1558 Alton Rd, Miami Beach FL 33139
Miami Beach, FL 33139
$5,000,000
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- Price
- $5,000,000
- Building size
- 7,762
- Property type
- Retail
- Year built
- 1925
- Lot size (sq ft)
- 7,500
- MLS number
- A11956142
This listing is courtesy of BHHS EWM Realty, 305-674-4000.
About this property
Prime South Beach commercial opportunity on the west side of Alton Road, one of the area’s most visible and heavily trafficked corridors. 4-unit building totaling approx. 7,762 SF on a 7,500 SF lot as well as on-site parking for tenants. Currently 50% occupied with a ±1,400 SF frame shop paying $6,000/month and a ±2,800 SF language school paying $5,000/month. Current leases are below market. Two additional ground-floor spaces are vacant: a ±1,400 SF Alton Road–fronting retail unit and a ±2,100 SF rear space (formerly a flower shop). Pro-forma gross income approx. $367,500 annually; at market rents, income supports an attractive projected cap rate above 7% at stabilization, and incredible find in Miami Beach. CD-2 zoning allows future redevelopment up to ±15,522 SF and 60’ height.
Details
- Property type
- Retail
- Year built
- 1925
- Lot size (sq ft)
- 7,500
Location
Listing information is deemed reliable but is not guaranteed accurate by MIAMI REALTORS®.
Newmar Brokerage, LLC