1558 Alton Rd Miami Beach, FL 33139
Retail
MLS #: A11956142
Courtesy Of BHHS EWM Realty
Property InformationDescription
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.
Features
- Age: Over 50 Years Old
- Legal Description: 33-34 53 42 COMMERCIAL SUB PB 6-5 LOT 2 BLK 66 LOT SIZE 50.000 X 150 OR 15773-1882 1292 5
- MLSID: A11956142
MAP & DIRECTIONS
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