North Miami Beach Retail/Office
For Sale
$750,000
16921 NE 6th Ave, North Miami Beach, FL 33162
Freestanding 1,900 SF retail/office building in mixed-use district.
Property Size1,894 SF
Lot Size0.16 Acres
Days on Market271
Property Features for 16921 NE 6th Ave
General Information
Standard status
Active
Size
1,894 SF
Lot size
0.16 Acres
Property subtype
Commercial
Lease Term
1 to 3 years
Taxes and HOA fees
Annual Taxes
$4,178
Building Details
Building Size
1,894 SF
Year Built
1954
Stories
1
Listing Agency:
Coldwell Banker Realty
(305) 785-5044
Listed By:
Claudia Levy
(305) 785-5044
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 8 at 1:01PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This freestanding retail/office building offers approximately 1,900 square feet of space on a 7,150 square foot lot. It is located within the Mixed-Use International Boulevard zoning district of North Miami Beach, which allows for varied commercial, residential, or mixed-use development. The property benefits from high visibility on NE 6th Avenue, situated just half a mile from I-95. Parking is available in the front of the building, with gated parking provided in the rear. The property is currently leased through November 30, 2025.
Key Highlights
- Mixed‑use zoning offers varied development opportunities.
- High visibility location on NE 6th Ave providing excellent exposure.
- Proximity to I‑95, located just 1/2 mile away ensuring easy access.
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
$50,200
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
6.69%
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%
$1,004,000
$1.0M
Cap Rate 7%
$717,143
$717.1K
Cap Rate 9%
$557,778
$557.8K
Market Conditions
NOI Build-Up for 1,894 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
$86.4K $45.60/SF
− Vacancy
−$19.4K −$10.26/SF
EGI
$66.9K $35.34/SF
− OpEx
−$16.7K −$8.84/SF
NOI
$50.2K $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%
$1,004,000
Cap Rate 7%
$717,143
Cap Rate 9%
$557,778
Alternative Uses
Best Use
Office B
$717.1K
$627.5K – $836.7K
NOI $50,200 @ 7.0% cap · market cap 6.69%
Second Best
Retail
$457.5K
$400.3K – $533.8K
NOI $32,026 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$960.9K
$840.8K – $1.12M
NOI $67,263 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 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?
Retail space - Freestanding 1,900 SF retail/office building in mixed-use district.
Where is this retail space located?
The property is located at 16921 NE 6th Ave North Miami Beach, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Mixed‑use zoning offers varied development opportunities.; High visibility location on NE 6th Ave providing excellent exposure.; Proximity to I‑95, located just 1/2 mile away ensuring easy access.
