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- LoopNet Team
1421 NE 163rd St
North Miami Beach, FL 33162
Mall at 163rd · Land For Sale
·
24.13 AC
INVESTMENT HIGHLIGHTS
- Positioning between existing fully leased outparcels and high performing Home Depot and Walmart provide an in-place ammenity base for future residents
- Opportunity to densify site with up to 4 additional pads along 163rd street
- Ross is the only long-term lease encumbrance in the enclosed mall providing significant space and flexibility for redevelopment
- Prime mixed-use opportunity that could be developed into a multitude of uses including multi-family, retail, medical, and more across several phases.
- Existing parking structure could potentially be utilized for multi-family development eliminating the need to build new structured parking
- In-place income generated by existing outparcel tenants and Ross will offset entitlement and pre-development costs
PROPERTY FACTS
| Property Type | Land | Proposed Use | Retail |
| Property Subtype | Commercial | Total Lot Size | 24.13 AC |
| Zoning | BU-2 - BU-2 - Special Business District. This zoning designation is designed to encourage mixed-use construction. | ||
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Retail |
| Total Lot Size | 24.13 AC |
| Zoning | BU-2 - BU-2 - Special Business District. This zoning designation is designed to encourage mixed-use construction. |
DESCRIPTION
Avison Young is pleased to exclusively offer for sale the Mall at 163rd (“the Property”), featuring an enclosed mall and outparcels spanning approximately 342,435 square feet across three parcels, totaling approximately 24.13 acres of prime land. Strategically located on NE 163rd St, the Property boasts exceptional connectivity, facilitated by its proximity to the Golden Glades interchange to the west and Biscayne Boulevard to the east. The Property benefits from its central location in a burgeoning submarket of Miami-Dade County that continues to witness incredible revitalization with increasingly strong market fundamentals. Moreover, the Property showcases an extensive and promising developable footprint, offering a myriad of possibilities for repositioning and development through several strategic avenues. Existing, high quality, outparcel buildings are leased to credit tenants at below market rates providing stable and immediate cash flow. The in-place income, significant developable footprint, and ideal location in one of the nation’s most sought-after markets present investors with a compelling opportunity. They can contemplate the prospect of redeveloping the existing mall structure into a vast mixed-use development while also considering the strategic options of retaining or divesting the outparcels.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,236,846 | |
| Land Assessment | $14,142,240 | Total Assessment | $39,167,486 |
PROPERTY TAXES
