1428-1438 Alton Rd - Freestanding FOR SALE


Miami Beach, FL 33139
$15,000,000 USD
786-522-7009
1428-1438 Alton Rd, Miami Beach, FL for Sale
$15,000,000 USD
Freestanding - FOR SALE
1/9
null | 7.22% Cap Rate

1428-1438 Alton Rd
Miami Beach, FL 33139


HIGHLIGHTS

  • Rare Miami Beach Medical Marijuana Dispensary
  • Building Completely Renovated by the Tenant Showing Strong Commitment to the Location
  • NNN Lease With 5% Annual Increases-Hedging Against Inflation
  • Oversized Corner Lot With Plenty of Parking and Future Development Potential
  • High Barrier of Entry Market and Cannabis Dispensary Use-Location Has Intrinsic Value as All Sites on Miami Beach are Taken
  • 250 Ft Linear Feet of Frontage on Alton Road and 14th Court

OVERVIEW

Marcus & Millichap is pleased to present the opportunity to acquire a prime commercial property located at 1428 Alton Road, Miami Beach. This asset is subject to a NNN lease with Sunburn Cannabis Dispensary that features rare, five percent annual rental increases throughout the base and option terms. This property is situated on an oversized corner lot with excellent visibility and access coming from the north or south. It’s convenient, on-site parking lot is located behind the building. Being one of the larger lots you’ll see on Miami Beach and with its favorable CD-2 zoning, it has strong residual value and significant development potential.

FOR SALE DETAILS

PRICE

$15,000,000 USD

PRICE/SF

$2,042 USD /SF

CAP RATE

7.22%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1940

SPRINKLERS

-

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

14,810 SF

ZONING

CD-2

APN/PARCEL ID

02-3234-018-0700

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.