Multi-Tenant Retail
5655 Northwest 195th Drive Miami Gardens, FL 33055
5655 Northwest 195th Drive, Miami Gardens, FL, 33055
Contact for pricing
For Sale
Contact for pricing
8,968-square-foot, 11-bay retail building configured for eight tenants with 24 surface parking spaces and BU-2 zoning.
Property Size8,968 SF
Lot Size0.53 Acres
Price / SF$156.11
Days on Market72
Property Features for 5655 Northwest 195th Drive
General Information
- Standard status
- Active
- Size
- 8,968 SF
- Lot size
- 0.53 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1986
Listing agency
Marcus & Millichap
(786) 522-7089
Listed by
Jonathan De La Rosa · License #SL3639184
Source
Crexi
Added: May 12 Updated: Jul 22 at 1:23AM Checked: Jul 22 at 1:23AM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
Marcus & Millichap is pleased to present a fully stabilized multi-tenant retail asset at 5655 Northwest 195th Drive in Miami Gardens, Florida. Built in 1986, the 8,968-square-foot property is demised into 11 physical bays and is currently configured to accommodate eight retail tenants, supporting 7,821 square feet of net leasable area. The current income structure is based on gross leases, producing $144,000 in annual rental income, with a stated 6.51% capitalization rate on $91,178 in current Net Operating Income.
The site includes 24 surface parking spaces and is zoned BU-2. The asset is situated on a 23,096-square-foot parcel and offers an established multi-tenant retail layout designed for neighborhood-serving occupancy.
The site includes 24 surface parking spaces and is zoned BU-2. The asset is situated on a 23,096-square-foot parcel and offers an established multi-tenant retail layout designed for neighborhood-serving occupancy.
Key Highlights
- Fully stabilized multi‑tenant retail building built in 1986
- 8,968 SF retail building on a 23,096 SF parcel with 11 physical bays
- Configured for eight retail tenants with 7,821 SF net leasable area
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $164.7k | $18.36 |
| − Vacancy | −$9.1k | −$1.01 |
| EGI | $155.6k | $17.35 |
| − OpEx | −$46.7k | −$5.21 |
| NOI | $108.9k | $12.15 |
8,968 SF · lease $18.36/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.56M
$1.36M – $1.82M
NOI $108,918 @ 7.0% cap · market cap 7.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.67M
$2.34M – $3.11M
NOI $186,893 @ 7.0% cap · market cap 13.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Strip malls
Similar For Sale Nearby
FAQs
What type of property is this?
Strip mall - 8,968-square-foot, 11-bay retail building configured for eight tenants with 24 surface parking spaces and BU-2 zoning.
Where is this strip mall located?
The property is located at 5655 Northwest 195th Drive Miami Gardens, FL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Fully stabilized multi‑tenant retail building built in 1986; 8,968 SF retail building on a 23,096 SF parcel with 11 physical bays; Configured for eight retail tenants with 7,821 SF net leasable area
