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    12699 6 Ave North Miami, FL 33161

    Sponsored
    For Sale
    $1,995,000

    Prime QSR, high traffic, redevelopment potential.

    Property size:
    2,400 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 2,400 square foot Pizza Hut restaurant located at 12699 NE 6th Ave, North Miami, FL 33161, on a 0.2-acre lot. The property boasts a highly visible, hard corner location in a high-traffic area with over 66,000 cars passing daily. Currently operating under a single-tenant, absolute NNN lease with Pizza Hut, the lease commenced October 20, 2000, and expires October 20, 2030, with 5.9 years remaining. The lease includes a five-year option with a 10% rent increase in October 2025. The current rent is well below market value at $16.98 per square foot. Built in 1979 and renovated in 2021, the property features 2,104 net rentable square feet and 6 parking spaces. The C-3 zoning allows for redevelopment potential, making this an attractive opportunity for long-term investors. The property is surrounded by national tenants including Publix, CVS, Walgreens, and 7-Eleven, and is conveniently located near North Miami Middle and Senior High Schools, the Museum of Contemporary Art, and City government offices. The asking price is $1,995,000 ($831.25 per square foot). This property benefits from strong demographics, with 179,877 people within a 3-mile radius. Two neighboring parcels are also available for off-market purchase.

    Property Features for 12699 6 Ave

    General Information

    Property type
    Restaurants
    Square Feet
    2,400 SF
    Lot Size
    8,712 SF

    Building Details

    Year Built/Renovated
    1979/2021
    Units
    1

    HighLights

    • 2,400 SF Pizza Hut restaurant on a 0.2‑acre lot at 12699 NE 6th Ave, North Miami, FL 33161.
    • High‑traffic corner location with over 66,000 cars passing daily.
    • NNN lease with Pizza Hut expiring October 2030 (5.9 years remaining), with a 5‑year option and 10% rent increase in 2025.
    • Current rent is $16.98/SF, below market value; asking price is $1,995,000 ($831.25/SF).
    • 2,104 net rentable SF, 6 parking spaces, C‑3 zoning allowing redevelopment.
    Property Profile Location Intelligence

    Current Use by Public Records

    Pizza Hut Pizza Restaurant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    North Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.186504914724
    Latitude
    25.891807115145

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    FAQs

    What type of property is this?
    Restaurant - Prime QSR, high traffic, redevelopment potential.
    Where is this restaurant located?
    The property is located at 12699 6 Ave North Miami, FL.
    What is the asking price?
    The asking price for this property is $1,995,000.
    What are key features of this property?
    This property features: 2,400 SF Pizza Hut restaurant on a 0.2-acre lot at 12699 NE 6th Ave, North Miami, FL 33161.; High-traffic corner location with over 66,000 cars passing daily.; NNN lease with Pizza Hut expiring October 2030 (5.9 years remaining), with a 5-year option and 10% rent increase in 2025.
    (561) 504-4482
    Request Owner's contact information
    12699 6 Ave North Miami, FL 33161
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    North Miami, FL 33161
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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
    12699 6 Ave North Miami, FL 33161
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