1558 Alton Rd, Miami Beach, FL 33139
- $5,000,000
- List Price
- $5,000,000
- MLS#
- A11956142
- Lot Size
- 7,500
- Subtype
- Retail
- County
- Miami-Dade
- Community
- Not Found
- Year Built
- 1925
Property Description
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.
/u.realgeeks.media/susanjpennrealtor/LOGO_400_x_86.png){kind=logo}
Additional Information
- Status Label
- ACTIVE
- Total Unitsin Complex
- 4
- Boat Service
- Building & Land
- Lot Description
- City Location
- Taxes
- $55,361
- Boat Services
- Building & Land
Mortgage Calculator
Listing Courtesy Of BHHS EWM Realty, Contact: