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    16685 2Nd Ave Miami, FL 33169

    Sponsored
    For Sale
    $3,800,000

    High-yield, corporate-guaranteed retail investment.

    Property size:
    2,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a fee-simple interest in a ±2,200 square foot, single-tenant retail building situated on a 0.29-acre lot in Miami, Florida. The property is currently 100% occupied by Curaleaf Holdings, Inc., a leading multi-state cannabis operator, under a Net Lease (NN+) agreement with minimal landlord responsibilities. The lease, commencing March 31, 2018, and expiring March 31, 2028, has approximately 3.4 years remaining, with a 3% annual rent increase and options for lease extensions (1 and 5-year options). The building, constructed in 2008 and extensively renovated in 2017, features 20 parking spaces and is zoned BU-2 (Business District). The property boasts a strong location on a corner lot with high visibility, directly fronting a major thoroughfare with over 61,500 vehicles per day, and situated near the Golden Glades Interchange, providing easy access to major highways. The property offers a compelling 6.03% cap rate with a Net Operating Income (NOI) of $229,258 and an asking price of $3,800,000 ($1,727.27 per square foot). This presents a rare opportunity for a passive income investment with a credit-rated, corporate-guaranteed tenant and exceptional underlying real estate fundamentals in a rapidly developing Miami submarket. The property's location at the gateway to North Miami Beach and the 167th Street Corridor offers significant long-term growth potential.

    Property Features for 16685 2Nd Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    2,200 SF
    Lot Size
    12,632 SF

    Building Details

    Year Built/Renovated
    2008/2017
    Buildings
    1
    Stories
    1

    HighLights

    • Fee‑simple ownership of a ±2,200 square foot, single‑tenant retail building on a 0.29‑acre lot in Miami, FL.
    • Net‑leased to Curaleaf Holdings, Inc., a leading multi‑state cannabis operator, minimizing landlord responsibilities.
    • High‑visibility corner location on NE 167th St (61,500+ VPD), one block from the Golden Glades Interchange.
    • Corporate‑guaranteed lease with a publicly traded company, providing a secure income stream.
    Property Profile Location Intelligence

    Current Use by Public Records

    Curaleaf Cannabis Store Curaleaf Dispensary North ... Cannabis Store

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2041346
    Latitude
    25.9274746

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    FAQs

    What type of property is this?
    Individual retail property - High-yield, corporate-guaranteed retail investment.
    Where is this individual retail property located?
    The property is located at 16685 2Nd Ave Miami, FL.
    What is the asking price?
    The asking price for this property is $3,800,000.
    What are key features of this property?
    This property features: Fee-simple ownership of a ±2,200 square foot, single-tenant retail building on a 0.29-acre lot in Miami, FL.; Net-leased to Curaleaf Holdings, Inc., a leading multi-state cannabis operator, minimizing landlord responsibilities.; High-visibility corner location on NE 167th St (61,500+ VPD), one block from the Golden Glades Interchange.
    Request Owner's contact information
    16685 2Nd Ave Miami, FL 33169
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    Miami, FL 33169
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    16685 2Nd Ave Miami, FL 33169
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