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Miscellaneous

Sunburn Miami Beach-Brand New Store-10 Year Tenant Commitment

1428 Alton Rd, Miami Beach, FL 33139

Listing Price: $15,000,000

Cap Rate
7.22%
Tenant Name
Sunburn Cannabis
Years Remaining On Lease
9.5
Guarantor
Corporate Guarantee
Rentable SF
7,344
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$147.39

Investment 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.

Investment 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

Exclusively Listed By

Financing By

Miscellaneous

Sunburn Miami Beach-Brand New Store-10 Year Tenant Commitment

Listing Price: $15,000,000

Cap Rate
7.22%
Tenant Name
Sunburn Cannabis
Years Remaining On Lease
9.5
Guarantor
Corporate Guarantee
Rentable SF
7,344
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$147.39

Investment 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

Investment 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.

Exclusively Listed By

Financing By

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