Investment Overview

Marcus & Millichap is proud to market 325 71st Street, a, 3,034 square foot two-story restaurant property located on busy 71st Street just West of Collins Avenue in the heart of the North Beach section of Miami Beach, Florida. The property sits on 2,275 square feet of land and is home to East Ocean Chinese & Sushi restaurant. The tenant has a short-term month-to-month lease which allows for an investor or a user to remove the tenant at any time to either occupy the space or lease to a new tenant. This is a rare opportunity to purchase a single tenant built out restaurant building in a dynamic and growing section of Miami Beach. North Beach, historically a more casual section of Miami Beach, is seeing a residential and commercial rebirth with multiple large hotels and multi-family developments under construction or in the permitting process. Currently, over 844 apartments are either under construction or in the permitting process within 0.2 miles of the subject property. The large migration of New York and California residents has resulted in more density and more high net worth residents in the North Beach market. This new wealthy demographic has resulted in demand for more retail and restaurant properties to support the community. 325 71st street is in a perfect location for an investor to renovate and capitalize on the restaurant infrastructure within the existing property.