Two-Building Single-Story Office
For Sale
$1,850,000
16811 NE 6th Avenue, North Miami Beach, FL
SINGLE_FAMILY - North Miami Beach, FL
Property Size3,068 SF
Lot Size0.16 Acres
Price / SF$602
Days on Market37
Property Features for 16811 NE 6th Avenue
General Information
Property type
Residential
Property subtype
Office
Zoning
4800
Parking
15
Security features
Security Lighting
Subdivision
2220
Standard status
Active
APN
0722070140310
Size
3,068 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
7 52 42 PB 53-75 1ST ADDN TO PANULETA GDNS LOT 30 BLK 5 LOT SIZE 65.000 X 110 OR 15983-2991 0793 2 (2) COC 26027-3701 10 2007 5
Tax Annual Amount
21491
Legal Description
7 52 42 PB 53-75 1ST ADDN TO PANULETA GDNS LOT 30 BLK 5 LOT SIZE 65.000 X 110 OR 15983-2991 0793 2 (2) COC 26027-3701 10 2007 5
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1954
Floors in Building
1
Number of units
2
Flooring type
Concrete, Wood, Tile, Carpet
Building materials
Brick, Concrete
Roof type
Shingle
Listing Agency:
Compass Florida LLC
(561) 285-4794
Listed By:
Brad Kuskin · License #3333122
(561) 232-7899
Added: Jul 7
Changed: Aug 3
Last Checked: Aug 12 at 7:06PM
MLS# B26049816
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Two freestanding, renovated single-story office buildings are offered on contiguous parcels under one owner at 16811 NE 6th Avenue in North Miami Beach, Florida. The assemblage totals approximately 3,068 SF on roughly 14,300 SF of land, sold together. Construction includes brick and concrete, with a mix of flooring types including concrete, carpet, tile, and wood. Heating and cooling are provided by central systems, and the roof is shingled.
One building is delivered vacant, while the second is leased through June 2028. The lease includes a personal guarantee and a 60-day landlord termination right, providing flexibility for an owner-occupant or an income-focused hold.
The property is served by public water and public sewer and was built in 1954. Zoning is listed as 4800.
One building is delivered vacant, while the second is leased through June 2028. The lease includes a personal guarantee and a 60-day landlord termination right, providing flexibility for an owner-occupant or an income-focused hold.
The property is served by public water and public sewer and was built in 1954. Zoning is listed as 4800.
Key Highlights
- Two renovated freestanding single‑story office buildings on contiguous parcels totaling 3,068 SF
- Approximately 14,300 SF of land; sold together under one owner
- One building delivered vacant; second leased through June 2028 with personal guarantee
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
$81,317
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
4.40%
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%
$1,626,340
$1.6M
Cap Rate 7%
$1,161,671
$1.2M
Cap Rate 9%
$903,522
$903.5K
Market Conditions
NOI Build-Up for 3,068 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
$139.9K $45.60/SF
− Vacancy
−$31.5K −$10.26/SF
EGI
$108.4K $35.34/SF
− OpEx
−$27.1K −$8.84/SF
NOI
$81.3K $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%
$1,626,340
Cap Rate 7%
$1,161,671
Cap Rate 9%
$903,522
Alternative Uses
Best Use
Office B
$1.16M
$1.02M – $1.36M
NOI $81,317 @ 7.0% cap · market cap 4.40%
Second Best
Healthcare Medical
$577.5K
$505.3K – $673.7K
NOI $40,424 @ 7.0% cap · market cap 2.19%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $108,957 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
1,741
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Two renovated single-story offices on contiguous parcels, with central HVAC, public utilities, and one unit leased through June 2028.
Where is this office building located?
The property is located at 16811 NE 6th Avenue North Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Two renovated freestanding single‑story office buildings on contiguous parcels totaling 3,068 SF; Approximately 14,300 SF of land; sold together under one owner; One building delivered vacant; second leased through June 2028 with personal guarantee
