16600 NE 3Rd Ave Miami, FL 33162

This freestanding building, encompassing approximately 3,312 square feet, is located in a high-traffic corridor. Situated on a 7,150 square-foot lot, the property features 8 existing on-site parking spaces with the potential to add approximately 6 additional spaces. The property is located within a dense and steadily growing trade area, supported by approximately 22,000 residents within a one-mile radius. The surrounding population includes young professionals and working-class families, providing a stable demand for small-bay office and neighborhood retail. The ongoing redevelopment of 163rd Street Shopping Center is set to transform the immediate corridor. Planned improvements include the addition of over 21,000 square feet of new retail, a large-scale 150,000 square-foot entertainment and amusement center featuring indoor pickleball courts, and a newly designed 20,000 square-foot food hall. The property offers immediate in-place cash flow with significant near-term upside, as all tenants are currently operating on month-to-month leases at below-market rents of approximately $8-9/SF Net. This lease structure provides flexibility to reposition the asset, mark rents to market levels in the $23–$26/SF Net range, restructure lease terms, or curate a stronger tenant mix to drive long-term value. It is suitable for investors seeking yield and owner-users looking for flexibility in a supply-constrained North Miami submarket.