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 BHHS EWM Realty, Ben Brissi, 305-674-4000.
Listing Snapshot
Days Online
141
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
$925k
-23%
(avg) sold price
22
+214%
homes sold
167
+42%
(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"
Find The Perfect Home
'VIP' Listing Search
Whenever a listing hits the market that matches your criteria you will be immediately notified.
All listings featuring the BMLS logo are provided by BeachesMLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed.
Confirm your time
Fill in your details and we will contact you to confirm a time.
