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.

Location

Listed By

Listing Agent

Ben Brissi

ben@brissigroup.com

561-870-2211

BHHS EWM Realty

Co-Listing Agent

Zachary Joslin

zach@brissigroup.com

561-222-5240

BHHS EWM Realty

Print Details

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Listing Office: BHHS EWM Realty

Attribution contact: 561-870-2211