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Mixed-Use

Alton Road Development Opportunity

824 Alton Rd, Miami Beach, FL 33139

Listing Price: $10,800,000

Lot Size
0.41 acres
Price/Acre
$26,136,000
Land Type
Redevelopment
Buildable Square Feet
36,000

Investment Overview

Marcus & Millichap is pleased to present 824 Alton Road, in Miami Beach, Florida. The property is located on Alton Road a few blocks north of 5thStreet/MacArthur Causeway, which is the primary Miami Beach ingress and egress point. The subject property consists of 18,000 SF of land and is currently operating as a Covid-19 testing site. On the heels of a major re-construction, Alton Road has emerged as the “Main Street” and premier thoroughfare of South Beach. Several new developments have been completed or are under way. To name a few, a Baptist Health Medical Complex, a new Marriott and Kimpton hotel, as well as 1212 Lincoln Road which is a high-end multi-level mixed use project. 1212 Lincoln Rd is situated at the base of the new CitizenM Hotel and has 59,000 SF of retail space with opportunities of all sizes, 17,000 SF of outdoor space, and 400+ parking spaces. The Miami Beach construction pipeline has ramped up recently, following years of minimal supply additions. Starwood Capital recently completed its new 144,000 SF headquarters in early 2022. Just south of the property, The Park on Fifth is underway which will include a 3-acre park donated to the city, a pedestrian bridge over Fifth Street at the gateway to South Beach, and a 48-story luxury residential tower. To the north of the subject property, CitizenM Miami Beach Hotel is under construction and will feature 168 upscale rooms.

Investment Highlights

  • CD-2 Zoning –Maximum of 36,000 Buildable SF for Mixed-Use
  • Flexible Zoning Allows For Multiple Land Uses
  • One Block Away From the New Baptist Health Center
  • Down the Street from The Park on Fifth Development
  • Strong Demand for New Class A Office
  • High Visibility Location Just North of 5thSt/MacArthur Causeway
  • Rare Opportunity to Acquire Vacant Alton Road Development Parcel
  • Frontage on Alton Road –28,000+ Vehicles Per Day

Exclusively Listed By

Financing By

Mixed-Use

Alton Road Development Opportunity

Listing Price: $10,800,000

Lot Size
0.41 acres
Price/Acre
$26,136,000
Land Type
Redevelopment
Buildable Square Feet
36,000

Investment Highlights

  • CD-2 Zoning –Maximum of 36,000 Buildable SF for Mixed-Use
  • Flexible Zoning Allows For Multiple Land Uses
  • One Block Away From the New Baptist Health Center
  • Down the Street from The Park on Fifth Development
  • Strong Demand for New Class A Office
  • High Visibility Location Just North of 5thSt/MacArthur Causeway
  • Rare Opportunity to Acquire Vacant Alton Road Development Parcel
  • Frontage on Alton Road –28,000+ Vehicles Per Day

Investment Overview

Marcus & Millichap is pleased to present 824 Alton Road, in Miami Beach, Florida. The property is located on Alton Road a few blocks north of 5thStreet/MacArthur Causeway, which is the primary Miami Beach ingress and egress point. The subject property consists of 18,000 SF of land and is currently operating as a Covid-19 testing site. On the heels of a major re-construction, Alton Road has emerged as the “Main Street” and premier thoroughfare of South Beach. Several new developments have been completed or are under way. To name a few, a Baptist Health Medical Complex, a new Marriott and Kimpton hotel, as well as 1212 Lincoln Road which is a high-end multi-level mixed use project. 1212 Lincoln Rd is situated at the base of the new CitizenM Hotel and has 59,000 SF of retail space with opportunities of all sizes, 17,000 SF of outdoor space, and 400+ parking spaces. The Miami Beach construction pipeline has ramped up recently, following years of minimal supply additions. Starwood Capital recently completed its new 144,000 SF headquarters in early 2022. Just south of the property, The Park on Fifth is underway which will include a 3-acre park donated to the city, a pedestrian bridge over Fifth Street at the gateway to South Beach, and a 48-story luxury residential tower. To the north of the subject property, CitizenM Miami Beach Hotel is under construction and will feature 168 upscale rooms.

Exclusively Listed By

Financing By

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