Mixed-Use Retail
For Sale
Contact for pricing
510 NE 167th St 510, Miami, FL 33162
Infill retail center with mixed-use store/residential zoning on a 24,960 SF lot.
Property Size6,200 SF
Lot Size0.57 Acres
Price / SF$0.56
Days on Market194
Property Features for 510 NE 167th St 510
General Information
Standard status
Active
Size
6,200 SF
Lot size
0.57 Acres
Property subtype
Commercial
Zoning
1211 Mixed Use-Store/Residential: Retail Outlet and More
Lease Term
1 to 3 years
Additional Details
Traffic Count
64,000 vehicles/day
Taxes and HOA fees
Annual Taxes
$42,456
Building Details
Building Size
6,200 SF
Year Built
1971
Stories
1
Listing Agency:
FL Prime LLC
Listed By:
Tomas Furman · License #BK3366332
(786) 232-3640
Source:
Elliman
Added: Apr 11
Changed: Oct 19
Last Checked: Oct 20 at 9:45PM
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 FL Prime LLC
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Investment Insights
Based on property information with market context.
A 6,200 +/- square foot retail center set on a 24,960 square foot lot, presented for sale as an infill commercial asset. The property is described as located within the 167th Street retail corridor, in the heart of North Miami Beach, Florida.
The offering notes a combined traffic count of 64,000+ vehicles per day and states that the Miami-Dade submarket is supported by historically low vacancy rates, with 211,000 people within three miles of the subject property. Surrounding national retailers listed in the remarks include Home Depot, Walmart Supercenter, Aldi, Ross, and multiple quick-service and shopping brands such as McDonald’s, Taco Bell, Burger King, Popeyes, Starbucks, Bank of America, Chase Bank, AutoZone, Krispy Kreme, Pep Boys, Walgreens, CVS, Wawa, and Publix. The property is identified as zoned 1211 Mixed Use-Store/Residential: Retail Outlet and More.
The offering notes a combined traffic count of 64,000+ vehicles per day and states that the Miami-Dade submarket is supported by historically low vacancy rates, with 211,000 people within three miles of the subject property. Surrounding national retailers listed in the remarks include Home Depot, Walmart Supercenter, Aldi, Ross, and multiple quick-service and shopping brands such as McDonald’s, Taco Bell, Burger King, Popeyes, Starbucks, Bank of America, Chase Bank, AutoZone, Krispy Kreme, Pep Boys, Walgreens, CVS, Wawa, and Publix. The property is identified as zoned 1211 Mixed Use-Store/Residential: Retail Outlet and More.
Key Highlights
- 6,200+/- SF retail center on a 24,960 SF lot in North Miami Beach’s 167th Street retail corridor
- Highly trafficked location with a combined traffic count of 64,000+ vehicles per day
- Zoned 1211 mixed use—store/residential
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$202,279
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,045,580
$4.0M
Cap Rate 7%
$2,889,700
$2.9M
Cap Rate 9%
$2,247,544
$2.2M
Market Conditions
NOI Build-Up for 6,200 SF
Gross rent
$322.2K $51.96/SF
− Vacancy
−$33.2K −$5.35/SF
EGI
$289.0K $46.61/SF
− OpEx
−$86.7K −$13.98/SF
NOI
$202.3K $32.63/SF
Area
Miami, FL
Vacancy
10.30%
Lease Rate
$51.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,045,580
Cap Rate 7%
$2,889,700
Cap Rate 9%
$2,247,544
Alternative Uses
Best Use
Retail
$2.89M
$2.53M – $3.37M
NOI $202,279 @ 7.0% cap · market cap 5,795.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.19M
$3.66M – $4.88M
NOI $292,953 @ 7.0% cap · market cap 8,394.07%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
64,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,862
Businesses Nearby
Under-served
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Miami, FL
Similar Off Market Nearby
- Amazon — 470 NE 164th Terrace, North Miami Beach, FL 33162
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- San Francisco Shopping Center — north miami beach, fl 33162
Frequently Asked Questions
What type of property is this?
Shopping center - Infill retail center with mixed-use store/residential zoning on a 24,960 SF lot.
Where is this shopping center located?
The property is located at 510 NE 167th St 510 Miami, FL.
What are key features of this property?
This property features: 6,200+/- SF retail center on a 24,960 SF lot in North Miami Beach’s 167th Street retail corridor; Highly trafficked location with a combined traffic count of 64,000+ vehicles per day; Zoned 1211 mixed use—store/residential
