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Shopping Strip

1100 15th Street

1100 15th St, Miami Beach, FL 33139

Listing Price: $6,900,000

Cap Rate
5.20%
Gross SF
6,650
Rentable SF
6,650
Price/Gross SF
$1,037.59
Lot Size
0.19 acres
Year Built
1945

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a prime commercial property located at 1100 15th Street, Miami Beach. This asset is anchored by award winning, Via Emilia 9 Italian Restaurant. The asset also is home to five other tenants, two of which are food and beverage operators, as well as two other neighborhood retail tenants. Being in close proximity to Lincoln Road Mall, the tenant mix caters to the needs of locals as well as tourists. The landlord friendly NNN leases feature 3-5% annual rent increases and only one tenant has a renewal option which provides the opportunity for near term value creation on the part of the landlord.

Investment Highlights

  • Rare Small Bay Retail Center In Miami Beach
  • Three Of Six Bays Are F&B/Restaurant Space With Strong Residual Value And Demand
  • Tenant Mix Caters To The Needs Of Locals And Tourists Alike
  • Scheduled 3-5% Annual Rental Increases
  • Two Hundred and Five Feet Of Linear Frontage With Forty-Five Foot Bay Depths-Ideal For Tenants And Maximizing Future Rent Potential
  • Short Term Leases Allowing For Near Term Value Creation
  • Strong Location-2 Blocks From Lincoln Road And Within A Dense Residential Neighborhood

Exclusively Listed By

Financing By

Shopping Strip

1100 15th Street

Listing Price: $6,900,000

Cap Rate
5.20%
Gross SF
6,650
Rentable SF
6,650
Price/Gross SF
$1,037.59
Lot Size
0.19 acres
Year Built
1945

Investment Highlights

  • Rare Small Bay Retail Center In Miami Beach
  • Three Of Six Bays Are F&B/Restaurant Space With Strong Residual Value And Demand
  • Tenant Mix Caters To The Needs Of Locals And Tourists Alike
  • Scheduled 3-5% Annual Rental Increases
  • Two Hundred and Five Feet Of Linear Frontage With Forty-Five Foot Bay Depths-Ideal For Tenants And Maximizing Future Rent Potential
  • Short Term Leases Allowing For Near Term Value Creation
  • Strong Location-2 Blocks From Lincoln Road And Within A Dense Residential Neighborhood

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a prime commercial property located at 1100 15th Street, Miami Beach. This asset is anchored by award winning, Via Emilia 9 Italian Restaurant. The asset also is home to five other tenants, two of which are food and beverage operators, as well as two other neighborhood retail tenants. Being in close proximity to Lincoln Road Mall, the tenant mix caters to the needs of locals as well as tourists. The landlord friendly NNN leases feature 3-5% annual rent increases and only one tenant has a renewal option which provides the opportunity for near term value creation on the part of the landlord.

Exclusively Listed By

Financing By

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