Urban-High Street

230 Lincoln Road

230 Lincoln Rd, Miami Beach, FL 33139

Listing Price: Request For Offer

Gross SF
51,493
Rentable SF
51,493
Lot Size
0.52 acres
Year Built
2017

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present for sale 230 Lincoln Road (the “Property”), a four-story, 51,493-square-foot, urban high-street retail property located in the heart of South Beach, directly along the world renowned Lincoln Road corridor (Miami-Dade MSA). Situated between Washington and Collins Avenues on Lincoln Road, the Property is historically recognized as the original home of the Carib Theater, which opened on December 22, 1950. In 2015, the building was demolished, completely redeveloped and is now the home of Ross Dress for Less, which occupies just over 30,000 square feet and spans the entire second and third floors. The first floor (ground level) retail space is currently vacant along with the fourth floor roof-top, built for a restaurant and boasting 9,358 square feet of indoor seating space and providing an additional 6,000 square feet of outdoor seating space with amazing views of Lincoln Road and Collins Avenue.

Investment Highlights

  • +/-51,500-Square-Foot, Four-Story, Trophy, Urban High-Street Retail Property Located Directly on Lincoln Road Between Washington and Collins Avenues in South Beach
  • Strategically Situated on the Eastern Edge of the Lincoln Road Mall, Which is Ranked in the Top 10 Most Expensive Retail Corridors in the United States
  • Anchored by Ross Dress for Less with over Eight Years Remaining on the Initial Term, and Four Additional Five-Year Options, with Rental Escalations Every Five Years
  • Completely Redeveloped in 2017; Designed by Renowned Architects, Revuelta Architecture International
  • Continued Market Growth Driven by a Number of Surrounding Development Projects, Including the $620 Million Renovation/Expansion of the Miami Beach Convention Center, as well as a $32 Million Overhaul of the Lincoln Road Corridor
  • Incredible Value-Add Opportunity Through Lease-Up of over 40 Percent of the Building, Along with NOI Growth Through Built-In Rental Escalations with Ross Dress for Less

Exclusively Listed By

Listing Price: Request For Offer

Gross SF
51,493
Rentable SF
51,493
Lot Size
0.52 acres
Year Built
2017

Investment Highlights

  • +/-51,500-Square-Foot, Four-Story, Trophy, Urban High-Street Retail Property Located Directly on Lincoln Road Between Washington and Collins Avenues in South Beach
  • Strategically Situated on the Eastern Edge of the Lincoln Road Mall, Which is Ranked in the Top 10 Most Expensive Retail Corridors in the United States
  • Anchored by Ross Dress for Less with over Eight Years Remaining on the Initial Term, and Four Additional Five-Year Options, with Rental Escalations Every Five Years
  • Completely Redeveloped in 2017; Designed by Renowned Architects, Revuelta Architecture International
  • Continued Market Growth Driven by a Number of Surrounding Development Projects, Including the $620 Million Renovation/Expansion of the Miami Beach Convention Center, as well as a $32 Million Overhaul of the Lincoln Road Corridor
  • Incredible Value-Add Opportunity Through Lease-Up of over 40 Percent of the Building, Along with NOI Growth Through Built-In Rental Escalations with Ross Dress for Less

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present for sale 230 Lincoln Road (the “Property”), a four-story, 51,493-square-foot, urban high-street retail property located in the heart of South Beach, directly along the world renowned Lincoln Road corridor (Miami-Dade MSA). Situated between Washington and Collins Avenues on Lincoln Road, the Property is historically recognized as the original home of the Carib Theater, which opened on December 22, 1950. In 2015, the building was demolished, completely redeveloped and is now the home of Ross Dress for Less, which occupies just over 30,000 square feet and spans the entire second and third floors. The first floor (ground level) retail space is currently vacant along with the fourth floor roof-top, built for a restaurant and boasting 9,358 square feet of indoor seating space and providing an additional 6,000 square feet of outdoor seating space with amazing views of Lincoln Road and Collins Avenue.

Exclusively Listed By

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