12985-12997 W Dixie Hwy - Storefront FOR SALE


North Miami, FL 33161
$2,000,000 USD
305-856-2600
12985-12997 W Dixie Hwy, North Miami, FL for Sale
$2,000,000 USD
Storefront - FOR SALE
1/8
null | 6.18% Cap Rate

12985-12997 W Dixie Hwy
North Miami, FL 33161


HIGHLIGHTS

  • 100% Occupancy with Built-in Growth: The retail center is currently fully leased to long-term tenants, but all are paying under-market rent
  • Significant "Upside" Potential: All current tenants are paying below-market rents
  • Strategic High-Visibility Location: Situated on a 7,742 Sq. Ft. corner lot along the high-traffic W Dixie Highway corridor

OVERVIEW

A premier opportunity to acquire a fully stabilized, 100% occupied Class B retail center situated on the high-traffic W Dixie Highway corridor in North Miami. Priced at $2,000,000, this asset represents a "value-add" play where the value is not found in heavy construction, but in immediate rental upside. All seven storefronts are occupied by long-term tenants currently paying below-market rents, providing a guaranteed path to increased Net Operating Income (NOI) as leases renew through 2028. Property Condition & Specifications The building consists of approximately ± 5,900 SF of rentable space on a 7,742 Sq.Ft. corner lot. It features durable concrete-block construction and has been exceptionally well-maintained, notably boasting a brand-new roof and central individual air conditioning for each unit. • Zoning: BU-1A (Limited Business District), allowing for a wide range of commercial uses. • Infrastructure: Serviced by public water and sanitation. • Parking: Ample front-facing parking with prime visibility and signage along a major commercial artery. Financial Performance & "Upside" Narrative The property is a high-efficiency investment with minimal landlord responsibilities, limited primarily to real estate taxes (13,687/yr)**andinsurance,totalingapproximately**38,000 in annual operating expenses. The investment is currently positioned with a strong entry yield that scales significantly: • Current State: Generating **144,000inannualrent**fora**5.3106,000 NOI). • Stabilized Potential: Projected 7.0% Cap Rate ($139,000 NOI). • Market Potential: Fully adjusted market rents could yield an 8.7% Cap Rate, pushing the NOI to $174,400. This financial progression makes the asset particularly attractive for 1031 Exchange investors seeking a stable "safe-haven" property with built-in growth. Strategic Location & Market Context Located at 12985 W Dixie Hwy, the property sits in one of Miami’s fastest-growing submarkets. This high-visibility retail corridor serves as a vital link connecting Downtown Miami, Miami Shores, and Aventura. The site benefits from excellent accessibility to I-95 and Biscayne Blvd, placing it in the path of ongoing residential and retail redevelopment that continues to drive long-term property appreciation and population density.

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$380 USD /SF

CAP RATE

6.18%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Convenience Store, Restaurant, Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1956

SPRINKLERS

-

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,742 SF

ZONING

C-2, North Miami

APN/PARCEL ID

06-2230-006-0550

ASK ABOUT THIS PROPERTY

Monica Hurtado PAFortune Christies International Real EstateMore Info
305-856-2600

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Monica Hurtado PAFortune Christies International Real EstateMore Info
305-856-2600

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.