Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2660 NW 199th St Miami Gardens, FL 33056

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Drive-in restaurant in Miami Gardens, Florida, available for sale.

    Type:Retail
    Property size:
    3,054 SF
    Added:
    Nov 12, 2024
    Days on Market:
    522
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 2660 NW 199th St

    General Information

    Standard status
    Active
    Size
    3,054 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2014

    We can help!

    Listing Contact
    Jonathan De La Rosa
    Jonathan De La Rosa

    Listing agent Jonathan De La Rosa License #SL3639184

    Listing office Marcus & Millichap - Miami

    Listing date Nov 12, 2024

    Source Crexi

    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 - Miami

    Overview

    Miami Gardens Drive-In Restaurant

    This drive-in restaurant, located in Miami Gardens, Florida, has been a part of the Sonic franchise. Sonic, America’s Drive-In, has operated for over 60 years, offering made-to-order American classics and signature menu items. The franchisee group was established in 2016 and initiated construction on a Sonic Drive-In, which opened to the public on September 1, 2018. In 2019, the company acquired four additional locations in South Florida, allowing for favorable development agreements with Sonic Corporate and granting exclusive development rights over a significant portion of South Florida. The property size is 3,054 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Drive through restaurants

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami Gardens
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2457
    Latitude
    25.9489

    Nearby Similar for Sale

    • $430,000

      Miami Gardens Warehouse with Office

      Warehouse with office in a secure, well-maintained industrial park.
      20200 NW 2nd Ave, Miami Gardens, FL 33169
      View Details
    • $2,800,000

      Versatile Miami Gardens Commercial Property

      3,981 sq.ft. office/warehouse on 15,000 sq.ft. lot, flexible zoning.
      17121 NW 2nd Ct, Miami Gardens, FL 33169
      View Details
    • $1,600,000

      Miami Gardens Retail Strip Center

      Value-add opportunity with upside potential in Miami Gardens, Florida.
      3251 NW 183rd St, Miami Gardens, FL 33056
      View Details
    • $2,100,000

      High-Exposure Flex Industrial/Retail Asset

      Versatile property with industrial functionality and a strong retail component.
      16355 NW 27th Ave, Miami Gardens, FL 33054
      View Details
    • $150,000

      Turnkey Beauty Salon Business

      Turnkey beauty salon and supply business for sale.
      57th, Miami Gardens, FL 33055
      View Details
    • $2,650,000

      Miami Gardens Stand-Alone School Building

      Stand-alone building currently used as a private school for sale.
      4481 NW 167th St, Miami Gardens, FL 33055
      View Details
    • $7,399,999

      Miami Gardens Multifamily Investment Opportunity

      32-unit property with immediate cash flow and appreciation potential.
      18101 NW 7th Ave, Miami Gardens, FL 33169
      View Details
    • $6,000,000

      Updated Warehouse in Miami Gardens

      Commercial warehouse with heavy power, updated features, and excellent accessibility.
      17890 NW 29th Ct, Miami Gardens, FL 33056
      View Details
    • $8,975,000

      Miami Gardens Retail Center For Sale

      Retail center in Miami Gardens with high visibility and accessibility.
      19501 NW 2nd Ave, Miami Gardens, FL 33169
      View Details
    • $22,770

      Miami Gardens Event Space Opportunity

      Partially built-out kitchen and event space in Palmetto hotel.
      16805 NW 12th Ave, Miami Gardens, FL 33169
      View Details
    • $2,100,000
      8,000 SF

      High-Exposure Flex Industrial/Retail Asset

      Versatile property with industrial functionality and strong retail component.
      16355 NW 27th Ave, Miami Gardens, FL 33054
      View Details
    • $2,500,000

      Miami Gardens Shopping Center For Sale

      5,500 SF shopping center on 0.61 acres in Miami Gardens.
      2675 NW 207 Street, Miami Gardens, FL 33056
      View Details

    FAQs

    What type of property is this?
    Drive through restaurant - Drive-in restaurant in Miami Gardens, Florida, available for sale.
    Where is this drive through restaurant located?
    The property is located at 2660 NW 199th St Miami Gardens, FL.
    What is the asking price?
    The asking price for this property is $3,450,000.
    What are key features of this property?
    This property features: Established Sonic Drive‑In franchise with a 60+ year brand history.; Strategic acquisition of four additional locations in South Florida.; Exclusive development rights over a significant portion of South Florida.
    (786) 522-7000 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jonathan De La Rosa
    Jonathan De La Rosa
    Real Estate License ID: SL3639184
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!