12699 6 Ave North Miami, FL 33161
- Turn key restaurants
- 2,400 SF
- 0.20 lot acres
Current Use by Public Records
- Pizza Hut / Pizza Restaurant / Chicken Wings Restaurant
Property Details for 12699 6 Ave
- Year built
- 1979
- Construction
- CONCRETE
- Lot size
- 0.20 lot acres
- Property size
- 2,400 SF
- Zone code
- 6600:COMMERCIAL,LIBERAL
- Property type
- Turn key restaurants
- APN
- 06-2230-007-0430
- APU
- 622300070430
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,130,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $895,000
- 6.5%
- $895,000
- 7%
- $935,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $835,000
- Geo Method
- $1,030,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $940,000
- Retail
- $1,015,000
- Mixed-Use
- $985,000
- Hospitality
- $985,000
- Educational
- $1,060,000
- Residential Income
- $850,000
- Energy
- $895,000
- Income-Based Land
- $1,165,000
- Food Service
- $990,000
Location Insight
- Map
- Local Demand
- City
- North Miami
- County
- Miami-dade
- State
- Florida
- Longitude
- -80.1862
- Latitude
- 25.8919
- CBSA code
- 33100
- CBSA name
- MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
