16400 W Dixie Hwy

13,937 SF Retail Building North Miami Beach, FL 33160 $8,800,000 ($631/SF) 3% Cap Rate

Executive Summary

This property consists of two corner lots at the intersection of W. Dixie Hwy. & NE 164th Street. It is the North Miami Beach Branch U.S. Post Office and employee parking lot, the same single tenant for over 70 years. Surrounded by historical landmarks, NE 164th St. is also named Hanford Blvd., in honor of Lenore Hanford, whose father was one of the City's most influential pioneers when the 1920's community was known as Fulford-by-the-Sea. Hanford Blvd. is the signature main street for Fulford City Center, which is being developed as the new civic, cultural and retail heart of North Miami Beach.

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
13,937 SF
Building Class
C
Year Built
1953
Price
$8,800,000
Price Per SF
$631
Cap Rate
3%
NOI
$264,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
1.41 AC
Zoning
B-2 - Business
Parking
50 Spaces (3.59 Spaces per 1,000 SF Leased)
Frontage
95 FT on 164th St

Amenities

  • Bus Line
  • Fenced Lot

MAJOR TENANTS Click Here to Access

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • Transportation and Warehousing
  • -
  • $9.99
  • Lorem Ipsum
  • Jan 0000

The United States Postal Service has a storied history as the institution of their Government guaranteeing safe and secure communication among and between the Government and the American people. Many are familiar with their history, which began with the Second Continental Congress and Benjamin Franklin in 1775 and continued in 1787 when the Postal Clause of the U.S. Constitution empowered Congress to establish post offices and post roads. Congress exercised those powers with the passage of The Post Office Act of 1792, which made the Postal Service a permanent fixture of the Federal Government. The Act included provisions to facilitate freedom of the press, the privacy of personal correspondence, and expand the nation’s physical infrastructure, all vital to their nation’s growth and prosperity.

Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
Transportation and Warehousing - $9.99 Lorem Ipsum Jan 0000
Walk Score®
Very Walkable (89)
Bike Score®
Very Bikeable (79)

Nearby Major Retailers

HOTWORX
Regions Bank
Boston Market
Checkers
Valley National Bank
Planet Fitness
Truist
CrossFit
Houston's
Morton's, The Steak House

PROPERTY TAXES

  • Listing ID: 32246750

  • Date on Market: 6/25/2024

  • Last Updated:

  • Address: 16400 W Dixie Hwy, North Miami Beach, FL 33160