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… Read More $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. Read Less
Courtesy of Ben Brissi, BHHS EWM Realty 305-674-4000
Listing Snapshot
Days Online
214
Last Updated
Property Type
Retail
Square Ft.
7,762
Lot Size
0.17 Acres
Year Built
1925
MLS Number
A11956142
30 Days Snapshot Of 33139
$1.71M
+140%
(avg) sold price
32
-54%
homes sold
148
0%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Road frontage type: State Road
Building
Built in 1925, Toal building area: 7762, 4 total units
Lot
0.17 acres
Property
Zoning: 6400
Sewer
Public Sewer
Taxes
Annual amount: $55,361
Tenant Pays
Electricity, Interior Electric
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