NMB 7 Shops
5,000 SF | 86% Leased | Retail Building | North Miami Beach, FL 33162 | $2,900,000 ($580/SF) | 6.21% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,900,000
- Property Type
-
Retail
- Square Feet
- 5,000 SF
- Price / Square Foot
- $580
Listing Contacts
David Etzion
Verified Profile
- Property Info
Property Overview
This property is a unique Seven Shops Community Strip Mall in the center of North Miami Beach, Florida.
It is located on the SW corner of NE 19th Avenue and NE 170th Street, North Miami Beach, the only corner not occupied by the City complex.
North Miami Beach Building Department is just across NE 170th Street to the North.
North Miami Beach Auditorium and the City Hall are just across NE 19th Avenue to the East.
North Miami Beach Fire Department and North Miami Beach Police Department are just a stone’s throw away.
The seven shops include a Hair Salon, a Cosmetology Salon, a Skincare Salon, a Building Contractor Office, a Smoke Shop, and a Women’s Apparel Shop.
This is a fantastic opportunity for an Owner-Manager who can devote a few hours daily to managing the property and looking after the seven existing tenants.
Such an Owner-Manager will generate a high yearly positive cash flow while gaining a minimum annual property appreciation of 5%, generating a yearly wealth increase of more than 10%.
Due to the property’s location next to Aventura, Sunny Isle, and across the road from the North Miami Beach City Complex, a vast profit is expected when it becomes part of an anticipated mass redevelopment.
Offered by: Prime Realty Group Inc.
Email: [email protected]
It is located on the SW corner of NE 19th Avenue and NE 170th Street, North Miami Beach, the only corner not occupied by the City complex.
North Miami Beach Building Department is just across NE 170th Street to the North.
North Miami Beach Auditorium and the City Hall are just across NE 19th Avenue to the East.
North Miami Beach Fire Department and North Miami Beach Police Department are just a stone’s throw away.
The seven shops include a Hair Salon, a Cosmetology Salon, a Skincare Salon, a Building Contractor Office, a Smoke Shop, and a Women’s Apparel Shop.
This is a fantastic opportunity for an Owner-Manager who can devote a few hours daily to managing the property and looking after the seven existing tenants.
Such an Owner-Manager will generate a high yearly positive cash flow while gaining a minimum annual property appreciation of 5%, generating a yearly wealth increase of more than 10%.
Due to the property’s location next to Aventura, Sunny Isle, and across the road from the North Miami Beach City Complex, a vast profit is expected when it becomes part of an anticipated mass redevelopment.
Offered by: Prime Realty Group Inc.
Email: [email protected]
Property Details
- Class
- C
- Year Built/Renovated
- 1953/2010
- Stories
- 1
- Property Subtype
- Storefront Retail/Office, Storefront, Storefront Retail/Residential, Office/Residential
- Lot Size (sq. ft)
- 9,583 SF
Highlights
- Triple Net Leases. with a minimum of 5% rent increase yearly.
- Perfect for an owner-manager looking for a high positive cash flow while gaining a yearly property appreciation of over 5%.
- Great location next to Aventura, Sunny Isle and the North Miami Beach government complex.
- Zoning: MU/TC FULFORD MIXED USE TOWN CENTER.
- Seller Finance available.
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