Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1650 Miami Gardens Dr North Miami Beach, FL 33179
    Back to Search
    Property profile & analytics

    1650 Miami Gardens Dr, North Miami Beach, FL 33179

    View on Map
    • Retail properties & Spaces
    • 286,682 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1650 Miami Gardens Dr

    Property type
    Retail properties & Spaces

    Description

    The Shops at Skylake presents a unique opportunity for retailers seeking high-traffic locations in Miami-Dade County. This established retail center boasts a total of 286,682 square feet and features six suites, with 6,969 square feet currently vacant. Spaces range from a minimum of 975 square feet to a maximum contiguous space of 2,455 square feet, offering flexibility for various business needs. The center enjoys an exceptional location on Miami Gardens Drive, a major thoroughfare connecting I-95 to the prosperous Aventura area, ensuring high visibility and accessibility. This strategic positioning contributes to the impressive annual foot traffic of 3,877,777 visitors. The Shops at Skylake already houses a strong tenant mix including well-known national brands such as Publix, TJ Maxx, LA Fitness, Pasteur Medical Center, and Goodwill, creating a vibrant and attractive shopping destination. This established center offers a proven track record and a strong foundation for new businesses to thrive. The available space provides an excellent opportunity to join a successful retail community in a high-demand area. Contact us today to learn more about leasing opportunities and secure your space in this thriving retail center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    North Miami Beach
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.168
    Latitude
    25.9444

    Comparable in this City

    • Value Estimation by Request

      North Miami Blvd

      Medical Office Space
      0 North Miami Blvd, Miami, FL 33179
      View Details
    • Value Estimation by Request
      286,682 SF

      1650 Miami Gardens Dr

      Retail properties & Spaces
      1650 Miami Gardens Dr, North Miami Beach, FL 33179
      View Details
    • Value Estimation by Request
      67,855 SF

      20855 16Th Ave

      Distribution properties
      20855 16Th Ave, Miami, FL 33179
      View Details
    • Value Estimation by Request

      Wine & Beer Distributor Business For Sale

      Restaurants
      0 Wine & Beer Distributor Business For Sale, Miami, FL 33179
      View Details
    • Value Estimation by Request

      601 Federal Hwy

      Retail properties & Spaces
      601 Federal Hwy, Miami, FL 33179
      View Details
    • Value Estimation by Request

      189Th Ter

      Manufacturing properties
      0 189Th Ter, Miami, FL 33179
      View Details

    Similar Nearby for Sale

    • $39,000

      Hair Extension & Wig Salon

      Profitable, fully equipped salon specializing in hair extensions and wigs.
      1576 NE 205Th Ter, Miami, FL 33179
      View Details
    • $1,900,000

      North Miami Industrial Land Sale

      Prime Industrial Land: I-95 Access, Gated
      500 185Th St, Miami, FL 33179
      View Details
    • Contact for pricing

      Move-in Ready Flex Office Space

      Renovated flex office space with 24/7 access in Miami-Dade.
      20199 NE 16Th Pl, Miami, FL 33179
      View Details
    • Contact for pricing
      7,244 SF

      Flex-Office Condo for Sale

      7,244 SF flex-office condo available near I-95.
      20157 NE 16Th Pl, Miami, FL 33179
      View Details
    • Contact for pricing
      901 SF

      Aventura Commercial Kitchen Opportunity

      Turnkey, FDA-certified commercial kitchen in Aventura, ready for immediate use.
      20354 NE 16Th Pl, Miami, FL 33179
      View Details
    • Contact for pricing
      2,000 SF

      Upgraded Warehouse and Office Space

      Warehouse and office space available for purchase.
      20129 NE 16Th Pl, Miami, FL 33179
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail and Industrial Space Available

      146,600 SqFt single tenant retail and industrial space for rent.
      199501-19599 NE 10Th Ave, Miami, FL 33179
      View Details
    • Contact for pricing
      20,700 SF

      Retail Space Near Hard Rock

      Retail space near Hard Rock Stadium with high traffic.
      850 Ives Dairy Rd, Miami, FL 33179
      View Details
    • Contact for pricing
      2,800 SF

      Retail Space in Skylake Center

      Retail space available in a busy, anchored shopping center.
      1580-1790 NE Miami Gardens Dr, Miami, FL 33179
      View Details
    • Contact for pricing
      1,789 SF

      Retail Space on Miami Gardens

      Retail space available on a major road near Aventura.
      1690-1692 Ne Miami Gardens Dr, Miami, FL 33179
      View Details
    • Contact for pricing
      7,500 SF

      Warehouse Space in Business Park

      Industrial warehouse space available for lease in Miami, Florida.
      20201-20289 NE 15Th Ct, Miami, FL 33179
      View Details
    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.
    1650 Miami Gardens Dr
    North Miami Beach, FL 33179
    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

    Thank You for Inquiry
    1650 Miami Gardens Dr, North Miami Beach, FL, 33179
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!