Shopping Strip
487 NE 167th St
487 NE 167th St, Miami, FL 33162
Listing Price: $3,500,000
Investment Overview
Marcus & Millichap is pleased to exclusively offer the sale of 487-499 NE 167th St & 16760 NE 5th Ave, North Miami Beach, FL 33162
The property consists of 2 retail buildings with a gross leasable area of 10,100 square feet and combined lot size of 18,934 square feet. There are a total of 12 bays across the 2 buildings, 2 of which are currently vacant.
The property presents a unique opportunity for an investor to acquire an under-rented asset in the heart of North Miami Beach with significant upside potential.
The property can benefit from the immediate re-leasing of vacant bays at market rents along with multiple below market leases soon to expire.
The property sits on the busy NE 167th St retail corridor with average daily traffic counts of 60,500 vehicles. The surrounding area consists of an array of major national retailers, employers, family housing, with nearby developments soon to follow.
487 NE 167th St
Investment Highlights
- 10,100 sq ft retail strip with 12 bays, 2 of which are vacant
- Landlord is reimbursed for all operating expenses except insurance and taxes
- Under-rented asset with significant upside potential
- Located on NE 167th St with daily traffic counts of over 60,000 vehicles
Exclusively Listed By
Financing By
Listing Price: $3,500,000
Investment Highlights
- 10,100 sq ft retail strip with 12 bays, 2 of which are vacant
- Landlord is reimbursed for all operating expenses except insurance and taxes
- Under-rented asset with significant upside potential
- Located on NE 167th St with daily traffic counts of over 60,000 vehicles
Investment Overview
Marcus & Millichap is pleased to exclusively offer the sale of 487-499 NE 167th St & 16760 NE 5th Ave, North Miami Beach, FL 33162 The property consists of 2 retail buildings with a gross leasable area of 10,100 square feet and combined lot size of 18,934 square feet. There are a total of 12 bays across the 2 buildings, 2 of which are currently vacant. The property presents a unique opportunity for an investor to acquire an under-rented asset in the heart of North Miami Beach with significant upside potential. The property can benefit from the immediate re-leasing of vacant bays at market rents along with multiple below market leases soon to expire. The property sits on the busy NE 167th St retail corridor with average daily traffic counts of 60,500 vehicles. The surrounding area consists of an array of major national retailers, employers, family housing, with nearby developments soon to follow.
Exclusively Listed By
Financing By
