1640 164 St North Miami Beach, FL 33162

This fully occupied, 9,234 square foot retail strip center in North Miami Beach, FL presents a compelling investment opportunity. The property features five tenants in six bays, all currently leased at below-market rates, offering significant upside potential through future rent increases. Boasting a 100% occupancy rate and a current NOI of $225,418, the property shows a 5.64% cap rate with a pro-forma cap rate of 8.03%. Situated on a 21,000 square foot lot in a high-traffic corridor near Biscayne Boulevard and I-95, the center benefits from excellent visibility and convenient access. The property is located within the Town Center District, an area undergoing revitalization with favorable zoning allowing for mixed-use and higher-density development, presenting potential for future expansion or redevelopment. Built in 1972, the single-story building offers 22 parking spaces. The property is zoned B-2 and features a modified gross lease type. This is a rare opportunity to acquire a stable, high-performing retail investment with substantial value-add potential. The asking price is $4,000,000.