI $167,790 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$5.03M
$4.41M – $5.87M
NOI $352,405 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
60,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
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?
Mixed-use property - MU/TC mixed-use zoning accommodates commercial, retail, and residential integration along a major South Florida arterial.
Where is this mixed-use property located?
The property is located at 1651 NE 163rd St North Miami Beach, FL.
What is the asking price?
The asking price for this property is $3,499,770.
What are key features of this property?
This property features: MU/TC mixed‑use zoning with commercial, retail, and residential integration; Located on NE 163rd Street (SR‑826), a six‑lane arterial; Reported daily traffic of over 55,000 to 60,000 vehicles
