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Property profile & analytics
OFF-MARKET
Estimated value
$900,000
Outlet malls
16798 Miami Ave North Miami Beach, FL 33169-6033
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-3171267
Property summary
AI-generated overview
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.
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1965
Construction
CONCRETE
Total area
2,016 SF
Lot
0.17 ac (7,540 SF)
Zoning code
6400:COMMERCIAL,CENTRAL
APN
07-2113-007-2010
UPID
US18-3171267
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · 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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$900k
CAP Approach
CAP
$1.01M
Comparable Approach
Comparable
$856k
Blend (final)
Blend
$900k
Owner & transaction history
Rk 16798 LLC · 1 yrs held
Rk 16798 LLC
since 2024
Last sale
$900,000
1 recorded transaction
Zoning & alternative use
6400:COMMERCIAL,CENTRAL · North Miami Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.5M
+29.2%
Auto repair, garage
$1.3M
+14.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs North Miami Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Miami Beach submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$900,000
ML approach
$900,000
CAP Approach
CAP Return
Estimation
6%
$1,095,000
6.5%
$1,010,000
7%
$940,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,155,000
Current use
COMMERCIAL (GENERAL)
$1,490,000
Change: +29% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,320,000
Change: +14% · Conversion: Difficult
Blend value · Realmo final
$900k
Range $810k – $990k · ±10% · vs last sale $900k (Sep 13 2024)
Last sale anchor
$900k
Sep 13 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$446 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$6,764
Tax year 2023
Assessed value
$316,435
Assessed 2023
Previous assessed
$316,435
+0.0% YoY
Effective rate
2.14%
On assessed value
Assessed land
$203,580
Assessed improvement
$112,855
Land market value
$203,580
Improvement market value
$112,855
Total market value
$316,435
Applied tax rate
700.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1965
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
2,016 SF
Lot
0.17 ac (7,540 SF)
Zoning code
6400:COMMERCIAL,CENTRAL
APN
07-2113-007-2010
UPID
US18-3171267
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6400:COMMERCIAL,CENTRAL · North Miami Beach, FL
Zoning 6400:COMMERCIAL,CENTRAL · permitted uses
6400:COMMERCIAL,CENTRAL · North Miami Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Miami Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.3M
RETAIL STORES Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1965
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.17 ac
Current owner
From public records · entity-resolved
Rk 16798 LLC
Entity
Mailing address
17749 N COLLINS AVE, SUNNY ISLES BEACH, FL 33160-4693
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 13, 2024
$900,000
Rk 16798 LLC
Matuli INC
Warranty Deed
$500,000 · Tropical Financial Cu
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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