1100-1122 15th St - Storefront FOR SALE


Miami Beach, FL 33139
$6,400,000 USD
786-522-7009
1100-1122 15th St, Miami Beach, FL for Sale
$6,400,000 USD
Storefront - FOR SALE
1/8
null | 5.78% Cap Rate

1100-1122 15th St
Miami Beach, FL 33139


HIGHLIGHTS

  • Rare Small Bay Retail Center In Miami Beach
  • Three Of Six Bays Are F&B/Restaurant Space With Strong Residual Value And Demand
  • Scheduled 3-5% Annual Rental Increases
  • Short Term Leases Allowing For Near Term Value Creation
  • Two Hundred Five Feet Of Linear Frontage With Forty-Five Foot Bay Depths-Ideal For Tenants And Maximizing Future Rent Potential
  • Tenant Mix Caters To The Needs Of Locals And Tourists Alike

OVERVIEW

Marcus & Millichap is pleased to present the opportunity to acquire a prime commercial property located at 1100 15th Street, Miami Beach. This asset is anchored by award winning, Via Emilia 9 Italian Restaurant. The asset also is home to five other tenants, two of which are food and beverage operators, as well as three other neighborhood retail tenants. Being in close proximity to Lincoln Road Mall, the tenant mix caters to the needs of locals as well as tourists. The landlord friendly NNN leases feature 3-5% annual rent increases and only one tenant has a renewal option which provides the opportunity for near term value creation on the part of the landlord.

FOR SALE DETAILS

PRICE

$6,400,000 USD

PRICE/SF

$962 USD /SF

CAP RATE

5.78%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1100 15th Street

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1945

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,276 SF

ZONING

CD-1

APN/PARCEL ID

02-3234-018-0680

ASK ABOUT THIS PROPERTY

Scott SandelinThe Sandelin GroupMore Info
786-522-7009

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Scott SandelinThe Sandelin GroupMore Info
786-522-7009

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.