16798 Miami AveNorth Miami Beach, FL 33169

  • Retail properties
  • 2,016 SF
For Sale
$1,499,000 View listing

Property Details for 16798 Miami Ave

Year built
1965
Construction
CONCRETE
Lot size
0.17 AC
Property size (Sq ft)
2,016 SF
Zone code
6400:COMMERCIAL,CENTRAL
Property type
Retail properties
Property subtype
Outlet malls
APN
07-2113-007-2010
APU
721130072010

Description

This exceptional investment opportunity presents a fully leased, single-tenant convenience store in North Miami Beach, Florida. The 2,016 square foot building, situated on a substantial 7,500 square foot lot, is currently operating at 100% occupancy under a triple-net (NNN) lease with a remaining term of four years and rent bumps included. Built in 1965 and extensively renovated in 2023, the property boasts a new roof, grease trap, and AC system, minimizing future capital expenditures. The B-2 zoned property offers ample parking with 10 spaces and benefits from its high-visibility location in a prime North Miami Beach area, ensuring consistent rental demand. The expansive lot size presents potential for future expansion or redevelopment, adding significant long-term value. This turnkey investment is ideal for those seeking immediate cash flow and minimal management responsibilities, and is suitable for 1031 exchange transactions. The property address is 16798 N Miami Ave, North Miami Beach, FL 33169, within Miami-Dade County. The asking price is $1,499,000.

Valuation
by Realmo methods

Valuation date:
Dec 11, 2024

  • CAP approach

    CAP return
    Valuation
    6%
    $797,198
    6.5%
    $735,876
    7%
    $683,313

  • Comparable approach

    Method
    Valuation
    Relative Method
    $716,528
    Geo Method
    $716,528

  • Alternative Use

    Use
    Valuation
    Residential
    $620,738
    Hospitality
    $568,593
    Educational
    $473,063
    Medical
    $489,332
    Retail
    $735,876
16798 Miami Ave, North Miami Beach, Florida
+−
Leaflet | © OpenStreetMap contributors

Location Insight

City
North Miami Beach
County
Miami-dade
State
Florida
Latitude
25.9289
Longitude
-80.2007
CBSA code
33100
CBSA name
MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$6,764
$203,580
$112,855
$316,435
-
$203,580
$112,855
$316,435

Comparable in this City

Similar Nearby for Sale

Similar Nearby for Lease

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16798 Miami Ave, North Miami Beach, Florida, 33169

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Disclaimer

The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.

We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.

By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.

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