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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1949 163 St North Miami Beach, FL 33162

    • Outlet malls
    • 3,535 SF
    • 0.16 lot acres
    For Lease
    View listing
    Last Sale
    Jul 29, 2021
    $3,528,000
    Value Estimations
    $3,460,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0317243
    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.

    Current Use by Public Records

    • Outlet malls

    Property Details for 1949 163 St

    Year built
    1955
    Construction
    CONCRETE
    Lot size
    0.16 lot acres
    Property size
    3,535 SF
    Zone code
    6400:COMMERCIAL,CENTRAL
    Property type
    Outlet malls
    APN
    07-2216-001-0760
    APU
    722160010760

    Description

    This exceptional freestanding retail building in North Miami Beach, Florida, offers 3,535 square feet of versatile space, ideal for multiple tenants. Currently, 2,200 square feet is available, divisible into units as small as 1,100 square feet, with a maximum contiguous space of 2,300 square feet. Located at 1949 NE 163rd St, 33162, this single-story building sits on a 0.161-acre lot and boasts 53 feet of frontage on a high-traffic street with approximately 48,400 vehicles passing daily. The property is zoned MU/TC and includes 10 parking spaces, ensuring convenient access for customers and employees. Its prime location near major thoroughfares and public transportation provides excellent visibility and accessibility. The surrounding area features a thriving mix of businesses and amenities, creating a dynamic commercial environment. This is a fantastic opportunity for businesses seeking high visibility and convenient access in a bustling North Miami Beach location. The property is perfect for retail, restaurant, office, showroom, or gym uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,775,000
      ML approach
      $4,695,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,459,000
      Market price range: $966k - $2.61M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,615,000
      AUTO REPAIR, GARAGE
      $2,310,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.161
    Latitude
    25.9264
    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
    $23,936
    $665,000
    $538,800
    $1,203,800
    -
    $665,000
    $538,800
    $1,203,800

    Comparable in this City

    • Value Estimation
      $3,770,000
      16,500 SF

      770 167th St

      WHOLESALE OUTLET, DISCOUNT STORE • 16,500 SF
      770 167th St, Miami, FL 33162-2403
      View Details
    • Value Estimation
      $3,270,000
      11,385 SF

      2090 163rd St

      WHOLESALE OUTLET, DISCOUNT STORE • 11,385 SF
      2090 163rd St, North Miami Beach, FL 33162-4902
      View Details
    • Value Estimation
      $990,000
      3,252 SF

      1242 163rd St

      WHOLESALE OUTLET, DISCOUNT STORE • 3,252 SF
      1242 163rd St, North Miami Beach, FL 33162-4637
      View Details
    • Value Estimation
      $1,410,000
      4,902 SF

      1360 163rd St

      WHOLESALE OUTLET, DISCOUNT STORE • 4,902 SF
      1360 163rd St, North Miami Beach, FL 33162-4623
      View Details
    • Value Estimation
      $1,935,000
      5,162 SF

      1760 163rd St

      WHOLESALE OUTLET, DISCOUNT STORE • 5,162 SF
      1760 163rd St, North Miami Beach, FL 33162-4733
      View Details
    • Value Estimation
      $1,285,000
      5,477 SF

      16699 19th Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 5,477 SF
      16699 19th Ave, North Miami Beach, FL 33162-3149
      View Details

    Similar Nearby for Sale

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      Turnkey Boba Tea Shop Opportunity

      Boba tea shop in North Miami Beach with loyal clientele.
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      Freestanding Building on NE 163rd

      2,529 SF building with high visibility and flexible layout.
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      Profitable Smoke Shop Opportunity

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      Turn-key home remodeling and decor business with verifiable income.
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    • $3,900,000
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      Prime North Miami Beach Retail Gem

      12,000 SF, 3 Units, High Traffic
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    • Contact for pricing

      Retail/Service Space on Busy Corridor

      900 SF retail/service space with high visibility and ample parking.
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    Similar Nearby for Lease

    • $3,000 /Mo

      Move-in Ready Retail Space Available

      Refreshed 1300 SF retail space in North Miami Beach.
      15330 W Dixie Hwy, North Miami Beach, FL 33162
      View Details
    • $0.06 SF/Yr
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      North Miami Beach Retail Gem

      Prime Retail Space, 6,406 SF, 14 Parking Spaces
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      View Details
    • $34 SF/Yr

      North Miami Beach Retail/Office Space

      2,888 SF vacant retail/office space available for lease.
      16350 NE 12Th Ave, Miami, FL 33162
      View Details
    • $34 SF/Yr

      North Miami Beach Office/Retail Space

      2,888 SF vacant office/retail shell space available for lease.
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      View Details
    • $18 SF/Yr
      3,050 SF

      Miami Restaurant Space - 3050 SF

      Turnkey Restaurant, Prime Miami Location. Flexible Lease Terms.
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      View Details
    • Contact for pricing
      3,535 SF

      North Miami Beach Retail Space

      Freestanding building, high traffic, flexible space.
      1949 163 St, North Miami Beach, FL 33162
      View Details
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    North Miami Beach, FL 33162
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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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