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    12255 16th Ave North Miami, FL 33161-6509

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    12255 16th Ave North Miami, FL 33161-6509

    View on Map
    • Banks
    • 4,268 SF
    • 0.43 lot acres
    Off-Market
    Last Sale Mar 4, 2025
    $2,500,000
    Property ID
    US18-1960234
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $2,145,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 12255 16th Ave

    Year built
    1975
    Construction
    CONCRETE
    Lot size
    0.43 lot acres
    Property size
    4,268 SF
    Zone code
    6201:COMMERCIAL
    Property type
    Banks
    APN
    06-2229-086-0010
    APU
    622290860010

    Description

    This freestanding 3,099 square foot retail building in North Miami, Florida, presents a unique investment opportunity. Previously a bank, the property boasts a double-lane drive-thru and ATM, situated on a highly visible 0.43-acre corner lot. The C-2 zoning allows for a variety of uses. The building enjoys excellent access from NE 16th Avenue, offering significant visibility and convenience. This strategic location at the intersection of two major thoroughfares, Biscayne Boulevard and NE 123rd Street, benefits from a combined daily traffic count of 80,856 vehicles. The property is surrounded by a strong concentration of national retailers, including The Home Depot, Whole Foods, Publix, Ross, T.J. Maxx, LA Fitness, Pet Supermarket, Starbucks, Wendy's, and McDonald's, ensuring high foot traffic and brand recognition. The entire 3,099 square feet is currently vacant and ready for immediate occupancy. Located in Miami-Dade County, with a 33161 zip code, this property offers exceptional potential for a variety of businesses seeking a high-traffic, easily accessible location in a thriving retail environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,500,000
      ML approach
      $1,500,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,714,000
      Market price range: $1.50M - $4.80M

    • Alternative Use

      Use
      Estimation
      FINANCIAL BUILDING
      $2,810,000
      Current use
      COMMERCIAL (GENERAL)
      $3,155,000
      Change: +12% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,790,000
      Change: -1% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    North Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1659
    Latitude
    25.8887
    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
    $32,333
    $1,596,385
    $309,488
    $1,905,873
    -
    $1,596,385
    $309,488
    $1,905,873

    Comparable in this City

    • Value Estimation by Request
      1,140 SF

      10852 Biscayne Blvd

      FINANCIAL BUILDING • 1,140 SF
      10852 Biscayne Blvd, Miami, FL 33161
      View Details
    • Value Estimation
      $575,000
      5,396 SF

      12655 6th Ave

      FINANCIAL BUILDING • 5,396 SF
      12655 6th Ave, North Miami, FL 33161-4710
      View Details
    • Value Estimation by Request
      5,433 SF

      13450 Dixie Hwy

      FINANCIAL BUILDING • 5,433 SF
      13450 Dixie Hwy, North Miami, FL 33161-4137
      View Details
    • Value Estimation
      $670,000
      4,635 SF

      10760 Biscayne Blvd

      FINANCIAL BUILDING • 4,635 SF
      10760 Biscayne Blvd, Miami, FL 33161-7456
      View Details
    • Value Estimation by Request
      36,980 SF

      860 125Th St

      Individual retail properties • 36,980 SF
      860 125Th St, North Miami, FL 33161
      View Details
    • Value Estimation by Request

      806 125Th St

      Individual retail properties
      806 125Th St, North Miami, FL 33161
      View Details

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      Renovated Restaurant with Patio Seating

      Move-in-ready restaurant with patio, meat market in stable neighborhood.
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    Similar Nearby for Lease

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      Mixed-Use Building in North Miami

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      Retail Space in North Miami

      Retail space available for lease in North Miami, Florida.
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      North Miami Retail Space Available

      Retail space for rent in North Miami, Florida.
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    • Contact for pricing
      800 SF

      North Miami Retail/Office Space

      Located in the heart of North Miami on busy 125th.
      927-955 NE 125Th Ter, North Miami, FL 33161
      View Details
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    12255 16th Ave
    North Miami, FL 33161-6509
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    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
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    12255 16th Ave, North Miami, FL, 33161

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