NNN Mixed-Use Retail
For Sale
$11,600,000
4355 W 16th Ave, Hialeah, FL 33012
Mixed-use NNN retail center with 100% tenant-paid operating expenses and 95% occupancy across 20 tenant suites.
Property Size32,362 SF
Price / SF$358.45
Days on Market57
Property Features for 4355 W 16th Ave
General Information
Standard status
Active
Size
32,362 SF
Property subtype
Commercial
Occupancy
95%
Building Details
Year Built
1984
Tenancy
Multi
Listing Agency:
Trustpoint realty llc
(754) 736-0335
Listed By:
Andres Villarreal · License #3606293
(754) 736-0335
Source:
Elliman
Added: Jun 17
Changed: Jul 10
Last Checked: Aug 11 at 10:15AM
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 Trustpoint realty llc
Investment Insights
Based on property information with market context.
The property is a mixed-use, 32,362 SF NNN retail center offered for sale with 20 tenants in place. Overall occupancy is reported at 95%, with 19 tenants occupied and 1 tenant vacant. The center is described as having 100% NNN leases, with the operating expense structure designed so the landlord has zero expense responsibility.
Operating costs are paid directly by tenants, including taxes, insurance, and CAM. Public remarks also note a value-add component tied to rent levels: 17 of 20 tenants are below the stated $35/SF market rate. Walk, bike, and transit scores are provided as walkScore 56, bikeScore 48, and transitScore 36.
For buyers seeking a largely hands-off NNN retail holding, the stated structure can simplify expense management, since taxes, insurance, and CAM are billed directly to tenants. The current mix includes both occupied and one vacant unit, with leasing status reflected in the 95% occupancy figure provided. This offering is also positioned around the rent-rate variance noted in the remarks, where the majority of tenants are below the market rate figure cited.
Operating costs are paid directly by tenants, including taxes, insurance, and CAM. Public remarks also note a value-add component tied to rent levels: 17 of 20 tenants are below the stated $35/SF market rate. Walk, bike, and transit scores are provided as walkScore 56, bikeScore 48, and transitScore 36.
For buyers seeking a largely hands-off NNN retail holding, the stated structure can simplify expense management, since taxes, insurance, and CAM are billed directly to tenants. The current mix includes both occupied and one vacant unit, with leasing status reflected in the 95% occupancy figure provided. This offering is also positioned around the rent-rate variance noted in the remarks, where the majority of tenants are below the market rate figure cited.
Key Highlights
- 32,362 SF mixed‑use retail center built in 1984
- 95% occupancy with 20 tenant suites (19 occupied, 1 vacant)
- 100% NNN leases with taxes, insurance, and CAM paid direct by tenants
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
$562,710
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
4.85%
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%
$11,254,200
$11.3M
Cap Rate 7%
$8,038,714
$8.0M
Cap Rate 9%
$6,252,333
$6.3M
Market Conditions
NOI Build-Up for 32,362 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
$873.8K $27.00/SF
− Vacancy
−$69.9K −$2.16/SF
EGI
$803.9K $24.84/SF
− OpEx
−$241.2K −$7.45/SF
NOI
$562.7K $17.39/SF
Area
Hialeah, FL
Vacancy
8.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$11,254,200
Cap Rate 7%
$8,038,714
Cap Rate 9%
$6,252,333
Alternative Uses
Best Use
Retail
$8.04M
$7.03M – $9.38M
NOI $562,710 @ 7.0% cap · market cap 4.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.74M
$11.15M – $14.86M
NOI $891,638 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
95%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,048
Businesses Nearby
424k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Shops & Services 23%
Apparel 23%
Home Improvements & Furnishings 2%
Burlington
Apparel
55,416 visits/mo
0.3 miles
Outback Steakhouse
Dining
42,375 visits/mo
0.5 miles
Golden Corral
Dining
28,990 visits/mo
0.3 miles
Marshalls
Apparel
28,663 visits/mo
0.2 miles
Wendy's
Dining
22,046 visits/mo
0.4 miles
Demographics for 33012, FL
70,260
Population
25,923
Households
2.7
Avg Household Size
48
Median Age
18%
College-Educated
72%
High-School Grad
5.9 sq mi
ZIP Area
11,908
Density / Sq Mi
$45,818
Median Household Income
$32,039
Median Earnings
$1,562
Median Rent
$355,600
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?
Shopping center - Mixed-use NNN retail center with 100% tenant-paid operating expenses and 95% occupancy across 20 tenant suites.
Where is this shopping center located?
The property is located at 4355 W 16th Ave Hialeah, FL.
What is the asking price?
The asking price for this property is $11,600,000.
What are key features of this property?
This property features: 32,362 SF mixed‑use retail center built in 1984; 95% occupancy with 20 tenant suites (19 occupied, 1 vacant); 100% NNN leases with taxes, insurance, and CAM paid direct by tenants
