Taco Bell in North Miami Beach sells for $2.45M

Taco Bell at 1650 Northeast 163rd Street and Fabio Faerman
Taco Bell at 1650 Northeast 163rd Street and Fabio Faerman

A Taco Bell in North Miami Beach sold for $2.45 million, or 847,750 Crunchwrap Supremes, The Real Deal has learned.

A foreign buyer purchased the 2,259-square-foot building at 1650 Northeast 163rd Street, according to Fabio Faerman, of Fortune International/FA Commercial. Faerman represented the buyer.

RCCS Investments Corp., a Miami-based company, was the seller. The single-story building was constructed in 1988, according to Miami-Dade County property records. It last sold for $1.5 million in 2012 and sits on a 32,205-square-foot lot.

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“With the strong demographics and economic/employment trends continuing in South Florida, real estate fundamentals have shown strong improvement along Miami-Dade County,” Faerman said in a statement. “International investors are looking for business opportunities like this. This is a prime location with a great franchise, Taco Bell restaurant which has grown a total of 5 percent over the last three years.”

A number of commercial properties in North Miami Beach have sold recently, including an office building along Northeast 167th Street for $5.6 million; and an apartment portfolio also along Northeast 167th Street and Northeast 173rd Street for $28 million.