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No Tenant Specified

Value Add Mixed Use Retail

1417 Washington Ave, Miami Beach, FL 33139

Listing Price: $3,250,000

Cap Rate
0.66%
Tenant Name
MTM
Guarantor
No Guarantee
Rentable SF
6,261
Lease Type
Absolute Net
Rent Per Square Feet
$3.43

Investment Overview

Marcus & Millichap is pleased to present for sale this 6,261 square foot retail
property located at 1417 Washington Avenue in South Beach, Florida. South
Beach is a vibrant area in Miami Beach known for its beaches, nightspots and
celebrity-chef eateries. Nearby is Lincoln Road Mall, a pedestrian shopping
strip which attracts thousands of visitors from around the world each year.
Ocean Drive is well known for its well-preserved art deco architecture and
outdoor cafes.
The zoning is CD-2, Commercial Medium Intensity District, provides for
commercial activities, services, offices and related activities which serve the
entire city. This zoning code allows up to 50 feet in height (Link to zoning details
on Page 3). The month-to-month tenant covers the current expenses letting a
developer or end user go through planning and permitting with minimal out of
pocket holding expenses.
South Beach is known for its walkability, yet Washington Avenue still boasts
over 20,200 vehicles per day. Within walking distance are Gianni’s, Bagatelle,
Byblos, Mac’s Club Deuce as well as many more casual restaurants. Blocks
away are Loews Miami Beach, The Ritz-Carlton South Beach, SLS South Beach,
The Betsy Hotel, and Clevelander South Beach.
Numerous apartment complexes surround this property including Balmoral
Apartments with 423 rented condo units, Lulva Square with 140 rented units,
727 Collins Apartments, Blackstone Apartments, Fernwood Apartments, and
many, many more.
The MacArthur Parkway, Venetian Way and Interstate 195 allow easy access to
Downtown Miami, Edgewater, Wynwood, and Midtown Miami. The property is
less than 13 miles from Miami International Airport.

Investment Highlights

  • Mixed Use Retail Property Located at 1417 Washington Avenue South Beach, Florida
  • Population within 3 Miles Exceeds 58,000 People with Average Household Income Over $119,000 Per Year
  • A Few minutes From the Property is Miami-Dade College Wolfson Campus with 92,085 Enrolled Students and FIU College of Business with 58,000 Enrolled Students
  • Mount Sinai Hospital with 589 Beds Serving the Miami-Beach and South Beach Community is Located Nearby this Property
  • Florida is a No Income Tax State

Exclusively Listed By

Financing By

No Tenant Specified

Value Add Mixed Use Retail

Listing Price: $3,250,000

Cap Rate
0.66%
Tenant Name
MTM
Guarantor
No Guarantee
Rentable SF
6,261
Lease Type
Absolute Net
Rent Per Square Feet
$3.43

Investment Highlights

  • Mixed Use Retail Property Located at 1417 Washington Avenue South Beach, Florida
  • Population within 3 Miles Exceeds 58,000 People with Average Household Income Over $119,000 Per Year
  • A Few minutes From the Property is Miami-Dade College Wolfson Campus with 92,085 Enrolled Students and FIU College of Business with 58,000 Enrolled Students
  • Mount Sinai Hospital with 589 Beds Serving the Miami-Beach and South Beach Community is Located Nearby this Property
  • Florida is a No Income Tax State

Investment Overview

Marcus & Millichap is pleased to present for sale this 6,261 square foot retail property located at 1417 Washington Avenue in South Beach, Florida. South Beach is a vibrant area in Miami Beach known for its beaches, nightspots and celebrity-chef eateries. Nearby is Lincoln Road Mall, a pedestrian shopping strip which attracts thousands of visitors from around the world each year. Ocean Drive is well known for its well-preserved art deco architecture and outdoor cafes. The zoning is CD-2, Commercial Medium Intensity District, provides for commercial activities, services, offices and related activities which serve the entire city. This zoning code allows up to 50 feet in height (Link to zoning details on Page 3). The month-to-month tenant covers the current expenses letting a developer or end user go through planning and permitting with minimal out of pocket holding expenses. South Beach is known for its walkability, yet Washington Avenue still boasts over 20,200 vehicles per day. Within walking distance are Gianni’s, Bagatelle, Byblos, Mac’s Club Deuce as well as many more casual restaurants. Blocks away are Loews Miami Beach, The Ritz-Carlton South Beach, SLS South Beach, The Betsy Hotel, and Clevelander South Beach. Numerous apartment complexes surround this property including Balmoral Apartments with 423 rented condo units, Lulva Square with 140 rented units, 727 Collins Apartments, Blackstone Apartments, Fernwood Apartments, and many, many more. The MacArthur Parkway, Venetian Way and Interstate 195 allow easy access to Downtown Miami, Edgewater, Wynwood, and Midtown Miami. The property is less than 13 miles from Miami International Airport.

Exclusively Listed By

Financing By

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