Boutique Liquor Retail
For Sale
Contact for pricing
602 NE 167th St, Miami, FL 33162
Operating beverage retailer with a curated selection, established customer ratings, and on-site parking.
Property Size3,500 SF
Price / SF$600
Days on Market134
Property Features for 602 NE 167th St
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Business for Sale
Listing Agency:
The Cardenas Group
(786) 309-5407
Listed By:
Carlos Cardenas · License #3052090
Source:
Crexi
Added: Apr 20
Changed: Aug 30
Last Checked: Aug 30 at 9:52AM
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 The Cardenas Group
Investment Insights
Based on property information with market context.
This 3,500-square-foot retail space operates as a boutique liquor and wine store offering spirits, wine, and specialty beverages. The merchandise mix includes everyday selections such as vodka, bourbon, and red wine alongside harder-to-find bottles. The premises feature a clean, stylish interior and a professional retail environment supported by knowledgeable staff.
Located at 602 NE 167th St, Miami, FL 33162, the property has strong visibility and ample parking. The business website features more than 230 customer reviews with a 5-star average. Existing operations also include a broad curated product assortment and an established retail presentation.
Located at 602 NE 167th St, Miami, FL 33162, the property has strong visibility and ample parking. The business website features more than 230 customer reviews with a 5-star average. Existing operations also include a broad curated product assortment and an established retail presentation.
Key Highlights
- 3,500 SF retail space operating as a liquor and wine store
- Product mix includes spirits, wine, and specialty beverages
- Everyday and hard‑to‑find bottles offered across the merchandise selection
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
$114,190
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
5.44%
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%
$2,283,800
$2.3M
Cap Rate 7%
$1,631,286
$1.6M
Cap Rate 9%
$1,268,778
$1.3M
Market Conditions
NOI Build-Up for 3,500 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
$181.9K $51.96/SF
− Vacancy
−$18.7K −$5.35/SF
EGI
$163.1K $46.61/SF
− OpEx
−$48.9K −$13.98/SF
NOI
$114.2K $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 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%
$2,283,800
Cap Rate 7%
$1,631,286
Cap Rate 9%
$1,268,778
Alternative Uses
Best Use
Retail
$1.63M
$1.43M – $1.90M
NOI $114,190 @ 7.0% cap · market cap 5.44%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.36M
$2.07M – $2.76M
NOI $165,377 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,741
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 Retail in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Operating beverage retailer with a curated selection, established customer ratings, and on-site parking.
Where is this retail space located?
The property is located at 602 NE 167th St Miami, FL.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 3,500 SF retail space operating as a liquor and wine store; Product mix includes spirits, wine, and specialty beverages; Everyday and hard‑to‑find bottles offered across the merchandise selection
